Looking to further boost its post-pandemic economy, Argentina has released several tax and labour updates which impact multinational companies and international investors operating in the Republic.

Originally put in place in March 2020 as a pandemic-related emergency measure, the temporary regulation for double severance pay ended on 1 July. It is important to note, though, that the double indemnity in case of unjustified dismissal (uncaused) was replaced by a new scheme of staggered compensation increases, in place from 1 January 2022.

On the tax side, the Federal Administration of Public Revenue (AFIP) has updated the billing limit before detailed data on the recipient of the voucher is required.  The data must now be specified when the amount of the invoice is equal to or greater than $43,010 and its recipient is the final consumer. The information that must be detailed includes names and surnames, address, CUIT/CUIL/CDI (where appropriate), and identity document number (LE, LC, DNI or, in the case of foreigners, Passport or CI).

The AFIP has also released a recategorization for taxpayers using the Monotributo (the simplified tax for small taxpayers) for the January/June 2022 semester – available from 11–29 July 2022, inclusive.

For more information on these changes, or if you have any queries on Argentina’s tax and labour regimes, Auxadi’s experts are at your disposal.

Contact our team today to find out exactly how we can help you

Local Knowledge – International Coverage

Founded in 1979, Auxadi is a family-owned business working for multinational corporations, private equity funds and real estate funds. It’s the leading firm in international accounting, tax compliance and payroll services management connecting Europe and the Americas with the rest of the world, offering services in 50 countries. Its client list includes many of the top 100 PERE companies. Headquartered in Madrid, with offices in US and further 22 international subsidiaries, Auxadi serves 1,500+ SPVs across 50 jurisdictions.

All information contained in this publication is up to date on 2022. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.