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.