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07/12/2018

Decree No 1043/2018 Non-remunerative allowances – Prior communication procedure for dismissals without justice cause.

Non-remunerative allowances and procedure prior the dismissals of an employee without a justified cause are the two subjects introduced by the Decree N° 1043/2018 published in the Official Gazette on November 13, 2018.   NON-REMUNERATIVE ALLOWANCES It is established through this decree a non-remunerative allowance from the 1st of November for all employees under employment […]

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26/11/2018

Javier Canosa wrote an article entitled “The Aires of Change” about the effects of the tax reform in Argentina.

The magazine Journal Step launched in September 2018 an edition where Javier Canosa wrote an article explaining the effects of Argentina´s significant tax reform. Click here to read the article: https://www.step.org/journal/step-journal-august-september-2018/aires-change

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26/11/2018

New Treaty to avoid Double Taxation between Argentina and Chile

A new Treaty for the Elimination of Double Taxation in Relation to Taxes on Income and Equity and to Prevent Tax Evasion and Tax Avoidance between Argentina and Chile (the “DTT”) took effect on January the 1st, 2017. This document is based on the model prepared in the 10th update of the Bilateral Agreement Model […]

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22/11/2018

General Resolution No. 4236/2018 – Argentine Tax residency

On May 8th, 2018, the Federal Tax Authorities (“AFIP”) published the General Resolution No. 4236/2018 in the Official Gazette, which regulates the way to determine the tax residence, the loss of resident status and certain double residence’s cases. The Income Tax Law  (“ITL”) determines that resident individuals in Argentina, residents pay taxes on their whole […]

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15/08/2018

Javier Canosa nominated in Who´s Who Legal: M&A and Governance 2017

Javier Canosa has been nominated as one of the world´s leading practitioners in the field of M&A and Governance 2017. Since 1996, Who’s Who Legal has nominated the best legal practitioners in multiple areas of business law. In total, this site features over 17,000 of the world’s leading private practice lawyers from over 100 countries. […]

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06/07/2018

Javier Canosa contributed with The 2017 Year In Review

Javier Canosa contributed with the 2017 Year In Review, an annual survey of international legal developments and publication of the ABA/Section of International Law   Click here to read the entire article

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28/06/2018

Amendment Protocol to the Tax Treaty between Brazil and Argentina. Publication in the Official Gazette.

On May 23, 2018, Law 27441 was published in the Official Gazette, thus approving the Amendment Protocol to the Treaty to Avoid Double Taxation and Prevent Tax Evasion between Brazil and Argentina (the “Protocol”). This Protocol has not been ratified yet by the Brazilian Congress. The treaty executed in 1980, currently in force, establishes that […]

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28/06/2018

IGJ Resolution 3/2018 – IGJ introduces the obligation to obtain official signature and sealing of corporate books via web.

On June 7, 2018, Resolution No. 3/2018 (the “Resolution”) of the Argentine Business Entities Controlling Body (“IGJ”) was published in the Official Gazette. This Resolution introduces amendments to IGJ Resolution No. 7/2015 by including the obligation to obtain the official signature and sealing of corporate books via web. The Resolution is in line with the […]

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30/05/2018

2018 STEP Latam Conference. Thesis writing competition.

Starting this year (2018), the STEP LatAm Conference is encouraging students and young professionals to write a scholarly thesis paper. Each year the paper will be on a current topic for advising families across borders in Latin America. For more information, please click here.

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29/05/2018

Approval of the amendment to the Treaty to Avoid Double Taxation and Prevent Tax Evasion between Argentina and Brazil.

During MERCOSUR summit, on July 21st 2017, in Mendoza, Argentina, the authorities of Argentina and Brazil executed an amendment protocol to the treaty to avoid double taxation and prevent tax evasion (“DTT”) between said countries (the “Protocol”). On May 5th, 2018, the Argentine Legislature, by means of Law No. 27441, approved the Protocol. To see […]

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16/04/2018

Canosa Abogados is part of the German Desk 2018

Canosa Abogados is part of the German Desk 2018. The German Desk is a working group of German speaking auditors, accountants, lawyers and notaries members of AHK Argentina who meet to discuss current legal issues. This group also works to achieve an international network of contacts. Therefore, a regional symposium is held each year with […]

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12/04/2018

Law No. 27401: Corporate criminal liability

Another step towards the Argentine access to OECD (Organization for Economic Co-operation and Development). Thanks to the enactment of the Corporate Criminal Liability Law, Argentina is at the same position as other countries such as Chile, Brazil, Colombia, Spain and France. Under this Law, legal persons are bound to review their internal rules in order […]

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03/04/2018

Javier Canosa has been selected by Who´s Who Legal as one of the world´s leading M&A and Governance lawyers.

Javier Canosa has been nominated as one of the world´s leading practitioners in the field of M&A and Governance 2018. Since 1996, Who’s Who Legal has nominated the best legal practitioners in multiple areas of business law. In total, this site features over 17,000 of the world’s leading private practice lawyers from over 100 countries. […]

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26/03/2018

Canosa Abogados won a Mondaq Award.

Mondaq is a company which every month publishes hundreds of legal and financial articles from over 80 countries around the world.  At the end of every month, for each country, Mondaq analyses which contributing author firms were read the most by Mondaq´s registered readers. In this context, Canosa Abogados won the award for Contributor Most […]

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20/03/2018

Argentina introduces a large Tax Reform

On December 29, 2017, Law No. 27340 (the “Law”) was enacted, introducing important amendments to the Argentine tax system. The most remarkable amendments are related to national (federal) taxes, social security contributions and the criminal tax regime. The main amendments to the Argentine tax system introduced by the Law include the following:   INCOME TAX […]

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19/02/2018

Javier Canosa contributed with William Hoke’s article “Police Arrest Data Traffickers at National Tax Agency” for Tax Analysts

Javier Canosa contributed with William Hoke’s article “Police Arrest Data Traffickers at National Tax Agency” for Tax Analysts Click here to read the entire article   Tax Analysts suscribers are invited to read more here    

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15/02/2018

Javier Canosa contributed with a report for the Latin America Regional Forum update of the International Bar Association Legal Practice Division

Javier Canosa contributed with a report for the Latin America Regional Forum update of the International Bar Association Legal Practice Division, called “Irruption of new business form promises to revolutionise corporate structures in Argentina: Simplified Corporations” Click here to read the report.

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31/01/2018

The New Business Form – Simplified Corporations (SAS) in Argentina: Converting into Simplified Corporations

Conversion into SAS. Business entities incorporated in accordance with the Companies Law may adopt the SAS form. Below is a sample of Articles of Incorporation and Bylaws of a Simplified Corporation. Sample of Articles of Incorporation and Bylaws of a SAS. Articles of Incorporation and Bylaws of “[corporate name] S.A.S”. These Articles of Incorporation and […]

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31/01/2018

The New Business Form – Simplified Corporations (SAS) in Argentina: Governing and Management

Freedom of formalities: Shareholders may determine the corporate structure and the rules governing the operation of the corporate bodies. When the corporation has only one shareholder, he may exercise the powers conferred by law to the corporate bodies, so long as they are compatible, including the powers of the legal representative. Management body. Managers who […]

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31/01/2018

The New Business Form – Simplified Corporations (SAS) in Argentina: Articles, Bylaws and Shares

First filing of the Articles and Bylaws and subsequent filings. In the City of Buenos Aires, the Business Entities’ Controlling Body (“IGJ”) is the entity in charge of the incorporation of the SAS. The filing will be made through a Management System of Digital Documentation (“GDE”) and the system of Remote Proceedings (“TAD”). The number […]

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31/01/2018

Simplified Corporations (SAS): The new business form that promises to revolutionize corporate structures in Argentina

Law 27,349 known as the “Venture Capital Support Law” (the “Law”) promises to revolutionize the daily practice of corporate law and business affairs. In business affairs, legislation is enacted after there is a usual business practice, that is, generally the legal regimes regulate a habitual business practice. In this case –the Venture Capital Support Law […]

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26/01/2018

Decree No 27/2018: De-bureaucracy and simplification in corporate matters.

