| Author | Message | ||
     Roberto Board Administrator Username: Admin Post Number: 707 Registered: 12-2004 |
Thank you, Riyad. You are right... it's own topic now. | ||
| julie benson New member Username: Julie Post Number: 2 Registered: 5-2006 |
We are Americans purchasing a lot in Argentina through the "native friend" option. The seller wants to declare the selling price as considerably less than what we are paying or it to save on the 2.5% tax. We hear this is common practice. What implications does this have for us when we decide to sell the property?? Any other advantages/disadvantages we should be considering?? | ||
| Apartmentsba.com Member Username: Saint Post Number: 97 Registered: 5-2005  |
Julie, First of all, I hope that this friend of yours is someone you totally trust with your life. I think the Argentina government is being ignorant with these laws in Bariloche and other places that make it difficult for foreign investors to purchase property under their own name. I have flown down to Bariloche many times, vacation there and have even thought about buying a house there (I actually placed an offer and backed out) but I didn't end up purchasing because I refuse to purchase real estate when I can't get the title free and clear in my name. Just make sure that you trust this person completely. I've talked to some Americans that did what you are talking about only later to have a falling out with their "native friend" and it has caused a lot of problems. The native will always have the upper hand in a dispute so keep that in mind. The practice of the seller wanting to list a false, artificial and more importantly Illegal lower price is technically illegal. Keep in mind that it's very common and most of the people I buy property from request it. I always try to purchase completely in the white (legal). Many sellers will not sell unless you record a much lower price. I've walked away from many deals because of this issue. There are many corporations that purchased land/buildings/apartments and they face a 35% capital gains tax so they always try to get you to record a false lower price. Basically your lawyer and your realtor are taking the real risk because they are stating this transaction occured for the stated price. From your standpoint, there is no really big benefit from recording the lower price. In most areas the property/asset tax is very minimal. In Buenos Aires it's 0.75% per year. (Example -- you buy an apartment for u$s 100,000. The annual property/asset tax is aprx. u$s 750/year. If you record $50,000 on the title deed you will save a whopping $375/year..big deal...) The seller is getting most of the benefit so if you are going to do this favor for the seller try to get the price lowered or get some benefit. The risks to you are that you never know if the government will pass some law in the future that establishes a capital gains tax. If they do and it's 25% or whatever % then you clearly will be disadvantaged. Example. You buy the land for $100,000 yet the seller wants to list it for $50,000. 5 year later you decide to sell it and the piece of land has doubled in value. You sell it for $200,000 yet you recorded a false lower price of $50,000. Your capital gain is really only $100,000 yet on paper it will be $150,000 so you would get stuck paying more taxes under this scenario. You will most likely ask the same thing...to illegally list a lower price. This is a vicious circle here in Argentina that keeps going on and on. The small advantage you might have is that you would pay less property taxes each year but probably not too much. The disadvantage is that it's illegal to do this. There is a lot of "white" and "black" here and it's almost impossible to stay totally "white". That is the truth. Keep in mind that AFIP (Argentina IRS) is getting smarter and smarter. Now on sales here in Buenos Aires they are asking for 2 appraisals from more established realtors. They want to start controlling this illegal activity. So don't assume when you go to sell you can get the next buyer to record a much lower price. Things aren't so cut and dry here and things can get complicated so know what you are getting into. Most foreigners get caught up in seemingly cheap real estate and rush to close deals, put property in other people's names (sometimes complete strangers or people they barely know). I stand by my usual advice....if you wouldn't do it in your own country....why would you do it in another country?? Would you buy real estate with 100% cash in the USA and put someone else's name on the title deed?? Good luck. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 83 Registered: 12-2005 |
I want to take this opportunity to pitch in something that no one has touched upon yet. The main advantage I see in illegally declaring a lower false amount on a sale is paying less tax on personal assets. And here is my question: Does anyone pay this? | ||
| Apartmentsba.com Member Username: Saint Post Number: 98 Registered: 5-2005 |
