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Argentina Legal Entity Corporate Secretarial Compliance Requirements

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Starting a business in Argentina? It's important to understand the local regulations that set out your corporate responsibilities. Find out about national taxes, social security, and corporate and labour obligations for your business.

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Argentina Legal Entity Corporate Secretarial Compliance Requirements

  1. 1. Corporate Compliance For Legal Entities in Argentina www.bizlatinhub.com
  2. 2. Argentina’s Compliance Requirements Regardless of their commercial activity, all legal entities located in Argentina must comply with a series of obligations managed by various government entities. These obligations fall within the following categories: 1. Corporate obligations 2. National taxes 3. Labor obligations 4. Social security
  3. 3. 1. Corporate Obligations The legal entity has to meet certain corporate obligations to ensure that it is compliant with local legal requirements. A) Hold an annual shareholder meeting B) Sworn statement to the National Tax Authority, the AFIP, (La Administración Federal de Ingresos Públicos) Deadline: On an annual basis, at latest four months after the yearly book closing day of the company.
  4. 4. 2. National Taxes Every legal entity in Colombia has to meet tax obligations to ensure that it is compliant with the legal tax requirements of the National Tax Authority, the AFIP. Calculation, preparation and filing of tax declarations with the AFIP is required on a monthly and annual basis. The most prevalent taxes are the following: IVA – “Impuesto al Valor Agregado” (VAT - Value Added Tax) IIBB – “El Impuesto sobre los Ingresos Brutos” (Municipal Income Tax) IG – “Impuesto sobre las ganancias” (Income Tax) Deadlines: Monthly IVA and IIBB depend on the Tax ID. For the annual IG at latest 4 month after the yearly book closing day of the company.
  5. 5. 3. Labor Obligations Every legal entity in Argentina has to meet the following labor obligations: a) SAC: Equal to 1 month of salary divided in two parts. The employee will receive one part in the middle of June, and the other part early December. b) Vacation: 14 days c) Government Entity: The Ministry of Labour and Social Security monitors the companies so the labor obligations are met, but no reports are required
  6. 6. 4. Social Benefits The legal entity is required to meet social security obligations: • Pension • Health Contribution • Labour Risk Insurance • Social Fund for Unemployment Risk Deadline: Within the first week after the salary payment. Government Entity: The Ministry of Labour and Social Security monitors the companies so the social benefits are paid, but no reports are required.
  7. 7. Schedule of Annual Corporate Requirements Requirement to be presented Frequency Date of Filing Government Agency Hold a Shareholder Meeting Annual Up to 4 months after the yearly book closing day - Sworn declaration to the AFIP Annual Up to 4 months after the yearly book closing day AFIP Monthly IVA (VATs) Monthly Depends on the TAX ID and AFIP’s Calendar AFIP Monthly IIBB Monthly Depends on the TAX ID and AFIP’s Calendar AFIP Annual IG Income Tax declaration Annual Up to 4 months after the yearly book closing day AFIP Vacations Annual Depending on employee’s start date MTESS SAC Biannual Mid June and early December MTESS Health Contribution Monthly First week after the salary payment MTESS Pension Contribution Monthly First week after the salary payment MTESS Labour Risk Insurance Contribution Monthly First week after the salary payment MTESS Social Fund for Unemployment Risk Monthly First week after the salary payment MTESS AFIP = Administración Federal de Ingresos Públicos (Tax Authority) MTESS = Ministerio de Trabajo, Empleo y Seguridad Social (Ministry of Labor and Social Security)
  8. 8. Biz Latin Hub is a market leader in helping individuals and companies to successfully do business globally and has multilingual services that are reliable, tailored and responsive. Our group is owned and managed by an experienced team of local and expat professionals, dedicated to assisting our clients to navigate their way through the complexities of the global business environment. We can help!
  9. 9. See how our services can support your global expansion. Due Diligence Legal Services Accounting & Taxation
  10. 10. Are you ready to expand globally? Contact us now. contact@bizlatinhub.com www.bizlatinhub.com

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