Press

News

“Boldness in Business is the first, second, and third thing”

Thomas Fuller

 

Outstanding

 News

This section includes publications related to Jebsen & Co. and/or its team members, as well as newspaper articles published abroad which make reference to the Argentine reality.

Regime to Promote Knowledge Economy - June 2019

Summary

The National Congress approved the so called “Regime to Promote Knowledge Economy” aimed at promoting economic activities using knowledge as well as the digitalization of information and technologies for the purpose of obtaining goods, rendering services and/or to improve processes. The mentioned Regime will become into force from January 1, 2020 until December 31, 2029.

Promoted Activities

The main objective is to promote the creation, development, production and implementation or adaptation of products and services, both in their basic and applied aspects, including those which are produced to be incorporated into processors and/or other technological devices.

In particular, the promoted areas or items are:

  1. Services, development, implementation and the set-up of software and digital information services;
  2. Audiovisual and digital production and post-production;
  3. Biotechnology, bio-economy, biology, biochemistry, microbiology, bio-information technology, molecular biology, neuro-technology and genetic engineering, geo-engineering as well as their tests and analysis;
  4. Geological and drilling services as well as services related to electronics and communications;
  5. Export of professional services;
  6. Nanotechnology and nanoscience;
  7. Aerospace and satellite industry;
  8. Engineering for nuclear industry;
  9. Manufacturing, set-up, maintenance of goods and services oriented to solutions, digital processes and production automatization, such as artificial intelligence, robotics, internet, sensors, etc.

The activities related to engineering, exact and natural sciences, agricultural and livestock sciences as well as medical sciences focused on research tasks and experimental development, are also included among the promoted areas.

Beneficiary Subjects

This promotion regime is intended for legal persons incorporated in Argentina or authorized to act in this country, developing within the national territory, either on their own or as their main activity, some of the activities mentioned hereinbefore.   

Besides their due registration at the National Registry of Beneficiaries of the Regime for the Promotion of Knowledge Economy, the beneficiary subjects must comply with at least two of the following requirements: 

  1. Provide evidence of continuous improvements to the quality of their services, products and/or processes, or by means of a well-known quality standard;
  2. Provide evidence, indistinctly and/or jointly, of expenses incurred on research and development for a minimum of 3% of its total turnover, or on training for the employees involved on the activities referred above for a minimum of 8% of the total salary payroll; or
  3. Provide evidence on the export of goods and/or services arising from the development of any of the promoted activities, for at least 13% of the total turnover of said activities. If the exports are related to professional services, it will be required, at least, to perform an export exclusively deriving from such activity for  70% of the total turnover (unless in case of a micro or small sized company, in which case it will have to represent 45% of the total turnover for the first 5 fiscal years to be counted from the enforcement of the present promotion regime).

In order to be considered as the main activity, the turnover of the promoted activities must represent at least 70% of the total. Should the beneficiary subject had not yet issued any invoice, it might request its registration by filing a sworn statement and providing evidence that 70% of its personnel are involved in such activity.

Fiscal Benefits

The beneficiaries of this promotion regime are entitled to a fiscal stability in connection with the activities subject to promotion as from the date of their registration at the National Registry of Beneficiaries of the Regime for the Promotion of Knowledge Economy, and therefore their total national tax burden would not be increased at the time of filing the application in the mentioned Registry (in other words, national taxes having as passive subjects the registered beneficiaries, as well as duties or fees to imports and/or exports).

In line with employers’ social security contributions, for each worker under a labor relationship a detraction (reduction) of an amount equivalent to ARS 17,509.20 is established, amount which will be reviewed and updated according to the Consumer’s Price Index. Furthermore, the beneficiaries can obtain a fiscal credit bonus which is transferable only once and equivalent to 1.6 times the amount of the employers’ contributions which would have corresponded to be paid over the amount referred to above, and the same can be applicable to the payment of income tax or VAT. Whenever an employee under an employer-employee relationship holds the title/degree of Doctor, the fiscal credit bonus generated by such employee will be equivalent to two times the employer’s social security contributions which should have been paid over the amount of ARS 17,509.20 (updatable) previously referred to, for the term of 24 months since his/her incorporation.

Regarding income tax, the beneficiaries will be subject to a reduced rate of 15% provided always that the personnel payroll is kept according to the provisions established in the pertinent regulations. Additionally, a credit can also be deducted for taxes actually paid or withheld abroad, whenever referring to income from an Argentine source (up to the limit of the tax obligation increase arisen from the incorporation of such income).

