Sanctioned: April 24, 2002.
Enacted: May 14, 2002.
The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:ARTICLE 1 la Amend Law 23.966, Title VI of Personal Property Tax (text ordered in 1997 and its amendments), as follows:
(a) Replace article 22 (h) with the following:
(h) Public securities and other securities, except shares of anonymous companies and in comandita .including those issued in foreign currency que that are collated in stocks and markets: to the last value of quote as at 31 December of each year or last market value of that date in the case of quotas shares of common investment funds.
Those who do not collide in stock will be assessed for their cost, increased to correspond, in the amount of interest, updates and exchange differences that would have been accrued to the date indicated.
In the case of actions they will be charged to the proportional property value arising from the last closed balance as at 31 December of the liquidated exercise. The regulation will determine how to compute the increases and/or decreases in capital that occurred between the closing date of the broadcasting society and 31 December of the respective year.
In the case of social quotas of cooperatives: at their nominal value in accordance with article 36 of Law 20.337.
(b) Replace the first paragraph of article 25 with the following:
Article 25: The tax to be entered by the taxpayers referred to in the previous article shall arise from the application, on the total value of the goods subject to the tax, excluding the shares and shares in the capital of any kind of societies governed by Law 19.550, except for the single-person enterprises and exploitations, whose amount exceeds the amount set forth in Article 24, of the liquota for each case:
Subjects to tax
(c) Please enter the following article:
Article: The levy corresponding to the actions or participations in the capital of the societies governed by Law 19.550, the holders of which are natural persons and/or indivisible successions domiciled in the country or abroad, and/or societies and/or any other type of person of ideal existence, domiciled abroad, shall be liquidated or entered by the companies governed by Law 19.550. The tax thus entered will have the unique and definitive payment character.
For the purposes set forth in the preceding paragraph, it is presumed that the actions and/or participations in the capital of the societies governed by Law 19.550, whose owners are societies, any other type of person of ideal existence, companies, stable establishments, assets of affectation or exploitation, domiciled, settled or located abroad, belong in an indirect way to the outsiders.
The companies responsible for the tax return shall have the right to refund the amount paid, including by retaining and/or directly implementing the assets that gave rise to payment.
(d) Replace the fourth paragraph of article 26 with the following:
Where the direct ownership of the goods specified in the preceding paragraph shall be the exception of the actions and participations in the capital of the companies governed by Law 19.550, it shall correspond to companies, any other type of person of ideal existence, companies, stable establishments, assets of affectation or exploitation, domiciled or in their case, whether settled or located abroad, in countries that do not apply of nominative of the same private values,ARTICLE 2 . Contact the executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE VEINTICUATRO DAYS OF THE MONTH OF APRIL OF THE YEAR DOS MIL DOS.
EDUARDO O. CHANGE. . MARCELO E. LOPEZ ARIAS. . Eduardo D. Rollano. . Juan C. Oyarzún.