June 4, 2021
Argentine Senate approves tax reform bill that would raise corporate income tax rates
The new tax reform approved by the Argentine Congress increases tax rates by replacing the current fixed tax rate with a progressive tax scale. It also extends the 7% withholding tax rate currently in force to dividends from profits accrued in tax years beginning January 1, 2021 and thereafter.
On June 2, 2021, the Argentine Senate approved the bill that would increase corporate income tax rates for tax years beginning January 1, 2021 and onwards. The tax reform will be published in the Official Gazette in the coming days. The bill was approved by the Chamber of Deputies on May 19, 2021. For more information, see Tax Alert 2021-1050.