www.pwc.com/its International Tax News Edition 78 August 2019 Welcome Keeping up with the constant flow of Featured articles international tax developments worldwide can be a real challenge for multinational companies. International Tax News is a monthly publication that offers updates and analysis on developments taking place around the world, authored by specialists in PwC’s global international tax network. We hope that you will find this publication helpful, and look forward to your comments. Bernard Moens Global Leader International Tax Services Network T: +1 703 362 7644 E:
[email protected] In this issue Legislation Administrative Judicial EU/OECD Treaties Legislation Argentina Argentina approves tax regime for Among others, the following tax benefits knowledge-based activities apply to the extent that taxpayers comply with certain requirements: Law No. 27,506, published on June • 15% reduced corporate income tax rate 10, enacted a new regime promoting applicable to fiscal years beginning on or knowledge-based activities. The regime’s after January 1, 2020 main tax benefits include a reduced • executing tax stability agreements with federal corporate income tax rate of 15% and a tax authorities providing that the federal tax tax stability agreement. The new regime burden on income from Promoted Activities cannot increase until December 31, 2029 replaces the existing regime, which was • ability to claim withholding taxes, VAT limited to the software industry, and withholding exemptions, and reduction in will be effective from January 1, 2020 social security contributions through December 31, 2029. Multinational entities engaged in Promoted Activities should revisit their Argentinian operations in order to The new regime aims to encourage the creation, benefit from the new regime.