On January 11th, 2018 Decree No 27/2018 (hereinafter, the “Decree”) issued by the Argentine Executive Branch was published in the Official Gazette.  The Decree has two main purposes which are “De-bureaucracy and Simplification”. The Decree is a long regulation and covers different issues such as: i) National Health Service and Agro-food Quality, ii) Companies, iii) […]

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19/01/2018

The Argentine Tax Authorities repeal the withholding system for Income Tax when both seller and purchaser of participations in local companies are foreign residents

On January 11, 2018 the Argentine Tax Authorities (“AFIP”) issued General Resolution No 4190/2018 (“GR 4190”), published in the Official Gazette on January 12th. GR 4190 repeals the withholding system for income tax in cases where both the seller and the purchaser of holdings in local Argentine companies are not residents of Argentina. Background Law […]

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13/12/2017

Canosa Abogados contributed to the 2018 edition of “Getting the Deal Through: Private Client 2018”

Javier Canosa contributed with a report for “Getting the Deal Through, Country Focus: Private Client 2018” Click here to read the report.

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06/11/2017

IGJ Resolution 8/2017. Amendments to the rules related to the Argentine Simplified Corporations.

On October 6, 2017, Resolution No. 8/2017 (the “Resolution”) of the Argentine Business Entities Controlling Body (“IGJ”) was published in the Official Gazette. This Resolution introduces amendments to IGJ Resolution No. 6/2017 which approved the rules related to the Argentine Simplified Corporations (“SAS”). The Resolution introduces the following amendments: Articles of incorporation made by a […]

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31/10/2017

The creation of the Global Investment Advisory Agent.

The Argentine Securities Commission (“CNV”) issued General Resolution No. 710 (the “Resolution”) which introduces the concept of the Global Investment Advisory Agent (Agente Asesor Global de Inversiones, the “AAGI”), regulated under Chapter VII, Title VII. The Resolution introduces the following: Requirements to be eligible for AAGI: The entity must be a corporation and its purpose […]

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24/10/2017

Amendment to the Treaty to Avoid Double Taxation and Prevent Tax Evasion between Argentina and Brazil.

During MERCOSUR summit, on July 21st 2017, in Mendoza, Argentina, the authorities of Argentina and Brazil executed an amendment protocol to the treaty to avoid double taxation and prevent tax evasion (“DTT”) between said countries (the “Protocol”). The main amendments of the Protocol include the following: Taxes included: the Protocol has extended the application of […]

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17/10/2017

Argentina implements new Transfer Price Country by Country Report implementing Action 13 of BEPS.

On Sep 20, 2017 the National Tax Bureau issued General Resolution E- 4130/2017 (the “Resolution”) within the framework of action 13 of the project Base Erosion and Profits Shifting (“BEPS”) launched by the OECD and the G20. The new Resolution provides for an annual informative regime comprising the filing of a country-by-country report to entities […]

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10/10/2017

The irruption of a new business form which promises to revolutionize the corporate structures in Argentina: Simplified Corporations (SAS).

Law 27,349 known as the “Venture Capital Support Law” (the “Law”) promises to revolutionize the daily practice of corporate law and business affairs. In business affairs, legislation is enacted after there is a usual business practice, that is, generally the legal regimes regulate a habitual business practice. In this case –the Venture Capital Support Law […]

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14/09/2017

Venture Capital Law: Fiscal Benefits.

Law 27349 (the “Law”), published in the Official Gazette on April 14 2017, also known as the Venture Capital Law, sets forth certain favorable conditions aimed at helping venture capital companies. Although it is true that the introduction of the Simplified Corporation (SAS) – described in previous NLs – is the most important aspect of […]

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31/08/2017

AFIP filed a Lawsuit for Tax Data Breach.

On August 29, the Argentine Tax Authorities (“AFIP”) filed a lawsuit for tax data breach and fraud due to the disclosure of information of some important taxpayers. Precisely, on August 27, Página 12, an Argentine newspaper, published information about taxpayers who have adhered to the tax amnesty regime. AFIP aims to determine how this tax […]

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14/08/2017

Tax Installment Payment Plan: AFIP General Resolution No. 4099/2017.

On July 28th, 2017, General Resolution No. 4099/2017 (the “Resolution”) of the Argentine Tax Authorities (“AFIP”) was published in the Official Gazette. This Resolution establishes an installment payment plan aimed at taxpayers who have tax debts incurred from June 1st 2016 to May 31st 2017. This plan known as “Fiscal Bridge” is an installment payment […]

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31/07/2017

Resolution 5/2017 of IGJ: Incorporating a Limited Liability Company in 24 hours.

On July 11th 2017, General Resolution No. 5/2017 (the “Resolution”) of the Argentine Business Entities´ Controlling Body (“IGJ”) was published in the Official Gazette. In accordance with this Resolution, a Limited Liability Company (“LLC”) which is filed with IGJ under an expedited process may be incorporated in 24 hours. Pursuant to this Resolution, LLCs may […]

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18/07/2017

Javier Canosa is again nominated in Who´s Who Legal: Real Estate 2017

Javier Canosa has been nominated as one of the world´s leading practitioners in the field of Real Estate. The selection was based on a worldwide comprehensive research process which analyzes the recommendations of peers and clients. “Who’s Who Legal: Real Estate 2017” will be published in August. Click here to access the Who´s Who Legal webpage.

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14/07/2017

Some comments on Switzerland, the OECD, the Common Reporting Standard and the Automatic Exchange of Financial Information.

In 2018, Switzerland will be part of the programme for the automatic exchange of financial information developed by the Organisation for Economic Co-operation and Development (“OECD”). Under this programme, the Switzerland´s private banks will put an end to bank secrecy. In other words, Switzerland will begin to compile information about their non-resident clients which will […]

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07/07/2017

Javier Canosa nominated in Who´s Who Legal: M&A and Governance 2017

Javier Canosa has been nominated as one of the world´s leading practitioners in the field of M&A and Governance 2017. Since 1996, Who’s Who Legal has nominated the best legal practitioners in multiple areas of business law. In total, this site features over 17,000 of the world’s leading private practice lawyers from over 100 countries. […]

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06/07/2017

AML Rules in Argentina. New Scenario. Financial Information Unit: Resolution 30-E/2017

On June 16, 2017, the Argentine Financial Information Unit (FIU) issued Resolution 30-E/2017 (the “Resolution”) establishing the rules to be adopted and applied by certain entities when managing risks associated with Money Laundering and Financing of Terrorism (ML/FT). This Resolution, which replaces FIU resolution No. 121/2011, is aimed at financial entities and foreign currency exchange […]

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30/06/2017

Exception to the Tax on Minimum Presumed Income.

On May 18, 2017, the Argentine Tax Authorities (“AFIP”) issued General Instruction No. 2/2017, adopting the ruling of the Argentine Supreme Court of Justice (the “Court”) in the cases “Hermitage SA” (2010) and “Diario Perfil SA” (2014). In accordance with this ruling, AFIP exempts taxpayers from paying the tax on minimum presumed income when they […]

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26/06/2017

Javier Canosa contributed with a report for Getting the Deal Through.

Javier Canosa contributed with a report for Getting the Deal Through, Country Focus, called  “Argentina: The Legal Landscape”. Click here to read the report.