Umm...I did mention it above. And yes, there are some of us that pay taxes on personal assets including property. In fact, I pay this tax on all the real estate I purchase for myself and my clients. The sad truth is the majority of foreigners purchasing here don't even know about this tax. They face a rude awakening when they go to sell their property. If you don't pay your asset tax, AFIP will know about it and they will not only collect the back taxes but there is a penalty of about 2% per month that you were delinquent. Like I said....know the laws before you buy including taxes. I get emails almost on a daily basis from foreigners that complain that "no one told me that I had to pay a tax bill each year". Most realtors and lawyers don't tell you anything about this. You have an asset tax each year due in April. Make sure you pay it or you won't be allowed to sell your property. Many locals never pay this tax but then again..they don't need any permit or permission to sell their properties and foreigners do. | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 165 Registered: 6-2006  |
Any US citizen who has ever owned porperty in the US knows he has to pay property taxes every year. Why should it be any different in Argentina. It should be no surprise. Some states have income taxes as does the US government. Florida does not have income tax. It has sales taxes on certain purchases other than food not purchased in a restaurant. There are various other use taxes. Purchasing a license for autos is a tax. What types of personal property is taxed. In the US land is normally called real property while clothing, furniture etc. is called personal property. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 84 Registered: 12-2005 |
That proves my point! I am not talking about property tax. Not the bill that comes in the mail. I am talking about the additional "hidden" tax that obviously not many knows about that is your total assets (Car and Real estate) that adds to higher than 100,000 pesos. Above 100K pesos you have to pay the additional tax. | ||
| Apartmentsba.com Member Username: Saint Post Number: 99 Registered: 5-2005 |
Here in Argentina you don't get any "property tax bill". You pay taxes on any assets including property (real estate). There is no bill that comes in the mail like in the USA...that's why many foreigners don't pay it. Most foreigners don't even know about it. It's your responsibility to file it. In fact, you need to get an accountant to prepare it and then file it. Another little known fact is that AFIP requires foreigners that own here to have a local representative (either an individual or a local corporation) to be in charge of tax issues. Still, AFIP doesn't really enforce this....YET. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 85 Registered: 12-2005 |
What za heck? Roberto, this topic merits its own section. I get a property tax bill every year. What r u talking about my friend? And I dont need an accountant to pay my property tax bill. What I am talking about is the hidden "Impuesto de los bienes" If you go over 103000 pesos you are obliged to pay tax over that amount. And for that you need an accountant. | ||
| Apartmentsba.com Member Username: Saint Post Number: 100 Registered: 5-2005 |
I would advise everyone to talk to their accountants and not take really important information solely from message boards. Sure they help but the best is to consult a trained professional when you are talking about taxes. Riyad - I'm not sure what bill you are getting in the mail. You would be the first that I know of that gets a "property tax" bill in the mail, but I guess anything is possible here in Argentina. I can tell you that I've purchased hundreds of properties here in Buenos Aires and I don't get any bill in the mail for this "property"(asset tax). The only bill regarding properties that I get in the mail is the ABL bill which is not a property tax bill. Again, anything is possible here in Argentina but this would be the first that I heard. What does the bill say across the top that you are paying that you are claiming is the property tax bill? | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 168 Registered: 6-2006 |
I think a good plan would be to ask the seller of the property to give you a copy of his property tax bill. At least that will let you know who to pay the tax to. My Argentine Accountant is like Super Man but instead of working at the Daily Planet, he drives a taxi. I am still trying to figure out this personal property(anyting that is not land) tax and real propterty(land and anything attached thereto) tax thing. Indulge me por favor. In the US we get a property tax bill in the mail from the county each year. Federal income tax forms come in the mail. We get a bill in the mail from the county tax collector for the auto license renewal, a tax by any other name. We pay sales tax at the point of purchase. That is a state and county tax. It varies by county at least in Florida that is. So, does anyone know what the difference, if there is any, between personal propterty tax and real property tax. Do you have to pay taxes on jockey shorts? just kidding. One observation. IF the taxing authority does not send out notices, why not? It is a pretty simple idea if you want to collect money from someone to send them a bill. And the property tax, is it a provincial taxing authority or local or Argentine federal? | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 170 Registered: 6-2006 |
My pc is messing up Roberto, if you could delete one of the posts I would appreciate. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 86 Registered: 12-2005 |
