CNV announces tax regulations for financial instruments in the capital markets
30 diciembre 2021


On December 29, the National Securities Commission (CNV in Spanish) established the requirements that financial instruments settled in local currency must comply with in order to enjoy the exemptions provided by Law 27.638 amending the Income Tax and Personal Property Tax. You may access the measure by clicking here.

Law 27.638 establishes an exemption from Personal Property Tax applicable to the holding of shares of mutual funds and certificates of participation or debt securities of financial trusts placed by public offering with the authorization of the CNV and whose main underlying asset is made up of deposits and certain assets that are exempt from this Tax.

In addition, it provides that those instruments in local currency destined to the financing of Micro, Small and Medium Enterprises (MSMEs) are exempt from Income and Personal Property Tax.

Now, through Resolution 917, the CNV established an information regime establishing who are the parties obliged to comply with it, as well as the form and term in which the information must be sent to the agency, in order to identify the instruments that meet the requirements to enjoy the exemptions established in Law 27,638.

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