Finally, the beneficiaries will not be subject to VAT withholdings or collections.

Rate Verification, Control and Payment

The application authority may carry out audits, verifications, inspections, controls and/or evaluations aimed at verifying the fulfillment of the liabilities and obligations corresponding to the beneficiaries. These tasks will be settled through the payment of a fee that may not exceed 4% calculated over the amount of the fiscal benefits obtained within the framework of the present promotion regime.

Financing Contribution

Finally, each beneficiary will have to pay, on an annual basis, an amount equivalent to up to 1.5% of the total amount of the fiscal benefits granted, to the Fiduciary Fund for the Development of Enterprising Capital (acronym in Spanish “FONDCE”).

Appointment of new Directors in Jebsen & Co. - March 2019

Taxation in Argentina - March 2019

Corporate Taxation – at a glance

 

Tax Rate % 
Corporate or Branch Income 30
Capital Gains 30
Withholding Tax:  
Dividends 7
Interest 15.05 / 35
Royalties (patents, trademarks and know-how) 28
Royalties (copyrights) 12.25% / 31.5%
Royalties (other) 31.5%
Fees (technical) 21% / 31.5%
Fees (management) 24.5% / 31.5%
Branch Remittance

7

 

The Net Operating Losses can be carried forward for 5 tax periods.

Taxes On Corporate Income and Gains

Corporate Income Tax

Resident corporations are taxed on worldwide income. Any profits, including capital gains, are taxable. Non-resident corporations are subject to tax on Argentine-source income only.
 
Corporate income tax rate is 30% for tax periods beginning as from January 1st, 2018 (the rate will be 25% for tax periods beginning as from January 1st, 2020). Exceptionally, income derived from gambling operations performed in casinos or through electronic machines or digital platforms is subject to income tax at 41.5% rate.
 
Capital gains are included in the taxable income of corporations.
 
Thin capitalization rules limit the deductibility of interest (including updates and exchange differences) arising from loans with related companies up to 30% of the taxable EBITDA (earnings before interest, taxes, depreciations and amortizations) or ARS 1,000,000, whichever is higher. Among other, economic groups highly indebted with third parties are excluded.
 
Distribution of dividends and branch profit remittances are subject to a withholding tax of 7% (when paid out of corporate profits subject to the 30% tax rate) or 13% (when paid of corporate profits taxed at the 25% tax rate).
 
Resident corporations may credit foreign income taxes against their Argentine tax liability, up to the amount of the increase in that liability resulting from including foreign source income in the taxable base.
 
The tax is applied to the accounting profit earned in the period, after adjustments indicated by tax law. Exemptions are usually insignificant. Expenses are deductible to the extent incurred in producing taxable income.
 
The inventories (stocks) are valued according to procedures established by tax law, which result in values determined between the cost and the market value at the end of the tax period. Fixed assets and other investments acquired as from January 1st, 2018 can be updated for inflation in order to determine depreciations and their computable cost in the event of sale or transfer.
 
Provisions for bad debts are allowed, but they must be computed according to methods prescribed by the law.
 
The assets are usually depreciated using the straight line method over the assets’ useful lives (a method based on effective use may also be acceptable). The law doesn’t specify rates for movable assets.
 
The application of the inflation adjustment mechanism is established for tax years in which a percentage of variation of the Retail Price Index (IPC) higher than 100% is verified during the 36 months prior to the closing of the relevant fiscal year.
 
Tax losses may be carried forward for 5 tax periods. Losses from foreign sources may offset only foreign source incomes. Loss carry-backs are not permitted.
 
The tax year for a corporation is its accounting year. Corporations are required to make 10 monthly advance payments, starting in the sixth month of the tax year. The first advance payment must be equal to 25% and the remainder to 8.33% of the tax assessed for the last tax year as reduced by withholdings taxes paid in respect to the same tax year.
 
Corporations must file their tax returns and pay any balance due by a specified date in the fifth month after the end of their accounting year.
 

Personal Assets Tax

Equity investments in Argentine entities held by foreign investors and resident individuals are subject to this tax at a 0.25% rate.
 
This tax on equity investments must be paid by the Argentine entity, which is entitled to seek reimbursement of the tax from the investors.
 

 

Tax on Debits and Credits in Current Account

Debits and credits in current account are subject to this tax at a 0.6% rate. The 33% of the tax levied on credits can be credited against Income Tax and/or Minimum Presumed Income Tax.