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23/06/2017

Javier Canosa collaborated on the “Economic Freedom Audit in Argentina 2017”.

Javier Canosa collaborated on the “Economic Freedom Audit in Argentina 2017: expanding the economic freedom”, a report of Fundación Libertad y Progreso in cooperation with Fraser Institute and Atlas Network. This report analyzes some of the most relevant economic problems in Argentina such as government consumption, taxes, transfer and subsidies, judicial efficiency, property rights, contract […]

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15/06/2017

Limit to penalties for unpaid taxes.

On March 30, 2017, the National Court of Appeals on Civil and Commercial Matters (the “Court”), courtroom “D”, in the case captioned “Plásticos Arcobaleno S.A. s/ quiebra s/incidente de revisión por AFIP”, affirmed by majority the judgment rendered by the first instance court, and confirmed the 30% limit to penalties for unpaid taxes owed to […]

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05/06/2017

Canosa Abogados is part of the German Desk 2017

Canosa Abogados is part of the German Desk 2017. The German Desk is a working group of German speaking auditors, accountants, lawyers and notaries members of AHK Argentina who meet to discuss current legal issues. This group also works to achieve an international network of contacts. Therefore, a regional symposium is held each year with […]

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30/05/2017

Javier Canosa was part of 2017 German Desk.

Javier Canosa was part of 2017 German Desk, which took place on May 18th and 19th in Puebla, Mexico. During the symposium, matters related to law, businesses and taxes were discussed.

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17/05/2017

Progressive transfer of powers and functions of the Argentine Business Entities´ Controlling Body to the City of Buenos Aires.

In January of this year, Mauricio Macri, the President of Argentina, and Horacio Rodríguez Larreta, the head of the government of the City of Buenos Aires, signed agreements to transfer national powers to the Autonomous City of Buenos Aires. This measure aims to advance the process of autonomy of the City of Buenos Aires following […]

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12/05/2017

New regulation of the Argentine Migration Office on the permanent residence of minors.

On 3rd April 2017, Regulation 1489/17 of the Argentine Migration Office (the “Regulation”) was published in the Official Gazette which modifies the requirements for granting permanent residence to minors. The Regulation substitutes article 2 of Regulation 4880/2015, which established that minors were required to obtain the express consent of both parents (in cases where both […]

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25/04/2017

New Law regulating Entrepreneurs

On April 12, 2017, the Executive published Decree Law No. 252/2017 on the Official Gazette by which Law 27,349 was enacted (the “Entrepreneurs´ Law” or the “Law”). This Law introduces mechanisms that simplify the process of creation and development of enterprises, as well as tax benefits and the creation of funds for their financing. Nowadays, […]

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18/04/2017

Regulation of the Law of Access to Public Information

The Executive Branch of Argentina issued Decree 206/2017 (the “Decree”), published in the Official Gazette on 28 March 2017, which partially regulated the implications of Law No. 27,275 of Access to Public Information (The “Law”), which was enacted in September 2016 (see http://canosa.com/en/se-sanciono-la-ley-de-acceso-la-informacion-publica/). The Law sought to ensure access to public information on behalf of […]

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21/03/2017

Bill to reform the Capital Market law. Tax aspects.

On November 16 2016, the Executive Branch presented the proposed reform of Capital Market Law No. 26,831. In general terms, the main reforms that the project establishes are the following: To incorporate the concept of administrative investment agents, i.e. those who offer regular financial advice and management services authorized by the CNV. Repeal the power […]

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20/03/2017

The deadlines to apply for the tax “cap” and to request the certificate of taxpayer compliance expire on March 31 2017.

On March 31 2017, the deadline to apply for the tax amnesty in Argentina (http://canosa.com/argentina-passes-omnibus-act/) expires, as does the deadline for confirming data through the affidavit referred to in Section 85 of the Law of Tax Amnesty 27,260 (the “Voluntary Disclosure Program”) for those who have not applied to the Voluntary Disclosure Program. Tax cap […]

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09/02/2017

Public Ethics Law: Regime for presents made to Public Officers

On November 18, 2016 the Executive Branch issued Decree No. 1179/2017 (the “Decree”) (published on the Official Gazette on November 21, 2016), which implements article 18 of the Public Ethics Law – Law No. 25,188 (the “Law”). This article establishes that “Public Officers cannot receive presents, gifts or donations, assets or services as a result of […]

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30/01/2017

Argentina and the United States surprisingly move forward to an agreement implementing FATCA. Possibly IGA 1.

We know that, although the USA – during the administration of Barack Obama in June 2010- has subscribed the multilateral agreement of the Organization for Economic Co-operation and Development (OECD) on Administrative Assistance in Tax Matters (“MCAA”), the fact is that they have not ratified it yet. Moreover, the distribution of the American Congress (republican […]

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30/01/2017

Argentine Tax Authorities made official the Risk Profile System (SIPER)

The Argentine Tax Authorities (“ATA”) issued on January 12, 2017 the Resolution No. 3985/17 (published in the Official Gazette on January 12, 2017) which made the Risk Profile System (“SIPER”) official. Through this system, ATA will categorize, control and regulate taxpayers. The first article of the Resolution establishes that the aim is to “optimize the […]

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24/01/2017

The Argentine Tax Authorities introduced a new Identification Code for foreign entities that make financial investments in Argentina.

The Argentine Tax Authorities (“ATA”) issued Resolution No. 3986/2017 (published in the Official Gazette on January 13, 2017), introducing a new identification code that will allow the operation of foreign entities that invest in Argentina but do not hold a tax identification number (“TIN”) or an identification code (“IC”). This code, named Foreign Investments Code […]

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23/12/2016

New regulations regarding the Tax Amnesty Regime

On November 29, 2016, the Executive Branch issued Decree No. 1206/16 (the “Decree”), which partially modifies Decree No. 895/16, and regulates the Tax Amnesty Regime (Law No. 27,260). This Decree was published in the Official Gazette on November 30, 2016, and entered into force on December 1. First of all, the Decree establishes that the […]

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29/11/2016

Argentina and Switzerland signed a joint declaration on the introduction to AEOI

On November 16, 2016, Argentina and Switzerland signed a joint declaration about the introduction of a reciprocal automatic exchange of financial information for tax purposes (AEOI). This document, signed by Alfonso Prat-Gay, the Argentinian Finance Minister and Jörg Gasser, the Swiss State Secretary for International Financial Matters, aims at collecting information in accordance with the […]

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09/11/2016

The Argentine Tax Authorities extended the term for adhering to the Tax Amnesty Regime

Through Resolution No. 3,951 (the “Resolution”), published on November 2, 2016, the Argentine Tax Authorities extended the term for entering the Tax Amnesty Regime, established by Law No. 27,260. Resolution No. 3,919 established that until October 31, 2016 individuals and estates could confirm in the website of AFIP their affidavit regarding the Income Tax and […]

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03/11/2016

Resolution No. 3943/2016 AFIP

On October 7, 2016, the Argentine Tax Authorities (AFIP) issued Resolution No. 3943 (the “Resolution”), that partially modifies Resolutions No. 3919 and 3920 which regulate the Tax Amnesty Regime established by Law No. 27260. First, the Resolution conforms to Article 10 of Resolution No. 3919 that regulates the case of individuals who have currency or […]

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28/10/2016

Law on Access to Public Information has been enacted.