Saint: If you dont get a yearly real estate property tax bill then you dont own any property here. Simple. Does'nt any one else own properties here? The other tax you have to pay is when your total assets(Car and Real estate) go over 103000 pesos. For that you need an accountant to prepare it for you. There are sites that describe this tax for you. Here is one: http://www.clarin.com/suplementos/economico/2006/0 3/05/n-00501.htm It is in Spanish.. | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 101 Registered: 5-2005 |
Riyad, My advice to you is to talk to your accountant. That bill you are getting in the mail is your "ABL bill". It isn't the asset tax I'm talking about. It is a small form of a tax on property but very very very little. It's VERY cheap. Something like a few hundred pesos per year. The confusion might be in what we are labeling these taxes. What I'm talking about is the "asset tax" as you mentioned. And be careful...the laws aren't the same for foreigners as it is for locals when it comes to exemptions. I let my accountant handle all of that. Good luck all. | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 105 Registered: 5-2005 |
Hopefully Riyad talked to his accountant as I suggested. MOST foreigners don't know ANYTHING about the asset tax that they must pay on their property each year. They mistakenly think the ABL bill that they get for a few hundred pesos is their "property tax". It is a tax on the property but not the asset tax. As I mentioned, many times throughout this and other forums. You MUST pay asset taxes each year on your property that you own in Argentina including houses or apartments. It's aproximately 0.75% of the title deed price on your title deed. Realtors and Escribanos don't mention this to you as they don't want to "rock the boat" or say or do anything that would dissuade you from purchasing. Remember that it's your responsibility to pay this each year. Also, remember that failure to pay this on time each year results in penalties, and interest charges. Also, as a foreigner, you can NOT sell your property without a special permit from AFIP (local IRS) and they will not grant your permit if you are not current on ALL taxes including your asset taxes. In fact, it's one of the first things they look for. Riyad - I hope you talked to your accountant...Good luck all. | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 243 Registered: 6-2006 |
So if a piece of property sells for $1,000,000 US the tax is 3/4 of one percent or .75% = $7500. Who is the taxing authroity for this tax? The asset tax is .75%. How much is the property tax? It appears there is double taxation on land/real property. In the US if your land or real property as it is called in the law is taxed by the county and if you live in a city it is taxed by the city with some of the tax collected by the city going to the county. A building of any type is considered part of the real property. It is the same in Argentina? The state and the federal government do not impose yearly taxes on real property. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 98 Registered: 12-2005 |
Yeah Saint I am working on it.. Couple of points: One has to pay that asset tax when one's assets go over 102.300 pesos. But you pay the difference exceeding that amount. So if your assets say are 200,000 pesos, you pay a .5% tax over the difference between 200k and 102.3K. Also if one's total assets go above 200,000, you pay a .75% tax over the difference.. And that is an anual tax, due on April 17th each year. Not really much of anything I'd say Also most Argentinians, I think, dont know of this tax, since they assume if it doesn't come in the mail, it doesn't exist. Can you tell me what does "ABL" stand for? Cheers | ||
| Roberto Board Administrator Username: Admin Post Number: 802 Registered: 12-2004 |
ABL > Alumbrado, barrido y limpieza. | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 109 Registered: 5-2005 |
Riyad, Be careful. There are different sets of laws applicable for local residents and foreigners. Certain exemptions that locals have, foreigner do NOT have so best to consult with your accountant. I believe for non-residents, the limits don't apply. The biggest mistakes I have seen foreigners make is they assume that things apply to them when they do not. That's why it's so important you not only deal with an accountant but one that specializes with foreigners taxes. You are right when you said that many locals (residents) don't pay this tax. I know several locals that either didn't know they should be paying it or do but simply don't pay it. Keep in mind again, that when they go to sell they do NOT have to get a permit from AFIP to sell so there really isn't anything forcing them to pay this tax. However, as a foreigner (non- resident) you must get the permit from AFIP to sell and one of the first things they check is to see if you are up to date on your asset taxes so beware. ABL is “un impuesto municipal” …each municipality (depending on the government of each city) has this tax. Certain areas might have a different name for it. It is a TAX that you always pay when you have a property. As Roberto mentioned, “alumbrado, barrido y limpieza” it means “ public lighting in the streets and the cleaning in the streets”. I hope this helps. The reason why I take so much time posting is to help people that really have been given wrong information or really had no clue about these things. I get emails and phone calls on almost a daily basis of foreigners that purchased here and never were told about this tax. They only have problems when they go to sell their property. Good luck. | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 99 Registered: 12-2005 |
