NEW TAX on ALL PROPERTIES required and DUE by September 15!

[California]

There is a NEW additional tax being implemented by LAW for ALL properties in the Province of BUENOS AIRES. This tax is going to be DUE between the 5 and the 15th of September, 2007.
If you owned a property or automobile on or before DECEMBER 31st, 2006, you will have to pay this additional tax!



It is a difficult tax to calculate and requires getting a “PIN” from the AFIP on their internet site.



The tax is from 0.25% TO 0.75% of the value of your property or (automobile)…It depends on the properties value AND your accumulated wealth!



So get ready to pay!



(and just in case you are thinking of dealing with it at another time, BE AWARE that the AFIP can freeze your local bank account….happened to my neighbors!!)



Paul
www.hereicomeargentina.com

 

[VMSmith]

I'd be very, very surprised if this is true.They are talking about raising the ABL Rentas, but that's not going to come close to what this guy is proposing in his post.

 

[danc]

can you pls point our or send the URL for exact location on AFIP website that specifies this tax? i cannot find it and i cannot find it. i've asked multiple people about the luxury tax and i am told that it is only applicable if you sell your property and do not immediately buy another one. this tax is only payable at the time of the sell. i am getting mixed messages and a specific reference from afip would be helpful. thank you for the information, i do appreciate it, just looking to clarify. thanks

 

[Marc]

This is not entirely correct.
My lady is a public accountant and does this stuff evrery day.
Its a tax on properties valued at over 500.000 pesos and is a Rentas tax. Nothing to do with AFIP.
It applies not just to houses but all your assets.
www.rentas.gba.gov.ar ley no 13684
It would be a good idea to check that site, if you need to.
Marc

 

[danc]

thank you marc for the clarification, this jives with my research as well.

 

[California]

Yes, as a matter of fact it is a tax on ALL your wealth, including cars, boats, foreign deposit accounts, etc....but for all of you Americans living here in B.A. I thought to only mention the tax on property for the sake of simplicity….now, here’s the catch…..and it’s in YOUR favor. It is a tax ONLY valid for properties in the PROVINCE of BA…..and ONLY includes your property in the CITY of BA, IF you also have a property outside of the city! (I’ll repeat this later in case you didn’t get it)


The name of this additional tax is called, "Adicional Impuesto Inmobilario Urbano y a Los Automotores" which requires you to fill out "Formulario R-800"
The resolution number is: “Ley 13648, Prov. Bs.As.” reglementado por decreto: DN 37, 2007…….(I might have a number or decimal off there….please forgive me)
And yes, Marc, you were close…..the law applies to those that have wealth of $500,000 or more IN THE PROVINCE…..(but includes your bank accounts too!)
As I mentioned….your property in CAPITAL actually will be added into your wealth IF you do have that property in the province….did you get that?
Bottom line….if you just have an apartment in Capital….don’t worry about it….

 

[Marc]

Hi California
I can't comment on what you have said, since I'm not an expert.
I'll pass your comments to Adriana, my girlfriend who is well aquainted with all of this, being a certified public accountant. If she has time (when not tackling AFIP/Rentas on behalf of her many clients), I'll let you know what she says.
She has helped me out on numerous occasions with this type of thing and has never been wrong.
Cheers
Marc

 

[California]

Hi Marc,
We have a very good accountant that worked for about 15 years FOR the AFIP....now he has his own studio and handles all the accounts of my brother in laws, (all Argentines) along with my own accounts. He's been with them for over 20 years. He is my #1 source for all my information....he's almost never mistaken, (only MY interpretation/translation can sometimes be wrong!)
I also go running twice a week with some Argentine friends....one is also an accountant so I ask him things all the time.
It is possible that this tax be "prorogado"....until another date....but so far no announcement by the government yet.
If your wife has most of her clients IN B.A., she may very well not have to deal much at all with that tax....
I have the forms right now in my hand and as soon as they issue the "pins" in Internet...I'll be paying it....The actual transaction in the bank can be done using a "cadete"....thank GOD!
Take care