Argentina
Finance in Argentina
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Financing A Business In Argentina
Foreign and local companies are subject to the same set of incentives and law. Argentina has created several tools in order to promote investment. General incentives include tax exemption on imported capital goods. A resolution reduced the import duty on certain telecommunications products, information technology industries, and capital goods to 0 percent. VAT reduction (10,5%) applies on locally purchased and imported finished goods and telecommunication goods including their parts and component.
Special import regime for large industrial investments, leasing regime, in-house customs, simplified import system and temporary admission regime are also available. Recently the Government approved a new law that imposes the refund on VAT on goods destined to investment in Argentina.
Further incentives apply to particular sectors, such as mining, forestry and tourism. Fore more information and contacts visit the website of the Invertir Foudacion (www.invertir.com), which provide a complete guide to business in Argentina, with plenty of material on laws and new Government projects and funding.
Mining
A mining regime established a 30-year guarantee of fiscal stability for new projects and extension of exiting ones, deductions of exploration costs and deductibility of new assets incorporated in the process.
Forestry
Advantageous fiscal benefits are set for the forestry sector to achieve long-term goals.
Tourism
The construction and equipment of new hotels, the reforms and improve upon existing ones and for recreation and general services related with tourism are also promoted through total or partial exemption on turnover tax and real state tax for a period from 5 to 15 years. Various provinces in Argentina have also regional investment promotion regimes.
Environment
Some projects with international funding include the clean-up of Matanza-Riachuelo River and the National Urban Solid Waste Management. Vast funding from World Bank and Argentine Government are available.