rocket
Orbitax subscribers can now easily follow the latest COVID-19-related tax measures being implemented worldwide. New to Orbitax? Create a free account to access your dashboard and latest tax news.
News Share

The Tax Hub

Daily Tax Newsletter

Argentina

Responsive image

Argentina Updates Beneficial Ownership Disclosure Requirements and Extends Initial Deadline

Argentina has published General Resolution 4878/2020 of 12 December 2020, which updates the beneficial ownership disclosure requirements introduced by General Resolution 4697/2020 of 14 April 2020. The main update is the addition of a new Article 2 in the resolution, which provides new definitions and rules for the disclosure of beneficiaries. This includes the following:

  • The final (ultimate) beneficiary is considered to be the natural person who owns the capital or voting rights of a company, legal person, or other contractual entity or legal structure (reporting entity), regardless of the number of shares or equivalent securities they own and their nominal value, or that, by any other means, exercises control directly or indirectly over said reporting entity;
  • If the natural person defined as the final beneficiary above is not identified, the president, managing partner, administrator, or highest authority of the reporting entity must be reported as the final beneficiary, without prejudice to the powers of the tax administration to investigate the causes that led to the breach of the obligation to identify the final beneficiary as above;
  • In cases where a reporting entity's shares are listed on a public stock exchange, only natural persons holding at least 2% of the shares or holding shares valued at ARS 50 million on 31 December of the reporting year need to be reported as final beneficiaries; and
  • Mutual funds are required to report final beneficiaries according to the preceding conditions, regardless of their shares being listed on a stock exchange.

In addition to the new definitions and rules above, General Resolution 4878/2020 also extends the deadline for reporting in light of the changes. Previously extended to between 14 and 16 December 2020, the deadline has now been extended to 30 December 2020. Information to be reported by this deadline includes the information for 2019 and, with respect to foreign passive income companies, information for 2016, 2017, and 2018.

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Crosss Border Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment Streams.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More