Argentina

Individual - Other tax credits and incentives

Last reviewed - 18 August 2021

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 withholding regime is applicable to the purchase of transportation tickets (air, sea, or land) and holiday packages to foreign countries hired in Argentina, which is only applicable when the transaction is settled by cash. Applicable tax rate is 5% on the amount of the transaction.

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.