Saint To tell you the truth I havent done anything yet, since I have not as yet met 2 or more accountants that coincided on their accounting knowledge. One told me I didnt have to do anything till I got my residence permit (which I have applied for 5 yrs ago) Another said that after 6 months here, even on a tourist visa I would have to start paying those personal assets tax. Another says that I have to pay this personal assets tax on my assets here and anywhere in the world. So not only the locals, but also the accountants, that have no clue of how to go about this. I think the government has to start educating/informing their folks. Also I think that locals are obliged to pay this tax just as do the foreigners. I hope some accountant that knows his/her stuff can one day help us out here in this forum! Cheers Riyad | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 110 Registered: 5-2005 |
Hi Riyad, DEFINITELY you are right. The most frustrating thing about doing business in Argentina is that there is a real lack of knowledge or different opinions. I deal with all these issues on a daily basis as we purchase about 2-3 properties per week. Here in Argentina you can consult 5 different accountants and get 5 different answers. That's not exaggerating. It's the truth. Trust me as I've done it before. I have two accounting agencies on retainer that work with us on a daily basis and last year I had to hire an in-house accountant. You definitely have to pay the asset tax here on your property. Whichever accountant told you that you didn't is wrong. I totally agree with you that it's a really complicated issue here with taxes. Good luck. | ||
| Arial New member Username: Arial Post Number: 2 Registered: 10-2006 |
Riyad, do I understand correctly that you applied for residency five years ago? Is the implication that you have not achieved legal residency yet after 5 years? A supposedly high-powered accountant in BsAs told me that after six months in the country I would have to pay the asset tax on all my assets worldwide. Yes it apparently includes car, bank accounts, real estate and probably your jockey shorts! The rate of .75 is correct. That means for every $100k of assets, you will owe $750.00 in taxes. If I arrange to live outside the country just over 6 months each year I am not subject to the tax, he said. It seems to me that this would keep many persons of means outside the country if only they are informed! Not very smart I think. But please feel free to correct me if I am looking at this incorrectly. I have met North Americans who have bought or are building huge, valuable properties who knew nothing of this tax when I asked them. One N. American restaurant owner even has an Argentina wife and he was incredulous. He has been there 3 years and just could not get through his head that there is such a tax in Argentina. I hope that as others become more informed on the tax issue that you will keep us all informed. This is an important issue for me and I appreciate this thread. Arial | ||
| Riyad Anabtawi Member Username: Riyada Post Number: 100 Registered: 12-2005 |
Arial Yes I have been waiting 5+ yrs on my residence permit. Stagnant bureacrats! That is a new one, even bank accounts! Another accountant told me this personal assets tax that you have overseas only applies to nationals, which makes more sense than applying it to expats. Here is my feed : As far as I know it is a .5% on the difference between the max 103k and what you have over that .. So if you have 200k, then you pay .5% (which is by the way .005, not as you mentioned simply .5, a big difference) over 200k-103k=97k x .005= 485 annually. And if you go over 200k, then it is .75% tax bracket, over the difference Please correct if I am wrong.. Riyad | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 111 Registered: 5-2005 |
Arial, I think you originally had $7,500 then property corrected it to $750 per year. That's actually not too much. In the USA I was paying whopping property taxes!! I disagree with your accountant saying you don't have to pay the asset tax on your property if you are living outside off Argentina for over 6 months per year. Trust me on this. I buy and sell a lot of real estate here. I'm not sure why no one is listening to what I'm saying. I'll mention it again. When you go to sell your property as a non-resident, you MUST get a permit to sell your property. The first thing that they will do is see if you are up to date on your asset taxes (mainly on your property). Most foreigners don't hold bank accounts or other assets here. They will make sure you are up to date on this tax. If not, not only do you have to pay all the back taxes but penalties and interest charges as well. I have a feeling I'm buying and selling and paying more taxes than these accountants that are giving you advice. 