December 29, 2017 Argentina enacts comprehensive tax reform Taxpayers should review the provisions of the tax reform law. Argentina enacted comprehensive tax reform (Law No. 27,430 (the Law)), through publication in the Official Gazette on December 29, 2017. The Law is generally effective January 1, 2018. Specifically, the Law introduces amendments to corporate income tax, personal income tax, value added tax (VAT), tax procedural law, criminal tax law, social security contributions, excise tax, tax on fuels, and tax on the transfer of real estate. It also establishes a special regime comprising an optional revaluation of assets for income tax purposes. For more information on the main changes to the corporate income tax and cross-border transaction provisions, see Tax Alert 2017-2120. A series of Tax Alerts will examine the main changes for the different taxes and topics. Companies doing business and different stakeholders investing in Argentina should consider the consequences of the changes and evaluate the effect on their current Argentine operations. ———————————————
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