Argentina

Argentina is facing a serious financial and economic crisis. Since January 2002, there has been a massive devaluation of the peso of roughly 250% as well as hyper-inflation of around 120% at the wholesale prices level. Given this situation, economic variables have become deeply distorted and both ta...

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Bibliographic Details
Published inInternational tax review no. 4; p. 23
Main Authors Albarellos, Daniel R, Dinice, Horacio D
Format Magazine Article
LanguageEnglish
Published London Euromoney Institutional Investor PLC 01.01.2002
Subjects
Corporate tax planning
Economic conditions
Evolution
Foreign exchange rates
Hyperinflation
Income taxes
Losses
Tax planning
Tax revenues
Taxation
Argentina
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Summary:Argentina is facing a serious financial and economic crisis. Since January 2002, there has been a massive devaluation of the peso of roughly 250% as well as hyper-inflation of around 120% at the wholesale prices level. Given this situation, economic variables have become deeply distorted and both taxes and the collection of tax revenues have been affected. This distortion with regard to tax matters is, in turn, the trigger for a series of effects, which, quite often, are not readily foreseeable and, as a result, take taxpayers by surprise, especially those foreign taxpayers in developed countries that are not used to such sudden and unexpected shock waves in the economy. The aim of this article is to put readers on the alert, especially foreign investors in Argentina, about those issues that are causing domestic officials and tax advisers of foreign companies to have sleepless nights.
ISSN:0958-7594