0.75% is NOT a lot to complain about..... People blame a lot of people for not knowning about this. In the end, it's YOUR responsibility to know what the laws are. I do think realtors and Escribanos need to do a better job about telling you about this tax but they aren't the ones that are gonig to pay the penalties and interest charges for you not paying it. Stay up to date on this tax... PS - Regarding applying for residency. I've never seen more red tape involved in any country than Argentina. I first applied several years ago with a company recommended by my original realtor. These people were horrible (AFN Visas). They made tons of mistakes, never responded to emails. I waited over 1 year and they never got my visa. And I was investing millions of dollars in Argentina!!! It seemed impossible to me not to get it ASAP. I had many reference letters from the USA including the USA Federal Reserve Bank (who I did business with for almost a decade). I finally fired them and to my surprise, they refused to give me back all my original paperwork (like original birth certificates, etc) unless I paid them their full fee of u$s 1,800. I got stuck in paying them and then hired ARCA. They were more expensive but sometimes you get what you pay for. EVERYONE there was professional and they knew what they were doing. They got my residency within 1.5 months. Email lorena@argentinaresidency.com Lorena is great! They are the only company that guarantees your visa. If they don't get it, they give you your money back. Don't waste your time with other immigration attorneys or try doing it yourself. The system has so much red tape here. It's incredible... | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 247 Registered: 6-2006 |
Yes Riyad 5% is different than .5%. 5% of a hundred pesos is 5 pesos. .5% of a hundred pesos is 50 centavos. The asset tax thing is really confusing because it seems no two accountants tells you the same thing. You would think there would be a tax code that spells it out for you but I have seen no references to one. In the US it is Federal taxes http://www.irs.gov/ In Florida it is http://myflorida.com/agency/44/ In Orange County Florida it is http://www.octaxcol.com/ By doing simple searches I was able to come up with all the taxing authorities for my home in the US. And instead of calling an accountant you can also call the taxing authority and they will give you answers to your tax questions. Making things simple for the common man is a good thing. If Argentina does not have the same than the people should ask the government to do something about it. | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 248 Registered: 6-2006 |
The minimum time to become a resident of the US if you meet all the qualifications is 7.5 years. So five years is not so long to wait if we are talking about the same thing. I am talking about being a citizen of the US. Are you talking about becoming a citizen of Argentina? In my talks with Argentine Immigration there is more than one way to live for extended periods up to the day you kick the bucket in Argentina legally. There is permanent residency which from what I understand is not the same as being a citizen. The taxing of assets by Argentina for property outside the country of foreign nationals is absurd in my humble opinion. I am skeptical about this. Even if there is one I do not see how it is enforceable. If it is true my official position is "I own nothing outside Argentina," not even a pair of boxer shorts. I take all my clothes off the minute I leave Argentina.  | ||
| Riyad Anabtawi Intermediate Member Username: Riyada Post Number: 102 Registered: 12-2005 |
Saint : You said "I think you originally had $7,500 then property corrected it to $750 per year. " You wouldn't have to pay anything if you had only $7,500. I reiterate you would have to reach the first maximum of 103,000 pesos to start paying the .5% tax on the difference of what's above that.. I hope that is clear.. if not please correct me. I agree, this is nothing. Nothing to complain about. What bugs me most though is the fact that on top of that, you have pay personal assets you own outside of Arg.. Even bank accts.. This is rediculous! It should apply to nationals only, especially the corrupt politicians who squander away the nations money and put them in accts overseas. By the way I dont get in Mendoza the "ABL" tax. We get "Impuesto Inmobiliario" and that comes in the mail, just like in the US, where you get it as "Property Tax Bill" Cheers Riyad | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 112 Registered: 5-2005 |
No, I meant the first time I read Arial's post it mistakenly had $7,500 in taxes due instead of $750 due. Then it was edited so nevermind. Really, there is no way Argentina will know what assets you have outside of Argentina. The ones they will focus on are going to be assets that are easy to see with your CDI number such as bank accounts INSIDE of Argentina and also property that is purchased with your CDI (tax ID number). You don't have to worry so much about bank accounts or property that are outside of ARgentina as they will have no way to really know and won't take the time to find out. At the minimum they want you paying the asset taxes on real estate you own here in Argentina. Also, as I mentioned before, I don't believe the minimum amounts apply to foreigners. I've been told that by numerous accountants. Tom - You can't compare things to how they are done in the USA. You will go crazy if you try to compare. Argentina is a third world country and many things are third world when it comes to how they do things. It's a beautiful country but never try to compare the system to first world countries like the USA. You will drive yourself crazy if you do. Really, I think the locals have this system so it's all very confusing so they don't really pay taxes. The system when it comes to banking, taxes, etc. is chaos here. The politicians really prefer it that way. I've purchased real estate from some high ranking politicians (as they all own real estate here in BA). On those deals, they wanted to do some pretty shady things.......Obviously we wouldn't allow it.... Cheers all. | ||
