Tax On Assets Abroad

[Girino]

If the money is deposited in a bank account abroad, it might be subject to bienes personales. I am not an expert on the matter, but can give you some basic ideas. How long have you been an Arg perm resident? Money abroad si over 305000 pesos - 20.000 usd ? Are foreign accounts just under your name or is a joint account? The very , very , very last resource is to go for blanqueo. ( which is crazy imho if you have legal money 10% is a steal ).

From what I discussed with the local tax accountant, this might be the case. I believe he considered the three basic questions you asked before answering me. I made a brief calculation of the 0.75% and forget about it... it is just too much money without a valid rationale. It looks like Argentina is not very appealing on the financial side, also considering the level of financial support/infrastructure its bank system has in place. It is my understanding that the DDJJ is something you gotta do if you want to bring the money here (to purchase/invest in Argentina), otherwise better forget about it all. I wonder how many foreigners residing here do actually do that.

Thank you for your inputs.

 

[Somewhereinba]

When you look around and see potholes in all the streets and the public sector work ethic is it any wonder majority of people are in black? The Argentine solution to raise taxes so high to compensate for those who don't pay their fair share (rich and subsidised poor) is also extremely stupid. It is the ridiculously high taxes on the middle class that subsidise the poor while many of the rich steal and corrupt the system of tax payer dollars. All the government cronies use public funds as their own personal bank account. A large % of the poor are comfortable with their welfare system and have minimal incentives to further their education or employment if they can maintain a lifestyle that affords them the basics without doing much. There is no reason for a country with all its natural resources and proximity to many emerging markets to be where it is today except a archaic mentality of corruption and who cares about anyone else. When I see cars parked in the middle of the road blocking traffic just because they cannot be fucked driving further and finding a normal car park it exemplifies the exact reason this country is where it is.

 

[rickulivi]

Nikad:

You seem to know what you are talking about, which is wonderful, because I am pretty confused. Perhaps you can shed some light on my case, because I get very contradictory information from two accountants. My question involves the tax called "impuesto a la ganancia mínima presunta".

This is what I think is the issue. If you are NOT a resident (you spend less than six months a year here), AND you own an apartment in BA, the AFIP believes you rented it out while you were not here. They assume you are guilty unless you can prove otherwise. I have been told that they will ask for your electric bill during the periods you were not here, and if they see consumption of more than 50 kw, they assume you rented it out. Therefore, they require you pay a tax called "impuesto a la ganancia mínima presunta". From what I read, that's a 1% on the value of the original purchase price of the apartment, but "actualizado."

Furthermore, if you have been paying the tax "bienes personales" it should have been filed as a non-resident, because it seems the tax rate is higher than if you are considered a resident.

Is my current understanding on this tax correct? Can you add anything else to clarify the issue? I have searched the Internet in vain for a very good explanation of this tax.

I appreciate any comments you might have.

 

[nikad]

Nikad:

You seem to know what you are talking about, which is wonderful, because I am pretty confused. Perhaps you can shed some light on my case, because I get very contradictory information from two accountants. My question involves the tax called "impuesto a la ganancia mínima presunta".

This is what I think is the issue. If you are NOT a resident (you spend less than six months a year here), AND you own an apartment in BA, the AFIP believes you rented it out while you were not here. They assume you are guilty unless you can prove otherwise. I have been told that they will ask for your electric bill during the periods you were not here, and if they see consumption of more than 50 kw, they assume you rented it out. Therefore, they require you pay a tax called "impuesto a la ganancia mínima presunta". From what I read, that's a 1% on the value of the original purchase price of the apartment, but "actualizado."

Furthermore, if you have been paying the tax "bienes personales" it should have been filed as a non-resident, because it seems the tax rate is higher than if you are considered a resident.

Is my current understanding on this tax correct? Can you add anything else to clarify the issue? I have searched the Internet in vain for a very good explanation of this tax.

I appreciate any comments you might have.

As far as I understand Ganancia Minima Presunta It is applied to companies and individuals that own rural real estate, they are the ones that have to prove they have not been earning income.

http://www.afip.gob.ar/Aplicativos/gananciaMininaPresunta/

 

[rickulivi]

Nikad

Thank you for the link. I used it to learn more about this tax. Apparently, if you are an Argentine resident but do NOT reside here (spend less than six months) you are considered a residente extranjero, in which case this tax may apply to you. I need to become an expert on this tax. Thanks again for your help.

 

[nikad]

Nikad

Thank you for the link. I used it to learn more about this tax. Apparently, if you are an Argentine resident but do NOT reside here (spend less than six months) you are considered a residente extranjero, in which case this tax may apply to you. I need to become an expert on this tax. Thanks again for your help.

Do you rent it out? How much money do you charge yearly for the rental? If you are subject to impuesto a las ganancias ( income tax ) you should be able to deduct " impuesto a la ganancia minima presunta ".