The following operations are considered to replace the use of debits and credits in current account, and therefore they are taxed at an increased rate of 1.2%:

a. Management of the collection of checks, invoices and any other instrument
b. Drafts and transfers carried out via any means
c. Payments on behalf of and/or in the name of a third party

In this case, the 17% of the tax levied on these operations can be credited against Income Tax and/or Minimum Presumed Income Tax.

On the other hand, debits and credits originated in activities carried out by grain brokers, livestock brokers and other intermediaries, are taxed to a reduced rate of 0.075% without right to tax credit.

Turnover Tax

The provinces and the City of Buenos Aires levy this tax on gross revenues derived from the usual practice of economic activities.

Rates vary depending on the type of activity, ranging generally from 1% to 8%. Exportations are generally exempt. Primary and industrial production activities -except for sales to final consumers- can be exempt, under certain conditions.

Stamp Tax

The provinces and the City of Buenos Aires levy this tax on contracts for consideration, which are implemented in writing.  Rates vary depending on the type of contract and the jurisdiction in which the same is enforceable, ranging generally from 0.5% to 4%.

Municipal Rates

Each municipality applies rates on services rendered to persons domiciled therein. In general, the rates are calculated in accordance with certain variables (e.g. activity developed, surface occupied and turnover amount).

Other Significant Taxes

 

TAX

RATE %

Value added tax (IVA) – standard rate

21

Value added tax (IVA) – other rates

5 / 10.5 / 27

Social security taxes on salaries and wages, paid by the employer

18 / 20.41

Local taxes on real estate, etc.

Various

Export duties on services.

12%2

 

The importer of goods and services in Argentina is liable for payment of VAT on the value of the goods and services imported, which constitutes in-put VAT for the importer.

There is a permanent regime for the reimbursement of tax credits originated in the purchase, construction, manufacturing or import of fixed assets, which after six consecutive tax periods (months) as from their acquisition are still part of the balance in favor of the taxpayer.

These rates will gradually converge in 19.5% for tax periods beginning as from January 1st, 2022. On the other hand, there is a tax allowance of ARS 7,003.68 per employee, which will gradually increase on an annual basis until 2022.

However, the export duty amount must not exceed ARS 4 per each USD of taxable services.

Treaty Withholding Tax Rates

Argentine’s double taxation treaties, which establish maximum tax rates lower than those under general tax law, are the following:

 

Country Dividends % Interest % Royalties %
Australia 10/15 0/12 10/15
Belgium 10/15  0/12  3/5/10/15
Bolivia  (*) (*)  (*)
Brazil 10/15 0/15 10/15
Canada 10/15 0/12.5 3/5/10/15
Chile 10/15 4/12/15 3/10/15
Denmark 10/15 0/12 3/5/10/15
Finland 10/15 0/15 3/5/10/15
France 15 20 18
Germany 15 0/10/15 15
Italy 15 0/20 10/18
Mexico 10/15 0/12 10/15
Netherlands  10/15  0/12 3/5/10/15 
Norway 10/15 0/12 3/5/10/15
Russia 10/15 0/15 15
Spain 10/15 0/12 3/5/10/15
Sweden 10/15 0/12.5 3/5/10/15
Switzerland 10/15 0/12 3/5/10/15
United Kingdom 10/15 0/12 3/5/10/15

 

(*) Without limit.

Personal Taxation

Income Tax – Employment

Residents are subject to tax on worldwide income. Non-residents are taxed only on Argentine source income.

Individuals of foreign nationality, who have obtained a permanent residence in Argentina or have resided temporarily for 12 months, are considered resident. However, individuals residing in Argentina on work assignments for a period not longer than 5 years are taxed only on their Argentine source income.

Taxable income from employment includes all salaries, regardless of taxpayer’s nationality or the place where the compensation is paid or the contract is entered into. Taxable compensation also includes most employer paid items except employee education expenses and the provision of working clothes and equipment.

The progressive tax rates applied to Argentine taxable residents range from 5% to 35% (depending on the taxable income). Non-residents are taxed at a flat rate of 35%.

When computing tax to be withheld from an employee’s salary, employers are authorized to deduct certain allowable expenses (e.g.: social security contributions, medical insurance payments for employees and their families, medical expenses, cost of home rent, expenses incurred by travelling salesmen based on estimates established by the tax authorities, burial expenses and life insurance premiums).

