foreigner taxes when selling property in BA

[nychick]

i am wondering if anyone knows anything about the tax implications for foreigners selling property in buenos aires. I have been told that there is an extra tax for extrañjeros. but I havent been able to find a lawyer or accountant who is really specialized in sales involving foreigners. does residency status play into it? Does buying another property after the sale? Any help or advice would be greatly appreciated.

Also.. I have a beautiful PH in the middle of palermo soho for sale 150 m2, completely renovated, 3 terraces.. etc. for sale if anyone is interested.

 

[steveinbsas]

i am wondering if anyone knows anything about the tax implications for foreigners selling property in buenos aires. I have been told that there is an extra tax for extrañjeros. but I havent been able to find a lawyer or accountant who is really specialized in sales involving foreigners. does residency status play into it? Does buying another property after the sale? Any help or advice would be greatly appreciated.

Also.. I have a beautiful PH in the middle of palermo soho for sale 150 m2, completely renovated, 3 terraces.. etc. for sale if anyone is interested.

The taxes on the sale of property are low and the "sello" (aka stamp tax) is often split between the buyer and seller. The biggest problem for foreigners comes if you don't have residency and a DNI. If you don't have a DNI you will have to present the utility bills for the entire time you owned the property. If utility usage does not drop to near zero when you are not in Argentina, AFIP will assume you have been renting and impose taxes and interest on the assumed rents. The process will take several months.

Also if you haven't been paying the annual bienes personales (aka wealth tax), as a foreigner you will owe 1.25% of the value of the property (my accountant used the $ amount from the escritura) plus 2% interest per month.

If you have a DNI it's a lot easier and the paperwork can often be done in a few days. If you buy another property within a year you should be exempt from paying the transfer tax (ITI). There is a $305K peso exemption for the bienes personales tax. If the valuation is higher you will owe at least .75% from zero (plus interest on any amounts pat due).