background image

Argentina Considering Tax Exemption on Certain Interest Income — Orbitax Tax News & Alerts

Argentina's Congress is considering a draft bill submitted on 16 October 2020 that includes measures for the introduction of an income tax exemption on certain interest income. The exemption would apply for

  • Interest income on bank deposits denominated in ARS with an adjustment clause for inflation; and
  • Interest income on financial instruments denominated in ARS that are planned to be created by the government to promote productive investments.

The draft bill also includes measures to provide an exemption from personal assets tax on certain instruments, including on qualifying commercial paper denominated in ARS and financial instruments for promoting investments as above. An exemption is also provided for qualifying quotas in mutual funds and listed securities issued by financial trusts where at least 75% of the underlying assets are promoted securities or investments denominated in ARS