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December 7, 2022
2022-1825

Argentine Congress approves Budget bill for 2023

The Argentine Chamber of Senators gave final approval to the Budget bill for 2023 on 17 November 2022. The bill includes a new disclosure program for unreported foreign currency and the expansion of the normalization program of local and foreign currency for construction investments. In addition, the bill incorporates the possibility for Argentine corporations to defer the positive tax inflationary integral adjustment for income tax purposes in three fiscal periods if certain conditions are met.

The bill had been partially approved by the Chamber of Deputies on 26 October 2022. For more information, see EY Global Tax Alert, Argentine Lower House of Congress approves Budget bill for 2023, dated 14 November 2022.

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For additional information with respect to this Alert, please contact the following:

Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires

Ernst & Young LLP (United States), Latin American Business Center, New York

Ernst & Young LLP (United Kingdom), Latin American Business Center, London

Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

 

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