Argentina is eliminating income taxes for most people except the top 1 percent wow....... huge news !!! Their peso was getting devalued almost every day... Let's see what happens it went down a whole point so far 349 to 348...when comparing it to the USD
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I can't believe no1 reported the news about argentina
- Thread starter Mister Sir
- Start date
Under the draft bill to make the change permanent, the PIT system would be replaced by a “schedular tax” system under which taxpayers would receive an income tax exemption on annual salaries (and pensions) of up to 180 times the SMVM, roughly equal to around USD 60,000 at the time of the announcement.
The amount of the exemption would be indexed twice a year, in January and July. No other deductions would be available. Schedular tax rates would be progressive, ranging from 27% to 35% on annual income exceeding 180 times the SMVM.
Somebody with assets should note that there also wealth taxes in Argentina.
The amount of the exemption would be indexed twice a year, in January and July. No other deductions would be available. Schedular tax rates would be progressive, ranging from 27% to 35% on annual income exceeding 180 times the SMVM.
Somebody with assets should note that there also wealth taxes in Argentina.
It's also worthy to note for those who don't know..... It's practically impossible to renounce your Argentina citizenship...
No one in Argentina wants to live there... why will foreigners go to a left wing hell like Argentina? Fun country to visit, but hell no for living
It is easily possible, you just do it through the court rather than the standard procedure.
Wellington I get it.....Argentina went bankrupt soooooo many times....they even have 100 year bonds as if any1 was going to buy them lol ...However I do like Argentina steaks... ... As far as the currency goes I give up on it I'm not touching it...no wonder why people use the "blue market currency there"
Borg I hear conflicting reports that opinion
There are still some advantages... With a residency card from a neighboring country, one can live in Argentina unnoticed for a lifetime.
Yes, its pretty relaxed jurisdiction in that sense.
I know many people who enjoy life in Argentina very much, but not so much to become tax residents there, and give up their 0% tax structures
Now to the definition of tax residency:
Residents include the following:
*Argentine nationals living in Argentina.
*Argentine nationals working abroad during the first 13 months of living abroad (tax residence status is lost from the first day of the 14th month), or when they have obtained a permanent residence for migration purposes in a foreign country; whichever occurs first.
*Foreign nationals assigned to work in Argentina for more than five years.
*Foreign individuals residing in Argentina (for reasons other than work) for more than 12 months, as of the 13th month of presence in Argentina.
Non-residents include:
*Foreign nationals assigned to work in Argentina for less than five years
Now you can use some EOR service to pay yourself 60k (tax free?) USD per year, and not become a tax resident since you're assigned to work in Argentina for less than 5 years.
All that while keeping your 0% tax structure for international business, and living quite a decent life (living expenses in Argentina are about 5x cheaper than in new york)
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You do have a point. Locals are suffering big time because of the high inflation which keeps draining their wealth and energy. Many of them can just barely survive from month to month.
As a foreigner with income or assets in EUR or USD, you can live very well in Argentina because the exchange rate moves in line with inflation, and expenses such as rent and food are much lower than in Europe or North America.
You know where you could live even Kingner based on that? In Caracas Venezuela or in Medellin Colombia if you want a little securer place.
Argentina it's a nightmare in terms of bureaucracy and its currency movement is a pain, if what you want is "spending less", be aware that if you want to bring foreign money legally forget about using the black market rate (1 USD = 1000 ARS) and instead use the official rate (1 USD = 347 ARS) so just there you will receive 50% less of what you should (and if you want to import stuff from outside, get ready for the tariffs) so the "cheap" transaction is going to be only true if you move your foreign currencies into the country in CASH or you use a black market intermediary.
Plus in terms of taxes, it's hilarious too because for example they implement wealth taxes (sorry, they call it "Solidarity Contribution") of up to 5% of your foreign assets when they want.
I like Argentina (I've been there many times), but I would never live there unless their politics change a lot. The good news is that at least Milei (one of the presidency candidates) is saying he's gonna change that... If in 4 years I see enough changes I might consider moving there
I'm about to get a second passport from Argentina, and I'm looking to relocate my family to another cheaper, more free country.
My question is, is it safe down in Argentina? And have you visited Uruguay and if so, would you prefer Uruguay over Argentina?
Thanks for sharing that information.
Don't they have citizenship-based taxation? Also, I think it is very difficult or impossible to get rid of the Argentinian citizenship after acquiring it.
Buenos Aires has some very nice parts, you should check it out.
AFAIK Argentina doesn't have citizenship-based taxation like the U.S. has, but I'll check it out once again just in case.
I will have to ask if I can get rid of the Argentinian passport once I get it, just in case one day they do start taxing everyone with an Argentinian passport.
I've never been there, I know a lot of Argentinians that have moved to Spain and they all talk about how difficult it's to live there with the crazy inflation.
My main worry is being safe down there.
My mom used to say "Buenos Aires is the Paris of Latin American" but that was a long time ago, I've no idea what it's like today.
It could be good if you make your living in USD or Euros. It looks like you have a lot more research to do.
Yeap, I do have Euros and USD, so I'm in search for more fertile lands.
I'm looking all over the world but I don't like Dubai, and I want to be far from Europe, and southeast Asia is too much of a culture shock for my family, so Latin American it is I think.... Time will tell.
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