Argentina

Argentina

Imposes sales tax on automobiles and other vehicles

23 Dec 2019

The new tax applies to land vehicles for private use and other leisure-oriented motor vehicles (motorcycles, watercraft, aircraft) whose price exceeds 1,3 million ARG pesos before tax (approx. 21,000 $USD). The measure applies to both imported and locally-manufactured equipment. The tax rate varies between 20% and 35%, depending on the value of goods.

The measure is part of a new "Law on Social Solidarity and Productive Recovery in the context of the Public Emergency" N°27,541, which came into force on 23 December 2019. Its Article 50, which enacts the new tax, partially modifies the Internal Revenue Law.

Nature of measure:
  • Treatment and operation
Type:
  • Treatment and operation (Other)
Industry:
  • Manufacturing (Manufacture of transport equipment)
Inward FDI:
No
Outward FDI:
No
Sources: