Argentina

Tax withholdings made by local entities and some specific tax payments might be taken as payments on account of the respective final tax liability.

A 30% tax collection regime applies to certain foreign-currency transactions, including payments made by credit, debit or purchase cards, the purchase of passenger transportation services to destinations outside Argentina, and travel packages or services abroad hired through Argentine travel agencies.    The collection is creditable against Argentine income tax or personal assets tax, as applicable.

Withholdings under the above-mentioned regime are creditable against wealth tax in case of registered small taxpayers (Monotributistas) and against income tax for other taxpayers.

Additionally, a percentage of the tax on credits on Argentine banks accounts can be taken as payment on account of the respective final income tax liability.