Other standard deductions are permitted in fixed amounts established by law. Their estimated amounts include a personal deduction of ARS 412,075.14, a personal exemption of ARS 85,848.99, and family allowances equal to ARS 80,033.97 for spouse and ARS 40,361.43 for each child. To qualify, the dependants must reside in Argentina for more than 6 months in the year and must not have income in excess of the amount of the personal exemption.

Income Tax – Self-Employment / Business Income

Residents are subject to tax on their worldwide self-employment and business income. Non-residents are subject to tax on self-employment and business income only from Argentine source.

Self-employment or business income is taxable regardless of the recipient’s nationality, the place of payment, or where the contract was concluded.

The progressive tax rates range from 5% to 35%.

Expenses incurred in producing income are deductible. Certain expenses not primarily incurred for business purposes are deductible as well (e.g.: social security contributions, medical insurance payments for employees and their families, medical expenses, expenses incurred by travelling salesmen based on estimates established by the tax authorities, burial expenses and life insurance premiums).

Other standard deductions are permitted in fixed amounts established by law. Their estimated amounts include a personal deduction of ARS 171,697.97, a personal exemption of ARS 85,848.99, and family allowances equal to ARS 80,033.97 for spouse and ARS 40,361.43 for each child. To qualify, the dependants must reside in Argentina for more than 6 months in the year and must not have income in excess of the amount of the personal exemption.

Director’s fees are taxed as self-employment income. If they are paid by Argentine companies they are considered Argentine source income regardless of where services are performed.

Investment Income

 

Dividends from Argentine corporations and branch remittances are taxable at a rate of 7% (when paid out of corporate profits subject to the 30% tax rate) or 13% (when paid of corporate profits taxed at the 25% tax rate).

Royalties and income from renting real property are taxed as an ordinary income.

Financial gains are subject to tax, as well as capital gains derived from the sale of shares, values representative of shares and certificates for the deposit of shares and other corporate participations (including quotas of mutual investment funds and certificates of participations in financial trusts and any other right over trusts and similar contracts), digital coins, securities, bonds and othervalues.

Income tax rate is 15% for capital gains or profits derived from investments in foreign currency or with an adjustment clause –exchange differences or capital updates are excluded–, as well as income derived from the sale of shares and similar corporate participations. Applicable rate for capital gains or profits derived from investments in local currency without adjustment clause is 5%.

A deduction of ARS 85,848.99 is allowed for capital gains or profits derived from local investments, except for income from the sale of shares and similar corporate participations.

Income derived from the sale of shares with a quotation negotiated at the local exchange markets is exempt, as well as income derived from operations concerning the public offer of shares carried out according to the provisions set-forth by the National Securities Commission. The exemption is extended to the case of mutual investment funds whose assets are mainly formed by shares (at least at a 75%). These exemptions are applicable to individuals resident in Argentina. They also apply to foreign beneficiaries residing in “cooperative jurisdictions” or whose invested amounts come from such jurisdictions (except for bank notes known as “Lebacs”).

Relief for Losses

Business losses of self-employed individuals may be carried forward for 5 years. Foreign source business losses may offset only foreign source income.

Capital Gains

Capital gains derived from the sale or transfer of shares, bonds and other securities are taxable at a 15% rate. The sale of real estate owned by individuals (except the dwelling house) is subject to tax and the applicable rate and taxable base depend on the purchase date of the property. If it was purchased before January 1st, 2018, real estate transfer tax is levied on the sale price at 1.5% rate; if it was purchased as from that date, income tax applies at a 15% rate on the difference between sale price and updated cost, plus certain expenses.

Personal Assets Tax

 
Individuals domiciled in Argentina are subject to the personal assets tax on their worldwide assets to the extent that their aggregate taxable value exceeds ARS 2,000,000. The progressive tax rates range from 0.25% to 0.75%.
 
Rural immovable properties are exempt. Dwelling house used by the taxpayer is not levied when its taxable value is lower than ARS 18,000,000. Liabilities other than mortgages on the taxpayer’s home are not deductible.
 
Individuals domiciled abroad and expatriates residing in Argentina on work assignments for a period not longer than 5 years are taxed only on their assets located in Argentina.
 
Notwithstanding the above mentioned, equity investments in Argentine entities held by foreign investors and resident individuals are taxable at a 0.25% unique rate. In this case, the tax must be paid by the Argentine entity, which is entitled to seek reimbursement of the paid tax from the investors.
 

Social Security Taxes

In general, contributions are paid in accordance with the following schedule: 20.4%3 in charge of employer and 17.5% in charge of employee.
 
