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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city
MY COLOUR

Commercial Information Circulars

24-hour hotline : 23 922 922

e-mail address : enquiry@tid.gov.hk

Ref : EIC 411/2

16 October 2012

Dear Sirs,

Commercial Information Circular No. 833/2012

Argentina : Amendment of Anticipated Profit Tax and Advance Value-added Tax Regulations

The Federal Administration of Public Revenue (AFIP) of Argentina issued a General Resolution No. 3373/2012 on 16 August 2012 to amend the anticipated profit tax and advance value-added tax (VAT) rates originally set out in General Resolution No. 2281/2007 and No. 2937/2010.

2. Importers will benefit from a 6% anticipated profit tax, or 11 % for importations made for the importer's own use or consumption. In the circumstances when the declared free on board (FOB) value of certain products is less than 95% of the customs value, the anticipated profit tax will be assessed at a rate of 11% for importations made for the importer's own use or consumption, or 7% for other import transactions. Also, the advance VAT rate applicable to VAT-registered entities is 20% or 10% for imports involving personal properties.

3. For details, traders are advised to consult their importers in Argentina and/or the Argentine General Resolutions (in Spanish) available at:

  • General Resolution 3373/2012:
    http://biblioteca.afip.gov.ar/gateway.dll/Normas/ResolucionesGenerales/
    reag01003373_2012_08_16.xml 

  • General Resolution 2281/2007:
    http://biblioteca.afip.gov.ar/gateway.dll/Normas/ResolucionesGenerales/
    reag01002281_2007_07_30.xml

  • General Resolution 2937/2010:
    http://biblioteca.afip.gov.ar/gateway.dll/Normas/ResolucionesGenerales/
    reag01002937_2010_10_07.xml.

ENQUIRIES

4.For enquiries about the content of this circular, please contact Miss S Y TANG at telephone number 2398 5405.

Yours faithfully,




(Ms Cindy CHENG)

for Director-General of Trade and Industry





Note : While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.