Monotributista Invoicing for US-Based Work – Payment & Tax Questions!

[liponlegs23]

This sounds a little complicated to me. You have the following:

1) You are a UK citizen, with a UK bank account, but not registered as a UK Tax Payer
2) You have a US Bank Account and want to work for a US Company
3) You are residing in Argentina and are a permanent resident

Questions:

2) Is this the bank account you are trying to receive funds to? Are you aware of the tax implications of banking your US earnings in a US based account?

3) If you want to avoid # 2, does the payroll department of the US Company offer alternative payment options? Payments to apps? Payments to foreign accounts?

Hi,

Just to clarify, I am a British citizen with a UK bank but declared to the tax office that I was leaving the country back in 2004 so not tax registered there, I'm tax registered here. My UK bank knows I'm an expat with permanent residency here and this was approved. I have it for family reasons.

I don't have a US bank account. The US based company will need to pay me into the USD account of my Argentine bank account here. I've contacted the Comex department of my bank since I wrote this post to find out the details I need to be able to receive money into this account.

 

[LuckyLuke]

That seems pretty straightforward then. My only concern for you would be, since your US Employer will likely have no choice but to send your full salary to your Argentine USD account, is that you may exceed the maximum categoria for Monotributista which puts you in the danger zone for IVA. You should certainly consult an accountant here regarding the implications of receiving your full annual salary "en blanco". Right now at 1225 blue, my math has the Categoria K ($82.370.281) topping out at USD $66k annually. However, should the dollar jump in the future, and ARCA fail to adjust the monotoributo categories in step, you may top out your category much faster, since it is measured in pesos. Should that be a risk, you may wish to research whether there are any qualifying withholdings on your gross salary to reduce your net pay (401K, HSA, or stocks in lieu of salary if your employer is a publicly traded company).

 

[liponlegs23]

That seems pretty straightforward then. My only concern for you would be, since your US Employer will likely have no choice but to send your full salary to your Argentine USD account, is that you may exceed the maximum categoria for Monotributista which puts you in the danger zone for IVA. You should certainly consult an accountant here regarding the implications of receiving your full annual salary "en blanco". Right now at 1225 blue, my math has the Categoria K ($82.370.281) topping out at USD $66k annually. However, should the dollar jump in the future, and ARCA fail to adjust the monotoributo categories in step, you may top out your category much faster, since it is measured in pesos. Should that be a risk, you may wish to research whether there are any qualifying withholdings on your gross salary to reduce your net pay (401K, HSA, or stocks in lieu of salary if your employer is a publicly traded company).

Thank you for your input on this, unfortunately the US income wouldn't be anywhere near the limit for category K, so I think I'll be ok on that score.