Selling Real Estate from an Argentine Succession in Buenos Aires: A Guide for Foreign Heirs from the United States of America

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When it comes to selling real estate in Buenos Aires as a foreign heir from the United States of America, there are several important considerations to keep in mind. One such consideration is the payment of taxes, as well as obtaining a Certificate of Retention by AFIP.

Paying Taxes

As a foreign heir, it is crucial to understand the tax obligations associated with selling real estate in Buenos Aires. In Argentina, the tax system can be complex, and it is advisable to seek professional advice from a tax attorney or accountant familiar with international taxation.

Typically, when selling real estate in Argentina, the seller is required to pay a capital gains tax. This tax is calculated based on the difference between the purchase price and the selling price of the property. However, it is important to note that tax laws are subject to change, and it is essential to stay updated on the latest regulations.

Certificate of Retention by AFIP

In addition to paying taxes, foreign heirs selling real estate in Buenos Aires need to obtain a Certificate of Retention by AFIP (Administración Federal de Ingresos Públicos). This certificate serves as proof that the appropriate taxes have been paid or retained.

To obtain the Certificate of Retention, it is necessary to appoint a local representative who will act as the taxpayer’s legal representative in Argentina. This representative will handle the necessary paperwork and ensure compliance with AFIP regulations.

It is crucial to engage the services of a reputable attorney or legal firm experienced in handling real estate transactions involving foreign heirs in Argentina. They can guide you through the process, ensuring compliance with all legal and tax requirements.

In conclusion, selling real estate from an Argentine succession in Buenos Aires can be a complex process for foreign heirs from the United States of America. Understanding and fulfilling tax obligations, as well as obtaining the necessary Certificate of Retention by AFIP, are crucial steps to ensure a smooth and successful transaction.

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