On September 29, 2016, Argentina enacted Law No. 27275 – Law on the Right to Access to Public Information (the “Law”). The Law aims at guaranteeing the full exercise of the right to access to public information, fostering citizen involvement, and transparency of public administration. For such purposes, the following principles are considered: Presumption of […]

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24/10/2016

The Ibero-American Multilateral Agreement on Social Security has entered into force as well as its implementation agreement

The Ibero-American Multilateral Agreement on Social Security (the “Agreement”) entered into on November 10, 2007, in Santiago de Chile, as well as its implementation agreement entered into in Madrid in 2008, both became effective in Argentina last August 1, 2016. The Agreement is an international legal norm within the framework of the Ibero-American Social Security […]

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17/10/2016

Javier Canosa was part of the event “Argentina: a year under Macri”.

On October 2016, Javier Canosa gave a presentation at a seminar focused on the administration of President Mauricio Macri. The seminar “Argentina: a year under Macri” was held in the offices of the law firm Peters & Peters Solicitors LLP, London. Click here for more information.

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20/09/2016

The National Securities Commission incorporates the figure of the Market Maker

On the 30th of August 2016 the Resolution number 673/2016 (henceforth the “Resolution”) was published in the Oficial Gazette  of the National Securities Commission (henceforth the “CNV”). The Resolution modifies the “regulations” of the CNV and creates the figure of the “Hacedor de Mercado” (Market Maker). The Market Maker’s main role is to foster the […]

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30/08/2016

The Argentine Tax Authorities (AFIP) issued the regulation for the Tax Amnesty Regime (disclosure program) established by Law No. 27260.

AFIP issued the regulation for the Tax Amnesty Regime (Law No. 27260) by means of General Resolution No. 3934 – issued on August 23, 2016 – thus supplementing AFIP General Resolution No. 3919 – issued on July 28,2016 – (the “Regulation”). First, the Regulation clarifies that the enactment day of Law No. 27260 (the “Law”) […]

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08/08/2016

Regulation of Tax Amnesty under Decree No.895/2016

On July 28, 2016, the Executive Branch issued Decree No. 895/2016 (the “Regulatory Decree”) that regulates Law No. 27,260 (the “Law”) which establishes a wide tax amnesty. First of all, the Regulatory Decree provides that the family members mentioned in the Law need not be Argentine residents. Please remember that the Law establishes that the […]

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14/07/2016

Argentina passes Omnibus Act: (i) A Historic Amendment Program for Retirement, (ii) A Wide Tax Amnesty, (iii) Tax Moratorium, (iv) Amendment to the Personal Property Tax, and (v) The Creation of a Committee for the drafting of a Bill for Amendment to the Tax System. The Executive issued the regulation of the Act.

On July 22, 2016 Law 27,260 was enacted (the “Act”). This Act (i) establishes a National Program for a Historic Amendment to the retirement and pension system (the “Program”), (ii) establishes a wide tax amnesty, (iii) establishes a tax moratorium, (iv) amends the personal property tax, and (v) creates a committee for a deep tax […]

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28/06/2016

Javier Canosa contributed in a roundtable published in Who’s Who Legal: M&A and Governance 2016

Javier Canosa contributed in a roundtable published in the last edition of Who’s Who Legal: M&A and Governance 2016. Click here to access the article.

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22/06/2016

Canosa Abogados part of the German Desk 2016

Canosa Abogados is part of the German Desk 2016. The German Desk is a working group of German speaking auditors, accountants, lawyers and notaries members of AHK Argentina who meet to discuss current legal issues. This group also works to achieve an international network of contacts. Therefore, a regional symposium is held each year with […]

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05/06/2016

Javier Canosa has been selected by Who´s Who Legal as being among the world´s leading Real Estate lawyers

Javier Canosa has been selected as being among the world´s leading Real Estate Lawyers. The selection was based on a worldwide comprehensive research process which analyzes the recommendations of peers and clients. Who’s Who Legal: Real Estate 2016 will be published in August. Click here to access the Who´s Who Legal webpage.

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17/05/2016

Amidst Rumours of a New Extensive Tax Amnesty, the Tax Authorities Increase the System of tax Payment Facilities

In a meeting of finance executives last week, Argentine Finance Minister, Alfonso Prat Gay confirmed that there will be a tax amnesty and a voluntary disclosure program before the OECD Common Reporting Standard becomes fully operational.  In this context, on May 2, 2016, the Tax Authorities (“Tax Authorities”) enacted General Resolution No. 3870 regarding a […]

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20/04/2016

Adriana Estefanía Camaño is part of the team that won the Philip C. Jessup International Law Competition

Last April 2, the team that represented the University of Buenos Aires won the Philip C. Jessup International Law Moot Court Competition after winning the final round against the University of Pennsylvania. This competition, organized by nternational Law Students Association (ILSA) and sponsored by White & Case, is the most important in its field with […]

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20/04/2016

The General Resolution 6/2016 of the Argentine Business Entities’ Controlling Body (IGJ)

On March 11th 2016, the Argentine Business Entities’ Controlling Body (Inspección General de Justicia “IGJ”) issued the General Resolution 6/2016 (the “Resolution”) introducing new rules on trust agreements. It should be noted that section 1669 of the Argentine Civil and Commercial Code (“CCC”) establishes the registration of trust agreements with the applicable register. Nevertheless, the […]

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23/03/2016

Adriana Estefanía Camaño in the Philip C. Jessup International Law Moot Court Competition sponsored by White & Case

Last March 7 the team representative of the School of Law of the University of Buenos Aires won the national rounds of the Philip C. Jessup International Law Moot Court Competition, winning the finals before the University Torcuato Di Tella where the competition took place. The team will travel to Washington to participate in the international rounds of […]

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08/03/2016

Javier Canosa participated in an IBA Training Programme for Cuban Lawyers

Javier Canosa participated in an International Bar Association sponsored (IBA) training program to prepare Cuba’s lawyers for a new era of legal practice. Designed in conjunction with Cuba’s National Organization of Collective Law Offices (ONBC), the program will address the urgent need to fill the knowledge gap of Cuban lawyers unfamiliar with the workings of […]

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17/02/2016

Freedom of Contract in Argentina

Freedom of contract under the Argentine Civil and Commercial Code Section 1197 of the Argentine Civil Code – in force until August 2015 –set forth the concept of freedom of contract (self-regulation), indicating that everything agreed in contracts constitute a rule for the parties which should be treated as the law itself. Now, the Civil […]

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01/02/2016

Stamp Tax on Transactions by Electronic Means

On January 1, 2015, Law No. 5493 entered into force, introducing amendments to the Tax Code of the Autonomous City of Buenos Aires (“TC”) concerning the Stamp Tax. The amendments to the TC regarding the Stamp Tax included – until December 31, 2015 – the following: “The acts, contracts and transactions carried out by correspondence […]

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06/01/2016

Javier Canosa contributed with an article for Trust Quarterly Review

Javier Canosa contributed with an article for Trust Quarterly Review, published on December 2015, titled “Decipher the Code – How trust and estate practitioners will be affected by the changes in Argentina’s new Civil and Commercial Code.” Click here to read the full article.

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05/01/2016

Landmark case confirms the tax exemption to the internal reorganization of an economic group

On September 7th, 2015, the Federal Court in and for the City of Mar del Plata ruled in favor of the merger between business entities owned by the same economic group. Such decision was based on Law No. 20,628 about income tax (the “income tax law”), its regulatory decree, and precedents from the Argentine Supreme […]

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02/12/2015

Javier Canosa contributed with an article for STEP News Digests

Javier Canosa contributed with an article for STEP News Digests, published on December 1st, 2015, titled “Argentina’s new government to end capital controls, plans tax amnesty”. He held that “the removal of capital controls is one of two measures of particular interest to the private client and private client advisor practicing in Argentina as the […]

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02/12/2015

Javier Canosa wrote an article for the STEP Journal

Javier Canosa contributed with an article (“Beefed-up trusts”) in the last edition – November – of STEP Journal. Click here to access the article.

