New tax on all properties due by September 15!
Just thought I'd warn ya'll!
There is a NEW additional tax being implemented by LAW for ALL properties in the Province of BUENOS AIRES. This tax is going to be DUE between the 5 and the 15th of September, 2007.
If you owned a property or automobile on or before December 31st, 2006, you will have to pay this additional tax!
It is a difficult tax to calculate and requires getting a "PIN" from the AFIP on their internet site.
The tax is from 0.25% TO 0.75% of the value of your property or (automobile) It depends on the properties value AND your accumulated wealth!
So get ready to pay!
(My accountant just informed me that this NEW tax on my property will come to $1000 (pesos)
(and just in case you are thinking of dealing with it at another time, BE AWARE that the AFIP can freeze your local bank account. Happened to my neighbors!
Paul.
[url]www.hereicomeargentina.com[/url]
Just to make this clear READ!
Yes, as a matter of fact it is a tax on ALL your wealth, including cars, boats, foreign deposit accounts, etc. But for all of you Americans living here in be. A. I thought to only mention the tax on property for the sake of simplicity. Now, here's the catch. And it's in YOUR favor. It is a tax ONLY valid for properties in the PROVINCE of BA. And ONLY includes your property in the CITY of BA, IF you also have a property outside of the city! (I'll repeat this later in case you didn't get it)
The name of this additional tax is called, "Adicional Impuesto Inmobilario Urbano why a Los Automotores" which requires you to fill out "Formulario R-800"
The resolution number is: "Ley 13648, Prov. Bs. As." reglementado por decreto: DN 37, 2007. I might have a number or decimal off there. Please forgive me)
And yes, Marc, you were close. The law applies to those that have wealth of $500,000 or more IN THE PROVINCE. But includes your bank accounts too!
As I mentioned. Your property in CAPITAL actually will be added into your wealth IF you do have that property in the province. Did you get that?
Bottom line. If you just have an apartment in Capital. Don't worry about it.
The ABL increase is a different matter
The hype about the ABL increase has been postponed. But that is not the same topic I am referring to.
Please read the post previous to this to see the exact resolultion number.
This Tax has been POSTPONED!
There was only about a 30% voluntary payment on behalf of the population and therefore the government has postponed this tax. For now, it is NOT REQUIRED. But they are supposedly going to implement it fully this year.
