Daniel Rybnik

Daniel Rybnik

Address Details

Santos Dumont 2715 C1426DDA Buenos Aires Argentina Argentina
Telephone: +54 11 4776 8200 Fax: +54 11 4776 8111 E-mail: daniel.rybnik@corptax.org

Personal Resume

Daniel Rybnik studied law at the Fordham University in America and at the University of Buenos Aires. He has been operative in the tax service since 1991 and held several senior positions with Coopers and Lybrand. Before joining Enterpricing in 2003, he worked for Ernst and Young as head of the international tax services in Argentina. He has experience in several tax areas and is currently focused on transfer pricing.

Publications

More information about Argentina

In Argentina, the separation of powers between Legislative, Judicial and Executive must be respected by the federal, provincial and municipal governments, including the City of Buenos Aires. The Argentine Constitution upholds the "no taxation without representation" principle which implies that the Legislative body is the only authorized at all three levels of government to impose taxes or change substantial aspects of taxes already in force. The income tax is applicable to resident taxpayers on their worldwide income with tax credit for similar taxes paid outside of Argentina. Non residents are subject to income tax on their Argentine source income. Argentine companies operating with foreign related parties or independent parties located in tax haven jurisdiction must justify the arm's length nature of their dealings. Transfer pricing rules generally follow the OECD Guidelines, with some important departures. Foreign trade triangulation and commodities exports are usually under scrutiny by the tax authorities. The Corporate Income Tax is creditable against the Minimum Presumed Tax which in practice creates a tax burden equivalent to achieving an arm’s length net profit margin (where the Transactional Net Margin method is selected and applied) with a return of 1% of total worldwide assets (the base on which the “Minimum Presumed Income Tax” is levied). Equity interests held by individuals and nonresidents, are subject to the Personal Assets Tax at a rate of 0.5% on the book value of the Argentine companies who are required to pay the tax. The are various planning opportunities such as the extensive Treaty network that provides tax relief on income and capital items. VAT is levied on sales, services and imports into Argentina. The Gross Revenue Tax is imposed by the Provinces and the City of Buenos Aires. Exports of goods and services are exempt from VAT and Gross Revenue Tax in certain local jurisdictions. The Stamp Tax is also imposed by the Provinces and the City of Buenos Aires. Agreements entered without the express written consent of the oferee are generally not taxable. There are certain special tax regimes available for specific industries, such as mining, software, biotechnology, and certain "eco-friendly" projects. As a Mercosur member, trade with other Mercosur countries is not subject to customs duties. Supply chain management, transfer pricing, selection of business entity, election of foreign parent, debt vs. Equity funding, geographic location and contract instrumentation are key areas to structure in order to minimize tax and foreign exchange exposure in Argentina.

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