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23/11/2015

The franchise contract under the Civil and Commercial Code

On August 1, 2015, the Civil and Commercial Code (hereinafter “CCC”) entered into force, introducing specific legal regulation on the franchise contract from Sections 1512 to 1524. The CCC provides a legal definition of the franchise contract establishing that it is performed when one party – the franchisor – grants another party – the franchisee […]

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09/11/2015

Javier Canosa nominated to Who´s Who Legal: Real Estate 2015

Javier Canosa has been included in the legal referral publication Who’s Who Legal: Real Estate 2015. Since 1996, Who’s Who Legal has nominated the best legal practitioners in multiple areas of business law. In total, this site features over 17,000 of the world’s leading private practice lawyers from over 100 countries. Who’s Who Legal nominees […]

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20/10/2015

Amendments to the law that establishes the Promotion Regime of Power Generation from Renewable Sources

On September 23, 2015, the Argentine Congress passed a draft (the “Draft”) which amends Law No. 26,190, governing the National Promotion Regime of Power Generation from Renewable Sources (“Law of Renewable Energy”). The Law of Renewable Energy, enacted in December, 2006, declared the power generation from renewable sources to be of national interest, both for […]

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09/10/2015

Foreign Currency Obligations

On August 28, 2015, Division “F” of the National Court of Appeals in Civil Matters (the “Court”) hold that, pursuant to Section 765 of the Civil and Commercial Code (“CCC”), foreign currency obligations in Argentina do not involve public order rules. As set forth in Section 766 of the CCC, the parties may agree to […]

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19/08/2015

Tabula Rasa: A new Civil and Commercial Code in Argentina. Changes Affecting Trust and Estate Practitioners

After the massive economic and political crisis in Argentina in 2001; a period with demonstrations- clashes between demonstrators, the police causing several demonstrators death-, civil and social unrest, where Argentina had 5 presidents in a week; there was a president elected by the senate in a context of extreme economic and political emergency.  In 2003 […]

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18/08/2015

Matrimonial Property Regime in the New Argentine Civil and Commercial Code

The main amendment that the new Civil and Commercial Code (the “CCC”) introduce to the matrimonial property regime is that, based on the principle of free will, the future spouses have now the possibility of opting, by entering into marriage conventions (the “Conventions”), between (i) a shared property regime, or (ii) a separate property regime. […]

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12/08/2015

The New Civil Code and the Amendments to the Corporate Law Regime in Argentina

As mentioned in previous articles, on October 2014 the Argentine Congress has enacted a new Civil and Commercial Code (the “CCC”) that came in effect on August 1, 2015. We have prepared a series of articles to develop the main issues effecting our clients and friends by the CCC. In this piece, we will discuss […]

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04/08/2015

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – July / August – of Alternative Emerging Investor. Click here to access the article.

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28/07/2015

Regulation of property rights under the new Argentinean Civil and Commercial Code

On August 1, 2015, the new Civil and Commercial Code (hereinafter the “new Code”) will enter into force in Argentina. Chapter 4 of this new Code governs property law, maintaining most of the provisions set forth in the previous Civil Code, and also introducing new provisions. • General theory of property rights. The new Code […]

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15/04/2015

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – March / April – of Alternative Emerging Investor. Click here to access the article.

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18/03/2015

New resolution imposes the electronic billing system to contributors registered in the Value-Added Tax

On March 11, 2015, the Tax Authorities (hereinafter “AFIP”) issued General Resolution No. 3749/2015 (“GR”) which obliges contributors registered in the Value-Added Tax (from now on “VAT”) to apply the electronic invoices’ system to support operations within the framework of the internal market, having to comply since July 1st of this year. In order to […]

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19/02/2015

New law amending the conditions for payment of Supplementary Annual Salary

On January 9, 2015 was published on the Official Gazette Law No. 27.073 (the “Act”), which establishes new regulations on the payment of the second half of the employee’s Supplementary Annual Salary (“SAS”), which is ruled by Section 122 of the Labour Contract Law (” LCL”). Before the amendment, Section 122 LCL stated that the […]

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19/02/2015

RG AFIP 3674/14. Income Tax. Payment of dividends or profit sharing.

On September 12, 2014 was published on the Official Gazette the General Resolution of the Tax Authorities No. 3674/2014 (the “Resolution”), which regulates the form and term for an income tax of ten per cent (10%) on the distribution of dividends and/or profits. The Resolution provides that when beneficiaries of income are taxable in the […]

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16/01/2015

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – January / February – of Alternative Emerging Investor. Click here to access the article.

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15/01/2015

New law on professional fees in the City of Buenos Aires

On November 27, 2014 Law No. 5,134, which regulates lawyers’ and solicitors’ fees who work in the City of Buenos Aires (hereafter the “Law”), was published in the Official Gazette. The Law, which was promoted by Jorge Rizzo and Daniel Lipovetsky from the City of Buenos Aires’s Bar Association (“CBABA”), was approved in a special […]

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10/11/2014

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – October / November – of Alternative Emerging Investor. Click here to access the article.

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22/09/2014

Argentine Law Changed Payment Jurisdiction and Restructuring of the Argentine Public Debt

On September 12, 2014 Argentine Law No. 26.98 was published in the Official Gazette. This Law was referred to as “Sovereign Payment and Public Debt Restructuring Law” (the “Law”), which was proposed by the Executive Power in order to attempt to regularize certain payments to bondholders whose restructured debt was prevented by a US Justice […]

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26/08/2014

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – August / September – of Alternative Emerging Investor. Click here to access the article .

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26/08/2014

The Supreme Court of the United States rejects Argentina’s petition for a writ of certiorari in the case against NML Capital, Ltd. and others

On June 16, 2014 the Supreme Court of the United States (hereafter the “Supreme Court”) issued its decision on the two court cases ongoing between Argentina and the so-called “holdouts”, since it rejected the writ of certiorari filed by the Latin American state to review second judgment issued by the Court of Appeals for the […]

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26/08/2014

Communication “A” 5588 of the Central Bank of Argentina Implementing FATCA and OECD Global Standard

On July 1, 2014 Communication “A” 5588 (the “Communication”) issued by the Central Bank of Argentina (“BCRA”) was published in the Official Gazette. The Communication extends and regulates the actions of tax cooperation between Argentina and other countries previously set forth in Communication “A” 5581 issued by the BCRA. Through the Communication the BCRA updated […]

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25/08/2014

A new limitation on foreign ownership of rural lands was set on forty-nine Argentine municipalities

In May 2014 the National Registry of Rural Lands (hereinafter “NRRL”) published a list of forty-nine (49) municipalities across the country that exceed the maximum domain of national rural land by foreign owners. Accordingly, foreign legal entities and individuals will not be allowed to acquire rural lands in these sectors. The legislation that rules national […]

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21/03/2014

Javier Canosa contributed with comments on an article published by Thomson Reuters

Javier Canosa contributed with comments on an article published by Thomson Reuters, for the March 2014 edition of the magazine International Financial Review Latin America. Click here to access the article.

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18/02/2014

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – February / March – of Alternative Emerging Investor. Click here to access the article.

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13/02/2014

Extension of the Bill Setting forth a Voluntary Disclosure Program – Creation of New Financial Instruments. The term to apply to the program expires on March 31, 2014

On June 3, 2013 the law that created a New Voluntary Disclosure Program (“New Voluntary Disclosure Program”) and the creation of three new financial instruments designed to funnel the assets disclosed under the New Voluntary Disclosure Program was enacted. We believe the initiative is positive. 1. Voluntary Disclosure Program. We will develop firstly the New […]

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10/01/2014

New Registry of Related Parties

On December 19 2013, the Tax Authorities issued the General Resolution No. 3572 (the “Resolution”). The Resolution sets forth the creation of a Registry of Related Parties (the “Registry”), in which the following information must be provided to the tax authorities: taxpayers and/or those responsible resident in Argentina whose earnings are of the third rate, […]

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03/12/2013

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – December/ January – of Alternative Latin Investor Magazine, called Recent Trends in Bilateral Investment Treaties. Click here to access the article.