Employer’s contributions are calculated by applying the above-mentioned rate (20.4%) on compensations paid to employees less a tax allowance of ARS 7,003.68 per employee, which will gradually increase on an annual basis until 2022. Employee’s contributions are calculated over up to a maximum taxable remuneration of ARS 117,682.47.
 
Employers pay additional amounts calculated on different bases for unemployment, life, disability and worker’s compensation insurance.
 
Self-employed individuals pay social security contributions not on actual earnings, but on amounts established by law, depending on the activity.
 

Administration

Employers have to submit to the tax authorities the information about their employees (they also withhold taxes when paying salaries).
 
Self-employed taxpayers must register with the tax authorities. Tax returns are filed annually in June, declaring earnings for the previous calendar year.
 
Individuals with non-wage income, such as self-employment income, must make advance payments in June, August, October and December of the relevant tax year and February of the following year. Each of the advance payments is equal to 20% of the tax assessed for the last tax year as reduced by withholding taxes corresponding to the same year.
 
There is a withholding system for payments to resident individuals. Amounts  withheld are treated as advance payments.
 

Non-residents Taxation

Non-residents residing in Argentina more than 6 months in a calendar year must file income tax returns and claim the actual deductible expenses incurred and exemptions available to residents.
 
Non-residents residing temporarily in Argentina (for 6 months or less) are subject to withholding taxes after a deduction of 30% of their compensation to reflect expenses incurred in earning income. The remaining 70% is taxed at a flat rate of 35%, with no other deductions or exemptions, giving an effective withholding tax rate of 24.5%.
 
Employer’s contributions are remitted to different Government funds or agencies as prescribed by law, to wit: pension fund, retiree health benefits, family allowance fund and unemployment fund.
 
Withholding tax is a final tax. Non-residents subject to withholding tax are not required to file tax returns.
 
Dividends from Argentine corporations paid to non-residents are taxable at a rate of 7% (when paid out of corporate profits subject to the 30% tax rate) or 13% (when paid of corporate profits taxed at the 25% tax rate).
 
Social security taxes are collected as outlined previously; however, both employer and employee may be exempt from contributions to the Argentine pension fund provided certain conditions are met.
 

Double Tax Relief

A tax credit is allowed for income taxes paid abroad, up to the increase in Argentine tax resulting from the inclusion of the foreign source income in the Argentine tax base.

Transfer Pricing

Transactions with related parties

For all transactions with foreign related parties, local companies must show whether prices have been agreed upon according to market values between independent parties, otherwise make the corresponding price adjustment for corporate income tax purposes.

This procedure also applies to transactions carried out with parties organized or located in non-cooperative jurisdictions (as listed by the Executive Branch* ), regardless of whether the parties are related or not.

The definition of “related party” is very large. It includes not only situations of direct or indirect participation in the capital, control or management, but also the exercise of a significant influence over another entity (e.g. exclusive distributor, single supplier, single customer, single client, and company having the exclusive use of technology or assistance).

In general, the following methods are allowed: (i) Comparable Uncontrolled Price; (ii) Resale Price; (iii) Cost Plus; (iv) Profit Split; and (v) Transactional Net Margin.

Reporting Requirements

Taxpayers subject to transfer pricing rules must file a Local File (transfer pricing report) and information returns to report intercompany transactions -on an annual basis- when they exceed ARS 3,000,000 (total amount of transactions) or ARS 300,000 (individual amount per transaction).
 
*A non-cooperative jurisdiction is considered as one that has not signed with Argentina an international agreement for the exchange of information on tax matters or an agreement to avoid international double taxation with an extensive clause for the exchange of information, or having signed any agreement with such extents, do not effectively comply with the information exchange.
*Low or nil tax jurisdictions are those countries or tax regimes that have a maximum corporate income tax rate -considering all levels of government- lower than 60% of the 25% Argentine corporate income tax rate.
 
They must also file information returns to report importations and exportations with non- related parties, when either the total amount of such transactions exceeds ARS 1,000,000 in the tax year or the goods traded are commodities.
 
Furthermore, an annual Country-by-Country Report on revenues, gross profits, paid and accrued income tax and other indicators of economic activity, must be filed by multinational enterprise (‘MNE’) groups whose total consolidated revenue is equal to or higher than EUR 750 million in the previous tax period. Local companies belonging to a MNE group must register in a special registry and submit -on an annual basis- certain information on the ultimate parent entity of the MNE.
 

