Congress has passed into law a bill that eliminates double taxation for companies that export services to Brazil.
LThe rule allows Argentina and Brazil to deduct from income tax the same amount that was withheld in the other country and establishes a withholding limit on that tax of between 10 and 15 percent., the Ministry of Production explained in a statement.
"The approval of this law is a fundamental step to support our SMEs (small and medium-sized enterprises) and entrepreneurs to continue growing, be competitive and help them export," said the head of the portfolio, Francisco Cabrera.
Brazil imports about $13.000 billion worth of services per year, making it an attractive destination for Argentine companies.
The knowledge-based companies -which include accounting, architecture, engineering and computer studies, among others- represent 10 percent of the total exports of goods and services of the southern country. In 2017, its exports reached a record of 6.800 billion dollars and have accumulated a growth of 30 percent so far this year.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
