Market Taxation Guide - Argentina

23.05.2022

This Market Taxation Guide (Argentina) provides the following details:

  • Reference information about all taxes applied at source to securities deposited in Clearstream Banking1; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

New and improved tax information and procedures that become available will be included on an ongoing basis.

Important note:

This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.

Withholding Tax

Debt securities

Holding restriction?

Withholding
tax rate

Relief at
source

Quick
refund

Standard
refund

Yesa

0 - 35%b

Government bonds

n/a

n/a

n/a

Corporate bonds

n/a

n/a

n/a

Equities

Holding restriction?

Withholding
tax rate

Relief at
source

Quick
refund

Standard
refund

Yes

7%

Relief at source and reclaim of withholding tax on dividends from Argentinian equities are not available through Clearstream Banking.

n/a

n/a

n/a

a. Investment restrictions. Refer to the Market Link Guide for information.

b. Government bonds: 0%, Unlisted Corporate bonds: 35% (15.05% if the issuer or the recipient of the funds is a banking institution)

Types of securities

The eligible securities issued in Argentina are as follows:

Government debt securities, including:

  • Federal government debt securities:
    • USD-denominated government bonds:
      • Bonos de Tesorería (BONTES);
      • Bonos del Gobierno Nacional (BODEN);
      • Bonos Externos (BONEX);
      • Bonos de Consolidación (BOCON);
    • ARS and USD-denominated Treasury Bills (Letras del Tesoro);
    • ARS-denominated government bonds (Bonos de Consolidación (BOCON));
    • ARS and USD denominated Treasury Bills (BCRA-Bills/”LEBACs”);
    • ARS and USD denominated Treasury Notes (BCRA-Notes/”NOBACs”); 
    • Other domestic issues;
  • Provincial government debt securities;
  • Corporate debt securities (Obligaciones negociables);
  • Certificates of Deposit (CDs);

Equities, including:

  • Common shares;
  • Preferred shares.
  • Public Investment Funds

Capital gains tax

Typically, there is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. However, capital gains tax may be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

-----------

1. “Clearstream Banking” refers collectively to Clearstream Banking S.A. and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts).