Argentina tax: Exemption from Turnover Tax

The city of Buenos Aires has created the "Parque Patricios Technology District," under which companies doing business in the district will be granted an exemption, or deferral in certain cases, from turnover tax, stamp duty and property tax for up to 10 years. Additionally, companies operating in the technology district will be eligible for favorable loans from the City Bank.

The main activities that qualify for the incentives are: (1) the development and implementation of software; (2) computing services related to network safety, data management, etc.; (3) shared service centers; (4) hardware production; and (5) contact services activities, including customer assistance, remote technical assistance and sales. It will be necessary to register with the Buenos Aires City authorities to obtain the incentives. The production of software also may be entitled to federal tax benefits in certain circumstances.