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24 December 2019 Argentina amends Tax Consensus between the Federal Government and provincial governments, postponing reductions on certain provincial taxes On 20 December 2019, the Argentine Senate approved and sent to the House of Representatives the agreement reached between the Federal Government and provincial governments on 17 December 2019, amending the Tax Consensus to postpone reductions on certain provincial taxes. Once approved by the House of Representatives and enacted by the Argentine Executive Power, the amendment must be ratified at the provincial level. Law 27,429 (later amended by Law 27,469) enacted the Tax Consensus, an agreement between the Argentine Federal Government and provincial governments to implement certain tax policies designed to promote and increase investment, as well as private employment, by reducing the burden of taxes that adversely affect businesses. The amendment would suspend until 31 December 2020, the application of the Tax Consensus for the following items agreed to by the provinces:
Companies doing business and different stakeholders investing in Argentina should consider the consequences of the changes and evaluate the effect on their current Argentine operations. Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
Document ID: 2019-6659 |