 

Tax Department
March 2019

 

 

© mgi Jebsen & Co. The information of this publication is not to be construed as an opinion or tax advice and does not imply a comprehensive coverage of all the matters referred to herein.

48th Anniversary - March 2019

1971 – 2019

It is a great pleasure to share with you the first 48 years of life of Jebsen & Co. which we are celebrating on 1st March 2019.

Retrospectively, we can observe long and lasting relationships with our clients as well as the steadiness of our staff members.

Both aspects are the main and essential assets of Jebsen & Co. for which we feel very proud and grateful on this significant date for our professional activity.

We look at the future of our development with optimism and hope to continue sharing the same both with our staff and our clients.

Best regards

Nicolás Scalone, Carlos Anavia, Juan Espeso, Silvio Ureta, Luis Uncal, A. Rafael Faillace, Martin Jebsen

CRONISTA.COM - August 2015

By Dolores Olveira | CRONISTA.COM

Justice has ruled in favour of a company that was able to prove that a money contribution received from its head office overseas was not a simple capital contribution pretending to be a loan in order to accrue interest, and therefore use the expenses to reduce the amounts to be paid as Income Tax, but has instead been a real trade operation.
The Courtroom IV of the Federal Chamber for Contentious Administrative Proceedings, confirmed the final judgement of the National Fiscal Court on the case “Lexmark International de Argentina Inc. Sucursal Argentina” that had revoked an adjustment made by the AFIP (tax authorities) in relation to the deduction of interest and exchange differences concerning unpaid balances in foreign currency due to the purchase of goods to a related company from Uruguay, which the Tax Authorities had considered to be capital contributions.
The AFIP justified that adjustment on the principle of economic reality, re-classifying the importation of inventories as capital contributions in view that the same were operations between related companies, alleging that there existed no term for the cancellation of debts, no interest due to delays in payment, no refinancing agreements signed or special guarantees and, furthermore, there existed no intention for permanence of the funds because the creditors did not expect any reimbursement and had made no claim whatsoever, as explained by Nicolás Scalone, from Jebsen & Co.
The Chamber considered unsatisfactory the evidences produced by the AFIP in order to justify the adjustment made, because it has been duly proved on the case, through accountant’s expert evidence, that the liabilities corresponded to real trade operations and were related to the trade activities of the taxpayer, and that from 2003 to 2007 most of the debt’s total had been cancelled, being this used as a contundent evidence to show the existence of the permanence of funds plead by the AFIP.
Note extracted from: CRONISTA.COM printed edition.
Date: 14 August 2015

HELVETIA MAGAZINE - March 2015

PARTNERS NEWS
COMPANIES INFORM

Since 1987 Jebsen & Co. is a member of mgi, an international alliance that is currently represented by 315 firms in 85 countries. Recently, and during the Annual General Meeting held on October 2014, mgi has announced that within the alliance a new network structure will be created. During said meeting, Luis Uncal, partner of Jebsen & Co., has been appointed as “Risk Partner for the Latin American Area”. This duty implies that he will be the valid spokesman before the remaining areas of mgi and before the International Committee of mgi during the process of quality control implementation. His main activity will be to act as intermediary between the headquarters in London and the Latin American Area, with more than 40 members, on all issues referred to the implementation of the network within mgi, aimed at assuring the fulfillment of the Area’s needs.
www.jebsen.com.ar

Note extracted from: Helvetia Magazine
Date: March 2015

HELVETIA MAGAZINE - June 2013

MGI meeting in Uruguay

The partners of MGI Jebsen & Co., Rafael Faillace, Luis Uncal and Martín Jebsen, have last May attended the Annual Latin American Area Meeting of MGI. They travelled to Montevideo, together with two of their staff members, Ms. Gisela Oddera (accountant) and Mr. Nicolás Scalone (lawyer), to attend this event organized by the uruguayan firm MGI CASU, held at the Sheraton Hotel of Montevideo. It is worth mentioning that Nicolás Scalone, Manager of the Legal – Tax Department of MGI Jebsen & Co., together with his colleague from MGI CASU, the CPA Nicolás May, were invited to made a lecture during said meeting about the issue “TIEA: Tax Information Exchange Agreements”.
Furthermore, Rafael Faillace made a presentation about “Transfer Pricing: working experiences between Latin American Area firms of MGI”.
www.jebsen.com.ar

Note extracted from: Helvetia Magazine
Date: June 2013