Argentina is the second largest country in South America and the eighth largest in the world.
It is a country characterized by the variety that it offers both geographically and culturally. Buenos Aires, the capital and main city of the Argentine Republic, is known as “Paris of Latin America”, since it has been defined many times as the most European city in Latin America.
Argentina’s economy is the third largest in Latin America behind those of Brazil and Mexico, and the second largest in South America. The Argentine economy is the number 21 by volume of GDP and is based on the activity of the tertiary sector, with a great diversification in the services area, particularly in administrative areas.
The country has an abundance of natural resources. It has large extensions of extraordinarily fertile agricultural land and an enormous potential in renewable energies. It is a leader in food production, with large-scale industries in the agriculture and livestock sectors. It also has great opportunities in some manufacturing subsectors and in the innovative high technology services sector. Following a global trend, lately the startups are flourishing in large volumes giving a new boost to the national economy.
Its exportations keep the country in an excellent export position for the agricultural sector, meet, wines and leather.
Argentina is 116th on the Rank of 190 countries that make up the Doing Business ranking, which classifies countries according to the easiness they offer for doing business.
The country is in the process of an economic transformation that promotes sustainable economic development with social inclusion and insertion at the global economy.
Contracting in Latin America is not a simple task and has many on-costs for employers. Most in country tax laws do not recognize contractors per se, hence contract workers may need to be remunerated as employees, taxes withheld and paid to various city, state and federal governments, and reserve funds held for other entitlements until end of contract. Please contact CXC Global for professional advice on the specific legislation applying in the country in order to facilitate contractors and foreign nationals working in Argentina. Forward planning is of the essence to optimize costs. Argentina has entered into double taxation treaties with other countries.
For foreign national contract workers, contracting in Argentina, it would be wise to consult with CXC Global on the best way to structure, and how best to balance your taxation.
With our extensive experience and expertise in contractor management, and assisting organizations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Argentina, facilitating accounting services and administration, local tax calculations, social security registration, tax balancing and preparation of personal income tax return at the end of the tax year.
The services provided by our local office in the country include