In a bid to create a more investor friendly environment and boost economic growth, the Argentinean government has proposed a number of tax changes to spur capital investment.
In an announcement made by the Economy Minister Roberto Lavagna last Friday, individuals and companies learnt that they may be exempt from paying the 21% value added tax on capital goods expenditures and investments connected with infrastructure.
This saving can be credited against other taxes or returned in cash after three months.
As an alternative, Lavagna announced that companies may choose another option which will allow them to amortize the cost of capital investments at a faster rate for tax purposes, thus reducing their taxable profits, and in turn the amount of tax that must be paid.
Other measures announced by the Economy Minister included a reduction in the financial transactions tax and a rise in employer contributions for high income earners.
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