ARTICLE
The Tax Authority broadens the scope of the “Registro de Operaciones Inmobiliarias” (Real Estate Transactions Registry)
The AFIP broadened the scope of the Real Estate Transactions Registry and set forth a new information regime for transactions related to such registry
May 31, 2010
Please find below the main highlights of the regime.
General Resolution No. 2820, dated as of April 30, 2010, sets forth the obligation to register for those who carry out any of the following activities, among others:
a. Intermediation in the purchase or lease of real estate in exchange of a commission, salary or fee.
b. Leasing of urban real estate if the rent equals or exceeds the amount of $8,000 per month. In the case of rural properties, the land must measure at least 30 hectares under a single operating unit.
c. Real estate developments involving more than three sales per year and that the price recorded in the deed of sale exceeds $ 300,000;
d. Lease of fixed or mobile spaces or surfaces (i.e. shops, stands, shelves, advertising spots, parking spots, etc.) in amounts exceeding $8,000 per month.
The regime applies to individuals, undivided estates, companies and trusts among others.
The registration must be made through Internet for each type of transaction.
Furthermore, it also sets forth that transferors, lessors and landlords are subject to an information regime through the filing of an affidavit.
General Resolution No. 2820, dated as of April 30, 2010, sets forth the obligation to register for those who carry out any of the following activities, among others:
a. Intermediation in the purchase or lease of real estate in exchange of a commission, salary or fee.
b. Leasing of urban real estate if the rent equals or exceeds the amount of $8,000 per month. In the case of rural properties, the land must measure at least 30 hectares under a single operating unit.
c. Real estate developments involving more than three sales per year and that the price recorded in the deed of sale exceeds $ 300,000;
d. Lease of fixed or mobile spaces or surfaces (i.e. shops, stands, shelves, advertising spots, parking spots, etc.) in amounts exceeding $8,000 per month.
The regime applies to individuals, undivided estates, companies and trusts among others.
The registration must be made through Internet for each type of transaction.
Furthermore, it also sets forth that transferors, lessors and landlords are subject to an information regime through the filing of an affidavit.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.