A comment on taxes

Quilombo said:
I've had to pay my rent and some bills with bricks of 10K in Evitas more than once lately because there's not enough $1,000 bills, so the fun is just beginning.
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For the last four months or so now, I have needed to bring and use a shopping bag when I go to the bank. Simply not enough pocket space and they almost never have $1000s. Even $500s are rare. They say you can get $1000s most times from an ATM, but then you have a daily limit of like $50.000ish and only at the ATMs belonging to that bank. Even then at Santander, some weeks usually around the start of the month, the limit for a single transaction is $10.000 on their machines at my local branch (meaning you need to repeat it five times.... and of course if you don't figure this out yourself or ask a bank staffer you are just met with a "This machines doesnt have enough notes to complete the transaction" message and would walk away)

Meaning, the alternative is a multi-day and patience-testing exercise to get the cash you need over these amounts OR do it digitally in an instant - which must surely please AFIP and save the BCRA some ink.
 
antipodean said:
For the last four months or so now, I have needed to bring and use a shopping bag when I go to the bank. Simply not enough pocket space and they almost never have $1000s. Even $500s are rare. They say you can get $1000s most times from an ATM, but then you have a daily limit of like $50.000ish and only at the ATMs belonging to that bank. Even then at Santander, some weeks usually around the start of the month, the limit for a single transaction is $10.000 on their machines at my local branch (meaning you need to repeat it five times.... and of course if you don't figure this out yourself or ask a bank staffer you are just met with a "This machines doesnt have enough notes to complete the transaction" message and would walk away)

Meaning, the alternative is a multi-day and patience-testing exercise to get the cash you need over these amounts OR do it digitally in an instant - which must surely please AFIP and save the BCRA some ink.
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I have no sympathy for banks usually, but I do at least in terms of running ATMs. My rent is very affordable, and I felt awful having to give my landlord 25K in hundreds because after over a dozen trips to ATMs on the same day I couldn't get anything bigger, and the max some let me take out were 5K at a time.

We all know how awful money is handled here, it's a surprise the ATMs don't breakdown more than they do already.
 
Hi all. I'm waiting to hear whether the Digital Nomad Visa being discussed might actually come to fruition any time soon. I understand that would provide a visa for 1-year for remote workers here and would at least be free of tax as far as Argentina is concerned.

I've just accepted a job offer as a consultant with a UK company who are happy for me to work from Argentina. I'm a dual US/UK citizen and need to figure out what the tax implications would be. Does anyone have an accountant they would recommend who might be able to help me in this situation?! Thank you for any advice.
 
BsAs2022 said:
Hi all. I'm waiting to hear whether the Digital Nomad Visa being discussed might actually come to fruition any time soon. I understand that would provide a visa for 1-year for remote workers here and would at least be free of tax as far as Argentina is concerned.

I've just accepted a job offer as a consultant with a UK company who are happy for me to work from Argentina. I'm a dual US/UK citizen and need to figure out what the tax implications would be. Does anyone have an accountant they would recommend who might be able to help me in this situation?! Thank you for any advice.
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Until the digital nomad visa comes through, I believe you would need to contract a local company to pay you a salary here. The amount you pay that company would need to cover your salary, as well as any taxes. There are companies here who do this.
 
BsAs2022 said:
Hi all. I'm waiting to hear whether the Digital Nomad Visa being discussed might actually come to fruition any time soon. I understand that would provide a visa for 1-year for remote workers here and would at least be free of tax as far as Argentina is concerned.
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The digital nomad visa may only be "free of tax as far as Argentina is concernec" if you are in Argentina less than six months.

If I understand correctly, if you are here more than six months and if you have to pesify your foreign income at the official rate, you will end up with about half the gross income in pesos compared to sending yourself the funds by Western Union.

This was posted in this thread by Quilombo on November 27th:

Digital Nomad (less than 6 months)
- Exempt from domestic taxes (except IVA)
- Exempt from Bienes situados en el exterior
- Can in theory access the Savings Account for Tourists once available, and receive a better exchange rate
- Not required to pesify via the MULC
- Possible to use WU, even though current regulation stipulates it is for familiar support (rarely, if ever enforced, users here been doing it for years)
- Must earn income from foreign companies/persons (i.e. visa/passport stamp prohibits working for an Argentine employer)

Digital Nomad (more than 6 months)/Working Remotely for a Foreign Employer as a Citizen or Resident (Temporary or Permanent)
- Has a form of legal residency
- Must obtain a CUIT/CUL/CDI
- Must register with AFIP
- Must adhere to monotributista regime (provided annual income for 2021 is under $2.6 Million pesos at the official exchange rate)
- Must subscribe to an Obra Social
- Required to issue type E facturas to foreign clients
- Must pesify and repatriate (send to Argentina) funds within 5 days of receiving payment for goods/services rendered via the MULC (official exchange rate)
- Depending on province, pay Ingresos Brutos
- For Bienes situados en el exterior that exceed $3,000,000 ARS (not including a primary residency up to $18,000,000 ARS or bonds/Argentine/Provincial debt) you pay a graduated wealth tax with a floor of 0.70% up to a maximum of 2.25%
- If you repatriate at least 5% of the total assets valued abroad (i.e. $150,000 if you have $3 Million ARS worth of assets abroad) AND you keep these assets in Argentina until December 31st of the year, you can become exempt from paying the Bienes Personales
 
Thanks. My understanding is that, if it actually happens, the new Digital Nomad Visa being discussed would be for 1-year and tax free during this entire year (unless I'm mistaken). I guess we'll see...
 
BsAs2022 said:
Thanks. My understanding is that, if it actually happens, the new Digital Nomad Visa being discussed would be for 1-year and tax free during this entire year (unless I'm mistaken). I guess we'll see...
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To BsAs2022: Do you happen to remember where you encountered any information about the Digital Nomad Visa being "tax free" for an entire year?

PS to Quilimbo: Do you happen to remember where you found the information about the Digital Nomad Visa you wrote about in the first post of this thread?
 
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BsAs2022 said:
Hi all. I'm waiting to hear whether the Digital Nomad Visa being discussed might actually come to fruition any time soon. I understand that would provide a visa for 1-year for remote workers here and would at least be free of tax as far as Argentina is concerned.

I've just accepted a job offer as a consultant with a UK company who are happy for me to work from Argentina. I'm a dual US/UK citizen and need to figure out what the tax implications would be. Does anyone have an accountant they would recommend who might be able to help me in this situation?! Thank you for any advice.
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I looked at doing this briefly, the amount of taxes and fees to make yourself legal is oppressive. You basically need to have a shadow company in Argentina hiring you and then paying them to pay you. The shadow company will take a cut. The accountant i spoke with said you'll lose about 40% of income in various taxes and cuts.
 
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