By virtue of Act No. 27,274, published in the Official Gazette on September 30th, 2016, the Argentine Congress approved the Double Taxation Treaty (“DTT”) between Argentina and Chile.
The new DTT is based on Model Convention of the Organization for Economic Cooperation and Development (“OECD”), in opposition to the prior DTT based on source taxation which was denounced in 2012, mainly, for preventing Argentine authorities from collecting Personal Assets Tax from investors using conduit companies to invest in Argentina and Argentine individual taxpayers which invested in Chilean bonds.
The DTT also foresees a new clause for the exchange of information and mutual assistance in accordance with current international standards.
The DTT provisions will take effect for amounts paid or fiscal year beginning on or after January 1, 2017.
To see the DDT (in Spanish), please click here.
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