Win Tax Act. Modifications.
Sanctioned: September 12, 2013 Promulgated: September 20, 2013
The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force ARTICLE 1 —
Replace item 3 of article 2 of the Vocational Tax Act, which was ordained in 1997 and its amendments, with the following:
3. The results from the disposal of movable goods amortizable, shares, quotas and social participations, titles, bonds and other values, whatever the subject obtains them. ARTICLE 2° —
Replace subparagraph (w) of the first paragraph of article 20 of the Vocational Tax Act, which was ordered in 1997 and its amendments, with the following:
(w) Results from sales, exchange, permute, or disposition of shares, quotas and social participations, titles, bonds and other values, obtained by resident natural persons and indivisible successions based in the country, are not covered by the provisions of article 49 (c), excluding those originated in the aforementioned operations, which are for the purpose of actions, quotas and non-participations,
The waiver referred to in this paragraph shall also apply to companies of investment, trustees and other entities that possess the character of subjects of the levy and/or of the tax obligation, constituted as a product of privatization processes, in accordance with the provisions of Chapter II of Law 23,696 and concordant rules, as long as they are operations with actions originated in participatory property programmes, implemented under Chapter III. ARTICLE 3° —
Replace article 45 (k) of the Vocational Tax Act, which was ordained in 1997 and its amendments, with the following:
(k) Results from the sale, change, permute or disposition of shares, quotas and social participations, titles, bonds and other values. ARTICLE 4° —
Replace the second and third paragraphs of article 90 of the Vocabulary Tax Act, a text ordered in 1997 and its amendments, with the following:
When the determination of the net profit of the subjects covered by this article, includes results from the operations of sale, exchange, permute or disposition of shares, quotas and social participations, titles, bonds and other values, the same will be reached by the tax on the account of fifteen percent (15%).
Identical treatment should be granted when the ownership of social actions, quotas and participations, titles, bonds and other values corresponds to societies, companies, stable establishments, assets or exploitations, domiciled or, if any, resided abroad.
In such a case, such subjects shall be bound by the provisions contained in subparagraph (h) of the first paragraph and in the second paragraph of article 93, to the Alicuta established in the second paragraph of this article.
In addition, when the holder corresponds to an outsider, and the acquirer is also a person—physical or legal—of the outsider, the income of the corresponding tax shall be borne by the buyer of the shares, quotas and social shares and other values that are disposed of.
In the case of dividends or profits, in money or in kind, except in shares or shares, which distribute the subjects referred to in subparagraph (a), subsections 1, 2, 3, 6 and 7 (b), of article 69, shall not apply the provision of article 46 and the exception of article 91, first paragraph and shall be reached by the tax of the ten per cent(10%), with a single retention and non-payment, ARTICLE 5° —
Default of article 78 of Decree 2.284 of 31 October 1991 and its amendments, ratified by law 24.307. ARTICLE 6° —
The provisions of this Act shall enter into force on the basis of their publication in the Official Gazette and shall apply to the impossible facts that are perfected from the aforementioned validity. ARTICLE 7° —
Contact the national executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE DIASS OF THE SEPTEMBER OF THE YEAR DOS MIL TRECE.
LOVE BOUDOU. - JULIAN A. DOMINGUEZ. - Gervasio Bozzano. — Juan H. Estrada.