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Argentina: Impact of Suspension of Exemption Certificates on VAT and Income Tax for Imports

  • General Resolution 5520 was published on 1 July 2024 by the Federal Tax Authority in Argentina
  • The Resolution suspends exemption certificates for VAT and Income Tax on certain imported goods until 31 December 2024
  • Income Tax advanced payments on imports will not be deductible in monthly payments until the end of 2024
  • VAT advanced payments on imports can be computed as tax credit without restrictions until 31 December 2024
  • The Resolution excludes imports for consumption by micro and small companies, imports for the National State, and imports exempted by Law No. 27,701
  • The Resolution may lead to an increase in VAT and Income Tax credit balances for many cases
  • Import duties in Argentina range from 0% to 35% and include charges like statistics fee, Value Added Tax, VAT advanced payment, Income Tax advanced payment, and advanced Gross Receipts Tax
  • The total import duties and taxes for a shipment can be calculated using a formula that includes all these charges


Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.


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