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28/11/2013

Software Law Regulation

On September 16 2013, the Decree No. 1315/2013 (the “Decree”) was published in the Official Gazette. The Decree regulates Law No. 25,922 of Promotion of Software, nowadays in force with the amendments introduced by Law No. 26,692 (the “Software Law”). One of the first provisions set by the Decree is the creation of a Regime […]

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21/11/2013

Rules 2013 of the National Securities Commission applicable to trusts

On September 9 2013, the General Resolution No. 622 (the “Resolution”) of the National Securities Commission (Comisión Nacional de Valores) (“CNV”) was published in the Official Gazette. The Resolution approves, under the Capital Market Law No. 26.831 and the issuance of the Implementing Decree No. 1023/2013, the new CNV rules (“NT 2013”). Its rules applicable […]

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06/11/2013

Amendments to the Income Tax Law have come into force – Transfer of Shares and Dividends

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04/11/2013

Regulation of the Securities Law

On August 1, 2013 the Decree No. 1023/2013 (hereinafter the “Decree”), which regulates the provisions of the Capital Market Law, was published in the Official Gazette. Although the Decree does not regulate all sections of the Law, it emphasizes the power of the National Securities Commission (Comisión Nacional de Valores – “NSC”) as enforcement authority, […]

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16/10/2013

New rules to protect financial services users

On August 9, 2013 was published in the Official Gazette the Communication “A” 5460 (the “Communication”) issued by the Central Bank of Argentina. The Communication amends rules regarding the protection of financial services users. The Communication applies to financial entities, agencies and money exchange offices, trustees in trusts which are creditors of financial credits by […]

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25/09/2013

Amendments to the Simplified Scheme of Small Taxpayers

The Federal Tax Authority (“AFIP”) through General Resolution 3529/2013 (the “Resolution”), amended the scales of the Simplified Scheme of Small Taxpayers (“Single Tax”). As it is known, the Single Tax includes 11 categories ranging from “B” to “L”. Now, since the implementation of the Resolution, an increase in the values of all amounts invoiced for […]

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07/08/2013

Javier Canosa wrote an article for Alternative Emerging Investor Magazine

Javier Canosa contributed with an article in the last edition – July / August – of Alternative Latin Investor Magazine, called Another Voluntary Disclosure Program in Argentina. Click here to access the article.

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31/07/2013

Amendments to the Tax Code 2013

On December 27, 2012 was published in the Official Gazette of the Government of the City of Buenos Aires Law4469 (the “Law”) which amends the current Tax Code (the “Code”). One of the first amendments introduced by the Law, in order to notify taxpayers of relevant resolutions and for them to comply with their obligations, […]

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31/07/2013

Voluntary disclosure of foreign currency

On June 3, 2013 was published in the Official Gazette Law 26.860 (the “Law”) which provides the voluntary disclosure of foreign currency regime (the “Regime”), whether it’s in the country or abroad. The Law sets up the creation of three financial instruments that will be used to disclosure the foreign currency. For the purpose of […]

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16/07/2013

Creation of Another Judicial Instance in Argentina – Cassation Chamber

A new bill for the creation of a new judicial instance was recently approved in Argentina. On May 9, 2013, Law 26,853 was enacted which creates a new Cassation Chamber. Consequently, there are now –at the Federal level- four judicial instances in Argentina: (i) the courts of first instance, (ii) the chamber of appeals, (ii) […]

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26/06/2013

Javier Salerno wrote an article for the Argentine newspaper “El Derecho”

Javier Salerno wrote an article for the Argentine doctrine and jurisprudence newspaper “El Derecho” published on june 18, 2013, titled “Carrier’s liability in case of an offense”. Click here to access the article (only available in Spanish).

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03/06/2013

Enactment of the Bill Setting forth a Voluntary Disclosure Program – Creation of New Financial Instruments. The term to apply to the program expires on September 3, 2013.

On June 3, 2013 the law that created a New Voluntary Disclosure Program (“New Voluntary Disclosure Program”) and the creation of three new financial instruments designed to funnel the assets disclosed under the New Voluntary Disclosure Program was enacted. We believe the initiative is positive. 1. Voluntary Disclosure Program. We will develop firstly the New […]

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14/05/2013

The National Congress passed a new Law regulating the functioning of the Judiciary Council

The National Congress has passed a new law regulating the functioning of the Judicial Council. This law has not yet been published in the Official Gazette. Here we explain the main changes in legislation: • Number of members of the Judicial Council: currently comprises 13 members: six legislators, elected by Congress, a representative of the […]

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14/05/2013

New Law restricts precautionary measures against the National State

On April 30, 2013 a new law was published in the Official Gazette 26,854 (the “Law”) governing the implementation of precautionary measures in those cases where the National State or any of its decentralized entities (in general, the “Federal Government”) is a party. The Law establishes certain procedural requirements that the applicant must indicate clearly […]

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10/05/2013

URGENT – New Proposed Bill Setting forth a Voluntary Disclosure Program – Creation of New Financial Instruments

On May 7 2013 the Executive Branch sent to the National Congress a bill that provides for a New Voluntary Disclosure Program (“New Voluntary Disclosure Program”) and the creation of three new financial instruments designed to funnel the assets disclosed under the New Voluntary Disclosure Program. We believe the initiative is positive. 1. Voluntary Disclosure […]

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30/04/2013

Revocation of the procedure for non-automatic licenses for imports

On January 25, 2013, the Resolution No. 11/2013 issued by the Ministry of Economy and Public Finance (the “Resolution”) was published in the Official Gazette. The Resolution revokes the procedures for non-automatic import licences. In relation with the repealed rules, the World Trade Organization (“WTO”), in the Procedures for Import Licenses Agreement (the “Agreement”), provides […]

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19/04/2013

New Habitat Law in the Province of Buenos Aires

In order to promote the right to housing and a dignified habitat, the Senate of the Province of Buenos Aires enacted the Law for Promotion of Popular Habitat (the “Law”), which amends the old Decree-Law No. 8912/77. The author of the bill is Alberto Mariano España of Frente Para la Victoria party, along with co-authors […]

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18/04/2013

New program for regularization of tax debts, customs and social security resources

On March 2013 the Argentine Tax Authorities have launched a new voluntary disclosure program for regularization of tax debts, customs and social security resources (the “New Voluntary Disclosure Program”) aiming at producing “counter-cyclic measures for the structural development of companies, job growth, maintain the sources of jobs and strengthen the acquisition power of Argentine citizens, and […]

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17/04/2013

Suitability of Stockbrokers

On September 27, 2012 the General Resolution No. 610/2012 (the “Resolution”) of the National Securities and Exchange Commission (“NSEC”) was published in the Official Gazette. The Resolution establishes the obligation of taking an assessment test for those who sell products and advice investors on the capital markets. As part of the measures designed to protect […]

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18/03/2013

Agreement between Argentina and Spain to avoid double taxation and prevent tax evasion with respect to taxes on income and assets

On March 11, 2013 Ricardo Etchegaray, head of the Tax Authorities (AFIP) and Roman Oyarzun, Ambassador of the Kingdom of Spain, signed an agreement that aims to avoid double taxation and prevent fiscal evasion with respect to taxes on income and assets (hereafter, the “Agreement”). This Agreement replaces the one signed by both countries on […]

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26/02/2013

Javier Canosa wrote an article for Alternative Latin Investor Magazine

Javier Canosa contributed with an article in the last special edition – February / March – of Alternative Latin Investor, called New Law Regulating Capital  Markets in Argentina. Click here to access the article.

