Rentista Visa And Income Taxes

[BDA shorts]

Hi, I'm planning to apply for a rentista visa. I searched around and couldn't find the answer to this on the forum or anywhere else on the internet:

When you apply for the rentista visa and declare your 8,000 pesos of monthly income, do you then need to start paying Argentine taxes on that income once you arrive? Do the immigration and the tax authorities talk to each other and compare notes on things like this?

 

[Bajo_cero2]

You pay income tax over 15.000 pesos salary.

 

[Bajo_cero2]

You pay income tax over 15.000 pesos salary.

 

[steveinbsas]

Thanks to BC2 for posting the threshold for income tax. If your income is less than $15.000 per month you don't have to make declarations (according to two accountants I spoke with in the past year). An English speaking Argentine accountant in Capital Federal told me he opposite, but I think that's because he wanted to charge me for something I did not need.

If you own the assets that produce the income for your visa rentista and the value of those assets (as assessed by a tax authority in the USA) is greater than $305,000 pesos, they "may be" subject to bienes personales tax in Argentina, but I never met anyone who said they paid this tax on their foreign assets and I don't think anyone has posted in the forum that they do, either.

I don't "own" the assets that produce my foreign income so I never had to pay it. In fact, because of this I never actually had the via rentista. I had the visa pensionado. I only "discovered" this when I asked for the "cambio de categoria" to permanent and the woman who had processed my previous two renewals used the word pensionado instead of rentista.

The only time I paid taxes directly to AFIP was when the threshold for the beines pesrsonales tax was about 100K. I had to pay this tax for my apartment in Recloleta for three years. Then the threshold for the tax was increased to $305K and I was just under that level. When I moved to my present location I went to the closest office of AFIP to change my address. The employee did not speak any English so he showed me the computer screen to be sure he had my file. I could see that the only category for which I was ever "inscripted" in their system was to pay the bienes personales tax and that my current status was "afuera la systema."

 

[BDA shorts]

Okay, so (assuming that's 15,000 pesos per month and not per year, and assuming it also applies to investment income) 8,000 pesos per month of rentista income falls that threshold and is therefore tax-free, unless the value of the assets producing that income is above 305,000 pesos... right?

Thank you both for that information.

 

[steveinbsas]

Okay, so (assuming that's 15,000 pesos per month and not per year, and assuming it also applies to investment income) 8,000 pesos per month of rentista income falls that threshold and is therefore tax-free, unless the value of the assets producing that income is above 305,000 pesos... right?

Thank you both for that information.

Yes, that's 15,000 pesos per month. If the assets which produce the required monthly income are greater than $305,000 then they would be subject to the bienes personales tax, but as I previously wrote, I don't remember reading any posts by anyone who has ever paid it. I imagine there are some who do, especially those who use the service of an Argentine accountant.

I imagine it would be possible for someone with multiple brokerage accounts to only furnish the information from one of them in order to meet the income requirement for the rentista visa and stay well below the $15,000 peso per month tax threshold.

Nonetheless, I also think the next time the income requirement for the visa is increased the new amount will be at least $15,000 pesos per month.