| Tom Woodson Intermediate Member Username: Diverdown48 Post Number: 249 Registered: 6-2006 |
Yes, I remember the first trips I made to Argentina. There were two phrases that I heard over and over again... "Tom, This is Argentina" and "it's OK." It took a while but I finally figured it out. Everything is OK in Argentina. | ||
| Riyad Anabtawi Intermediate Member Username: Riyada Post Number: 103 Registered: 12-2005 |
Yes Tom.. I say that everyday and with a laugh. Todo bien. One more to make things clear for everyone that drops by, again, Saint, the assets that you have to pay that personal tax on is not only Real estate, it is also Cars. Riyad | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 113 Registered: 5-2005 |
Yes...I know it's all assets including cars. The fact of the matter is that most non-residents don't own cars here in Argentina. But yes...it's all assets in Argentina including cars. | ||
| Orlando Martinez New member Username: Bracsim Post Number: 8 Registered: 9-2006 |
Saint: Can I get the ARCA website? What about Lorena, does she speak English, spanish or both? Thanks. | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 114 Registered: 5-2005 |
Sure. It's -- www.argentinaresidency.com Lorena speaks both English and Spanish fluently and I can't see enough good things about her. She is very capable and very ethical. I highly recommend them. Tell her Michael says hello. Good luck. | ||
| Arial New member Username: Arial Post Number: 3 Registered: 10-2006 |
I apologize for the edit. I am new and didn't realize my post goes directly to mailboxes. I realized the mistake immediately and thought I fixed it in time or I would have indicated it as an edit. I think I was not clear. The accountant said that I do not have to pay taxes to Argentina on WORLDWIDE assets if I stay less than six months in the country in a given year. If I stay full time then I become liable for the asset tax on worldwide assets. I would, of course, have to pay taxes to Argentina on income or property situated in Argentina no matter where I am physically. I was speaking only of the worldwide asset tax as I understand it, not property and other taxes in Argentina. I see that as a separate issue. US citizens must pay tax to the US on income worldwide, for the rest of their lives, even if they never set foot back in the US. And must file annually if they have an aggregate of over $10,000 in any foreign bank(s). Which means they must file US tax forms which show bank accounts and income both inside and outside of Argentina, if they have any. I asked the accountant if there was any chance of Argentina comparing those tax forms and he said he didn't think so but it could happen. Before anyone jumps to conclusions about the US tax, the US allows exemptions on income earned (such as salary) outside the US. Unearned income, capital gains and so on are a different category. It gets very complicated. If you are from other countries than the US, you don't have that concern as I understand it. But the US applies that law even to people who have obtained residency in the US, not just citizens. (And people criticize Argentina!) I hope this is helpful and not muddying the waters. It is hard-earned and dearly paid for information and still I am not sure it is exactly correct. | ||
| MIchael Calero New member Username: Michael795 Post Number: 1 Registered: 4-2007 |
Saint, Just read what you had to say and thanks for the education on the asset tax. Michael | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 165 Registered: 5-2005 |
No problem. Also, Riyad is wrong when he says that foreigners have an exemption on the first 103,000 pesos of assets. That only applies to locals. I just saw that a foreigner that we are helping sell his property is having problems selling it because his accountant screwed up his taxes and took the exemption. The exemption is ONLY for locals. Many accountants that are preparing them are preparing them incorrectly so make sure your accountant specializes with foreigners. Cheers all. | ||
| Riyada Intermediate Member Username: Riyada Post Number: 167 Registered: 12-2005 |
Saint. This is confusing me even more! Questions: 1. As a foreigner then, no exemption? In that how much does a foreigner needs to pay? 2. What if the foreigner is a permanent resident? 3. And what if that foreigner has a DNI? Do he/she fall into that exemption? 4. I have a property tax infront of me. It says "Impuesto Inmobiliario 2007". Then it specifies the Square Meters that the property has. I have none of ABL > Alumbrado, barrido y limpieza. This ABL looks like it Obra Sanitaria or something, and I get a bill for that. Let's get this all squared up once and for all. No accountant here knows their stuff. Cheers Riyad | ||
| Apartmentsba.com Intermediate Member Username: Saint Post Number: 166 Registered: 5-2005 |
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