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14/02/2013

New Law regulating Capital Markets in Argentina

On November 29, 2012 the Argentine Congress passed a new law regulating all the relevant aspects of capital markets and public offering, thus terminating former law 17,811 that regulated the same issue. The executive branch promulgated the law on December 28, 2012. We will briefly analyze the main aspects of such new law on capital […]

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24/01/2013

Javier Salerno wrote an article for the Argentine newspaper “La Ley”

Javier Salerno and Juan Gesuiti wrote an article for the Argentine newspaper “La Ley” published on january 24, 2013, titled “Normas Cambiarias” (Exchange Regulations). Click here to access the article (only available in Spanish).

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08/01/2013

Javier Canosa wrote an article for Alternative Latin Investor Magazine

Javier Canosa contributed with an article in the last edition – December / January – of Alternative Latin Investor. Click here to access the article. You can access the preview version of this edition of the magazine here. First part of the article was published in the October / November edition of Alternative Latin Investor. Click here to […]

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12/12/2012

Javier Salerno wrote an article for the Argentine newspaper “La Ley”

Javier Salerno and Marcelo Urbano Salerno wrote an article for the Argentine newspaper “La Ley” published on december 11, 2012, titled “Heritage theory and direct action in the Draft Code”. Click here to access the article (only available in Spanish).

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11/12/2012

Javier Canosa at the Private Client Forum Americas Conference 2013 in Arizona

Javier Canosa will be speaking at the Private Client Americas Forum 2013 to be held from January 30 to February 1, 2013, in Arizona. This unique forum will unite the most senior private client lawyers from the United States, Canada, Latin America and the Caribbean jurisdictions to address key issues facing private client practitioners. Click […]

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11/11/2012

Javier Canosa wrote an article for Alternative Latin Investor Magazine

Javier Canosa contributed with an article in the last edition – October / November – of Alternative Latin Investor. Read (pages 20 to 22 inclusive).

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10/11/2012

Javier Salerno wrote an article for the October edition, 2012 of the Argentine Newspaper “El Derecho”

Javier Salerno wrote an article for the October edition, 2012 of the Argentine Newspaper “El Derecho” (only available in Spanish). “La abreviación convencional del plazo de prescripción. El plenario Alaniz”

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11/10/2012

Javier Canosa was part of the expert panel at the STEP Latin American Conference

Javier Canosa participated in the STEP Latin American Conference, Society of Trust and Estate Practitioners, held on September 27 and 28, 2012 at Hotel Riu Plaza Panama City. The Conference had among its main goals to establish a strong network of local and foreign professionals, in order to effectively achieve the objectives of their respective […]

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11/10/2012

Regulation of the Regime of Hydrocarbon Sovereignty of Argentina

On July 27, 2012, the Decree Nº 1277/2012 (the “Decree”) was published in the Official Gazette. The Decree regulates the Regime of Hydrocarbon Sovereignty, Law No. 26.741 (the “Law”). The Law declares that fifty one percent (51%) of the shares of YPF SA and Repsol YPF SA are of public interest and subject to expropriation. […]

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11/10/2012

Termination of the Treaty with Switzerland to avoid double taxation

On January 31, 2012 an Argentinean Note (the “Note”) which terminated the application of a Treaty between Argentina and Switzerland (the “Treaty”) was published in the Official Gazette. The Treaty was aimed to avoid double taxation in taxes on income and wealth. The Treaty was signed on April 23, 1997 and had been in force […]

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11/09/2012

Tax Authorities remove certain benefits for some importers

On August 24, 2012 the General Resolution No. 3373 was published in the Official Gazette (the “Resolution”). The Resolution sets forth the derogation of the General Resolution No. 2238 which provided a ‘Validation Certificate of Importers’ Data’ (VCID), and consequently amends the aliquots of the General Resolution No. 2281 referred to the perceptions of the […]

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11/09/2012

Formation of Residents’ External Assets and Payment of Services

The Central Bank of Argentina (“BCRA”), through Communication “A” 5318 and Communication “A” 5330 (the “Communications”) introduced new amendments to the legal framework which regulates the access of Argentine residents to the Argentine Foreign Exchange Market (“AFEM”) for the acquisition of foreign assets and payment of services. The Communications amended point 3 of the Annex […]

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28/08/2012

Increase of the minimum capital required by the Argentine Corporate Law

On August 7, 2012 the Decree No. 1331/2012 (the “Decree”) was published in the Official Gazette. The Decree updates the capital required by Section 186 of the Argentine Corporate Law No. 19,550. The minimum capital is set at one hundred thousand pesos (AR$100,000). The preamble of the Decree states that the minimum capital for the […]

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28/07/2012

General Disposition DPPJ 18/2012 – Controls on foreign companies

On May 4, 2012 the General Disposition No. 18/2012 (the “Disposition”) of the Provincial Department of Corporations (“DPPJ”) was published in the Official Gazette. The Disposition reorders the DPPJ standards and modifies certain aspects which reflect some of the principles currently applied by the Public Registry of Commerce in relation with foreign companies. These principles […]

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28/07/2012

Agreement between Argentina and Uruguay to promote the exchange of tax information

On April 23, 2012, Argentina and Uruguay (the “Participating States”) signed an agreement for the exchange of tax information (the “Agreement”). The Agreement provides the competent authorities shall assist each other through the exchange of relevant information with respect to taxes and tax criminal matters covered by the Agreement. The Competent Authority of the respective […]

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28/07/2012

Argentina “Denounces” (terminates) Double Taxation Treaty with Spain

On July 16, 2012 the decision of the Argentine Republic to terminate the treaty executed with the Republic of Chile for the purpose of avoiding double taxation was published in the official Gazette. The treaty was executed between Argentina and Spain in 1992 with the purpose of avoiding double taxation and preventing tax evasion of […]

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28/07/2012

Argentina Terminates Double Taxation Treaty with Chile

Argentina decided to terminate the treaty executed with the Republic of Chile for avoiding double taxation with respect to taxes on income, profit, and capital and assets as of December 31, 2012. Such treaty executed between Argentina and Chile on 1976 and ratified in 1986, provides for the general principle in connection with income tax […]

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28/06/2012

General Resolution of the Tax Authorities No. 3276- Early Affidavit of Services

On February 22, 2012 General Resolution No. 3276 issued by the Tax Authorities (the “Resolution”) was published in the Official Gazette. By means of the Resolution the following information is added to the “Electronic Unique Desk for Foreign Trade”: information of provisions of services by foreign individuals whose providers are Argentine residents, and provisions of […]

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28/06/2012

Reporting Information Regime of foreign financial and non financial trusts

On April 19, 2012 Resolution No. 3312 (the “Resolution”) of the Argentine Tax Authorities (“AFIP”) was published in the Official Gazette. Such Resolution incorporates –to the previous information regime for local trusts- an information regime to be fulfilled for trusts organized outside of Argentina. The Resolution implements a regime of registration of operations that must […]

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28/06/2012

AFIP RG 3333/2012 – Additional Controls for the Purchase of Foreign Currency

On May 28, 2012 Resolution No. 3333/12 of the Tax Authorities (the “Resolution”) was published in the Official Gazette. Such Resolution implements software tools in order to anticipate the control over the operations of Argentine taxpayers, in exercise of the powers of oversight of the collection agency –the tax authorities- prior to conducting certain foreign […]

