Key Benefits:
The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:
ARTICLE 1 el Replace the text of article 21 (i) of Law 23.966, Title VI of Personal Property Tax (T. 1997) and its amendments, with the following:(i) The encumbered assets sexcept those covered in the article without a number incorporated after article 25 of this law indicado belonging to the subjects specified in article 17 (a) of the present, when their value as a whole, determined according to the rules of this law, is equal to or less than weights three hundred and five thousand ($ 305,000).
Where the value of such assets exceeds the above-mentioned amount, the entire encumbered assets of the passive subject of the tribute shall be subject to taxation.
ARTICLE 2 el Replace the text of article 22 (g) of Law 23.966, Title VI, of Personal Property Taxes (T. 1997) and its amendments, with the following:(g) Personal and household objects, excluding those set out in subparagraph (e): for their cost value. The amount to be appropriated for the assets covered in this subparagraph shall not be less than that resulting from the application of five per cent (5%) of the sum of the total value of the encumbered property located in the country and the value of the property located abroad without computing, if appropriate, the amount of the exemption provided for in article 21 (i) of this Act.
For the purpose of determining the basis for calculating the minimum amount provided for in the preceding paragraph, the value, real or presumed, of the assets to be included in this subparagraph should not be considered.
To that end, the amount of the assets achieved by the single and final payment set out in the incorporated article should not be considered without number following article 25.
Article 3 , Incorporate as article 22 (k) of Law 23.966, Title VI of Personal Property Tax (T. 1997) and its amendments, the following:(k) The assets of trustees not covered by subparagraph (i) of this article shall be assessed in accordance with the provisions of this Act and its regulations.
The assets delivered to these trustees shall not constitute the basis that the fiduciants, natural persons or indivisous successions should consider for the purpose of determining the tax. If the fiduciant were not a natural person or undivided succession, such assets will not integrate their capital in order to determine the valuation that must be computed for the same purposes.
The provisions of the preceding paragraph shall be applicable only if the tax referred to in the fourth paragraph of the article had been entered, after its expiry, without a number incorporated under article 25 of this Act.
ARTICLE 4 Replace the text of the article with no number incorporated after article 25 of Law 23.966, Title VI, of Personal Property Tax (T. 1997) and its amendments, with the following:Article: The levy corresponding to the actions or participations in the capital of the societies governed by the Law 19.550 of Commercial Societies (t. 1984) and its modifications, the holders of which are natural persons and/or indivisible successions domiciled in the country or abroad, and/or societies and/or any other kind of person of ideal existence, domiciliated in the exterior, shall be liquidated or The tax thus entered will have the unique and definitive payment character.
For the purposes provided for in the preceding paragraph, it is presumed without admitting evidence to the contrary, that the actions and/or participations in the capital of the societies governed by Law 19.550 of Commercial Societies (t. 1984) and its modifications, whose holders are societies, any other kind of person of ideal existence, companies, stable establishments, assets of affectation or exploitation, domiciled, indirect or located outside.
Corporations responsible for the taxation, referred to in the first paragraph of this article, shall have the right to refund the amount paid, including by retaining and/or directly implementing the assets that gave rise to payment.
In the case of trusts not mentioned in article 22 (i) of this law except where, the fiduciante is the national, provincial, municipal or the Autonomous City of Buenos Aires or those are destined to the development of infrastructure works that constitute a priority objective and of interest of the national State, the tax shall be liquidated and entered by those who assume the quality of trusts, applying the original paragraph of the present paragraph The tax thus entered will have the unique and definitive payment character. In the event that the national, provincial, municipal or Autonomous City of Buenos Aires shares the quality of fiduciant with other subjects, the tax shall be determined on the participation of the latter, except in the trusts that develop the infrastructure works referred to in this paragraph.
In the cases referred to in the preceding paragraph, it is presumed that the assets that make up the trust belong directly or indirectly to passive subjects of the levy.
The Ministry of Economy and Production shall issue the clarification and interpretation of the exceptions provided for in the fourth paragraph of this article.
ARTICLE 5o Contact the Executive.DADA IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE TWENTY DAYS OF THE YEAR TWO MIL OCHO.
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JOSE J. B. PAMPURO. EDUARDO A. FELLNER. . Enrique Hidalgo. . Juan H. Estrada.