New capital gains tax on property in Argentina

PoorSoul

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Can someone give the high level overview in English and say how it has changed compared to now? Thanks
 

steveinbsas

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I think most readers would like to know what the "capital gains" tax rate is, if indeed that is what this is about. The only figure mentioned in the deceto is 75% but I think that refers to the valuation of a property.

Capital gains (as I understand the words in English) refers to the profit realized on the sale of real property.

I wonder if this decree is aimed at establishing the "real" value of a property for the purpose of determining the appropriate amount taxes to be collected under the existing system...as opposed to the (often) lower value declared on the escritura.

Everyone who sells property for more than they paid for it realizes a capital gain.

Perhaps I missed it, but I don't see anything here that establishes a capital gains tax on the profits realized from the sale of real property.

PS: And I would like to know if it does, how the capital gains tax would be calculated.
 
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Ceviche

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We must await Perry's comment. He is the expert here in property matters.
 

PoorSoul

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Does this convert the buy / sell price to pesos? If so, it seems like it will cost people a lot of money. If an apartment is bought / sold for $100k USD that would be $0 USD gains. However, the peso gains could be very large due to currency devaluation and thus trigger a capital gains tax.
 

Pensador

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Does this convert the buy / sell price to pesos? If so, it seems like it will cost people a lot of money. If an apartment is bought / sold for $100k USD that would be $0 USD gains. However, the peso gains could be very large due to currency devaluation and thus trigger a capital gains tax.

Good point!
 

Somewhereinba

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You would hope it would be linked to an inflation index if peso based.. Otherwise would be ridiculous (like most things in this country already).
 
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