Argentina changed its tax laws effective September 23.
A new 10% tax will apply to dividends paid by Argentine companies, with one exception. The tax will not be collected on dividends paid by one Argentine company to another.
Capital gains from sales of depreciable movable assets and shares, participations, bonds and other securities will be taxed. Such gains had been exempted from taxes for the last 20 years. Individuals will be taxed at a 15% rate on net gains. Foreign legal entities will be subject to a withholding tax on sales at a 13.5% rate on the gross sales price. It is unclear whether foreigners can choose to be taxed on a net basis instead. In cases where both the buyer and seller are foreigners, the buyer must withhold the tax from the sales proceeds and pay the Argentine authorities.