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28/06/2012

General Resolution of the Tax Authorities No. 3293/12 – Registration of Corporate Acts

On March 22, 2012 General Resolution No. 3293/12 of the Tax Authorities (the “Resolution”) which replaces the Resolution No. 2763 was published in the Official Gazette.  Such Resolution sets forth a mandatory reporting system for holders of shares, directors, managers, administrators, trustees, members of supervisory boards and representatives of Argentine companies. The Resolution sets forth […]

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28/05/2012

Administrative Freeze Assets – New Resolution FIU

On February 22, 2012 was published in the Official Gazette the Resolution issued by the Financial Intelligence Unit (“FIU”) Nº 28/2012 (“Resolution”) which partially amends Resolution Nº 125/2009 in relation to the mode and timing of compliance with the obligations to report events and transactions suspected of financing terrorism. The Resolution also regulates the administrative […]

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28/05/2012

New Central Bank Charter of Argentina

On March 22, 2012, was approved the Law 26,739 (the “Law”) amending the charter of the Central Bank of Argentina (“BCRA”). The Amending will return the BCRA the ability to make the financial system to serve the development and growth of the real economy, and to make the credit available for productive activities and investments […]

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28/04/2012

Withdrawal of foreign currency debit cards. New requirements for current transfers

On March 9, 2012 the Argentina Central Bank (“ACB”) trough Communication Nº “A” 5294 resolved that the withdrawal of foreign currency using local debit cards from ATMs located abroad must be made with local debit customer accounts denominated in foreign currency. In addition, the Central Bank, on the same date, issued Communication Nº “A” 5295 […]

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28/04/2012

Amendments to the National Securities Commission’s Rules on Money Laundering Prevention and Terrorism Financing

On February 8th, 2012 General Resolution No. 602/2012 of the National Securities Commission (“NSC”) was published in the Official Gazette. This Resolution amends Chapter XXII of the Rules of the NSC (“NSC Rules”) in connection with the prevention of money laundering and the financing of terrorism. Chapter XXII of the NSC Rules, which after the […]

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28/04/2012

New Central Bank’s requirements for the acquisition of foreign exchange to pay imports

On January, 31st Communication “A” 5274 issued by the Central Bank of Argentina was published in the Official Gazette. The regulation sets forth the requirements to allow the access to the local exchange market in order to perform payments abroad for Argentinean imports of goods; it also amends several points of the Communication “A” 5134 […]

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28/04/2012

New regulations related to newsprint

By means of Law No 26,736 issued on December 22, 2011 and published in the Official Gazette in December 28, 2011, the Congress of Argentina declares of public interest the manufacturing, marketing and distribution of cellulose pulp and paper for newspapers (“newsprint”). The new regulation creates the Bicameral Manufacturing, Marketing and Distribution of Newsprint Monitoring […]

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28/04/2012

Regulation of the duty of cooperation of the Tax Authorities with the Financial Information Unit

On November 23, 2011 the Financial Information Unit (hereafter, the “FIU”) issued the Resolution No. 220/2011 (the “Resolution”) that regulates the duty of cooperation which the Argentine Tax Authorities must comply with (the “Tax Authorities”), imposed by the Law No. 25.246 and its amendment acts (the “Law”). The main purpose is to prevent crimes of […]

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28/04/2012

New Law limiting foreign ownership of rural land

On December 22, 2011 the Argentine Congress enacted Law No. 26.737 denominated “Protection Regime of the National Domain of Property, Possession or Holding of Rural Land” (hereinafter, the “Law”) aimed at limiting foreign ownership on rural land in Argentina. The first noteworthy obligation is that the Law requires foreign owners of land, whether they are […]

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28/03/2012

Regulation of the Rural Land Law

Decree No 274/2012 (the “Decree”) implemented law No 26,737 that sets forth the Protection Regime of the National Domain over the Property, Possession or Control of Rural Land (the “Law”); which restricted the sale of land to non-argentines to fifteen percent (15%) of the national territory of arable land. The Decree was published in the […]

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28/03/2012

New Law on electric and electronic waste in the Province of Buenos Aires

On November 2, 2011 the Senate of the Province of Buenos Aires passed the Law No. 14,321 (hereinafter, the “Law”) which established the set of norms, obligations and responsibilities for the sustainable management of electric and electronic waste (EEW) throughout the territory of the Province of Buenos Aires. The purpose of the Law is to […]

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28/03/2012

New resolutions of the Public Register of Commerce about money laundering and prequalified procedures

On January, 31 the first three resolutions of 2012 issued by the Public Register of Commerce (PRC) were published in the Official Gazette. Both Resolution No 01/12 and Resolution No 02/12 are referred to money laundering, while Resolution No 03/12 is related to deadlines for carrying out the prequalified proceedings. The first of them (Resolution […]

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28/03/2012

Amendment to the Tax Criminal Law

On December 28, 2011 Law No. 26,735 (hereinafter, the “Law”) was published in the Official Gazette which amends the Criminal Tax Law No. 26,735. In the first place, the Law amends the minimum amounts that determine the commission of a tax crime. The amounts are multiplied fourfold (Sections 1, 2, 3, 6, and 8 of […]

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28/03/2012

New resolutions of the Public Register of Commerce about money laundering and prequalified procedures

On January, 31 the first three resolutions of 2012 issued by the Public Register of Commerce (PRC) were published in the Official Gazette. Both Resolution No 01/12 and Resolution No 02/12 are referred to money laundering, while Resolution No 03/12 is related to deadlines for carrying out the prequalified proceedings. The first of them (Resolution […]

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28/01/2012

Mutual investment funds

On December 6, 2011 the General Resolution No. 596/2011 of the Argentine Securities Exchange Comission (“SEC”) was published in the Official Gazette. It creates a special regime for the formation of close-end investment funds (“Technology Funds”) whose focus shall be to finance the mass production and distribution of products and services with a high level […]

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28/01/2012

New amendments to the Criminal Code

On December 28, 2011 was published in the Official Gazette Law No. 26,734, (hereinafter, the “Law”) commonly referred to as “the anti-terrorism law” which repeals Sections 213 ter and 213 quarter, incorporates Sections 41d and 306, and amends Section 33 of the National Criminal Code. Section 41d provides that when any of the offenses under […]

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28/01/2012

Extension of the Public Emergency

On December 21, 2011, the Federal Congress issued Law No 26,739 which states that the Laws and Decrees which declared an emergency in the social, economic, financial, administrative, exchange matters, public contracts, sanitary, occupational and alimentary fields will remain in force until December 31, 2013. The Emergency was initially declared in 2002 and since 2003 […]

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28/01/2012

Rural Worker´s Law

he New Law establishes a detailed legal framework for rural workers. On October 28, 2011 was published in the Official Gazette Law No 26.727. It establishes the new agricultural labor scheme (“ALR”) and repeals Law No 22.248, its amendments and the regulation decree. This new scheme eliminates the National Register of Rural Workers and Employers […]

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28/01/2012

New amendments to the Criminal Code about financial and stock markets activities and unauthorized activities

On December 28, 2011 was published in the Official Gazette the Law No. 26,733, (hereinafter, the “Law”) which amends the Criminal Code replacing Section 77 and adding new Sections. The Law incorporates the definition of privileged information, which is defined as any information not available to the public, whose disclosure could have significant influence on […]

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28/01/2012

Communication procedure of Change of Authorities before the Public Commercial Register

On November 23 2011 the General Resolution Nº 3/2011 (hereafter, the “Resolution”) issued by the Public Commercial Register (hereafter, the “PCR”) was published in the Official Gazette. The Resolution amends the procedure for communicating the PCR the change of authorities by civil entities. Following the updating as a result of the Affidavit 1/2010, the PCR […]

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