What You Must Know About The Latest Argentine Ifrs Update

By Author: martin well
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Expanding your business into the Argentina market has tremendous potential, and the only way to know if your business is ready is by doing a meticulous market research. Companies doing business in Argentina, which has recently adopted the International Financial Reporting Standard (IFRS), must now comply with the new requirements for information reporting and tax base calculation.

The recently-released general resolution 3363 states that taxpayers subject to the IFRS and technical regulations (FACPCE - Federación Argentina de Consejos Profesionales de Ciencias Económicas) 26 and 29 must present the new information to the tax authorities (Administración Federal de Ingresos Públicos). The information required is for tax years ending on or after June 30, 2012.

Taxpayers must provide the new documents in the month that follows the due date for filing the tax returns. However, certain exceptions are available for small and medium enterprises (SMEs). The new regulations also contain provisions for how to calculate the tax base for income, minimum presumed income, and personal property tax.

Expanding internationally ...
... with expert assistance
When doing business in Argentina problems regarding local bureaucracy and the proverbial slowness of the business procedures can also arise. Making hurried and uninformed decisions can spell disaster for your business. It is, however, not easy to gain a complete understanding of the laws of another country. To ensure a smooth transition, you need the guidance of a professional who can help you follow the legal norms and fulfill all compliance regulations in your company’s international expansion.

A reliable partner, with plenty of experience to guide you ahead is the best option when doing business overseas. An expert business consultant provides the required assistance on areas like HR, tax equalization expat, eu vat rules, international accounting, to make your international business project a successful one.

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