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1、Worldwide Personal Tax and Immigration Guide2022-23PrefaceGovernments worldwide continue to reform their tax codes at a historically rapid rate.Taxpayers need a current guide,such as the Worldwide Personal Tax and Immigration Guide,in such a shifting tax landscape,especially if they are contemplatin
2、g new markets.The content is straightforward.Chapter by chapter,from Albania to Zimbabwe,we summarize personal tax systems and immigra-tion rules in 159 jurisdictions.The content is current on 1 September 2022 with exceptions noted.Keep up-to-date on significant tax developments around the globe wit
3、h the EY Global Tax Alert library here.Only some of the chapters in this Tax Guide reflect COVID-19 tax policy measures.Each chapter begins with our in-country executive and immigra-tion contact information,and some jurisdictions add contacts from our Private Client Services practice.We then lay out
4、 the essential facts about the jurisdictions personal taxes.We start with the personal income tax,explaining who is liable for tax and,at some length,what types of income are considered taxable and which rates,deductions and credits apply.A section on other taxes varies by jurisdiction but often inc
5、ludes estate,inheritance,gift and real estate taxes.A social security section covers pay-ments for publicly provided health,pensions and other social benefits,followed by sections on tax filing and payment proce-dures as well as double tax relief and tax treaties.The immigra-tion sections provide in
6、formation on temporary visas,work visas and permits,residence visas and permits,and family and per-sonal considerations.At the back of this Tax Guide,you will find a list of the names and codes for national currencies and a list of contacts for other jurisdictions.For many years,the Worldwide Person
7、al Tax and Immigration Guide has been published annually along with two companion guides on broad-based taxes:the Worldwide Corporate Tax Guide and the Worldwide VAT,GST and Sales Tax Guide.In recent years,those three have been joined by additional Tax Guides on more-specific topics,including the Wo
8、rldwide Estate and Inheritance Tax Guide,the Worldwide Transfer Pricing Reference Guide,the Worldwide R&D Incentives Reference Guide and the Worldwide Capital and Fixed Assets Guide.Each of the Tax Guides represents thousands of hours of tax research.They are available free online along with timely
9、Global Tax Alerts and other publications on .You can keep up with the latest updates at EY organization February 2023This material has been prepared for general informational pur-poses only and is not intended to be relied upon as accounting,tax,legal or other professional advice.Please refer to you
10、r advi-sors for specific advice.About EYs Tax ServicesYour business will only succeed if you build it on a strong foun-dation and grow it in a sustainable way.At the EY organization,we believe that managing your tax obligations responsibly and proactively can make a critical difference.Our 50,000 ta
11、lented tax professionals,in more than 150 countries,give you technical knowledge,business experience,consistency and an unwavering commitment to quality service wherever you are and whatever tax services you need.2023 EYGM Limited.All Rights Reserved.ContentsAbout EY People Advisory Services.11EY Gl
12、obal Tax contacts.12Albania.14Algeria.25Angola.33Anguilla(other jurisdictions chapter).1747Antigua and Barbuda(other jurisdictions chapter).1747Argentina.39Armenia.51Australia.63Austria(European Union member state).80Azerbaijan.94Bahamas.100Bahrain.105Bangladesh(other jurisdictions chapter).1747Barb
13、ados.109Belgium(European Union member state).119Bermuda.137Bolivia.148Bonaire,Sint Eustatius and Saba(BES-Islands).155Bosnia and Herzegovina(other jurisdictions chapter).1747Botswana.161Brazil.168British Virgin Islands.182Brunei Darussalam.187Bulgaria(European Union member state).191Burkina Faso(oth
14、er jurisdictions chapter).1747Cambodia.203Cameroon.211Canada.221Cape Verde.247Cayman Islands.254Chad.263Chile.270China Mainland.280Colombia.298Congo,Democratic Republic of.311Congo,Republic of.316Costa Rica.324Cte dIvoire.330Croatia(European Union member state).340Curaao.348Cyprus(European Union mem
15、ber state).357Czech Republic(European Union member state).373Denmark(European Union member state).384Dominica(other jurisdictions chapter).1747Dominican Republic.395Ecuador.400Egypt.407El Salvador.416Equatorial Guinea.423Estonia(European Union member state).429Eswatini(formerly Swaziland).454Faroe I
16、slands(other jurisdictions chapter).1747Fiji.460Finland(European Union member state).467France(European Union member state).480Gabon.504Georgia.511Germany(European Union member state).524Ghana.546Gibraltar.553Greece(European Union member state).568Greenland(other jurisdictions chapter).1747Grenada(o
17、ther jurisdictions chapter).1747 Guam.582Guatemala.593Guernsey,Channel Islands.600Guinea.608Guyana.613Honduras.622Hong Kong.627Hungary(European Union member state).639Iceland.652India.662Indonesia.693Iraq.707Ireland,Republic of(European Union member state).711Isle of Man.733Israel.739Italy(European
18、Union member state).754Jamaica.772Japan.781Jersey,Channel Islands.793Jordan.803Kazakhstan.808Kenya.826Korea(South).837Kosovo.860Kuwait.871Laos.877Latvia(European Union member state).883Lebanon.895Lesotho.902Liberia(other jurisdictions chapter).1748Libya.905Liechtenstein.909Lithuania(European Union m
19、ember state).914Luxembourg(European Union member state).927Macau.942Madagascar.950Malawi.955Malaysia.964Maldives.981Mali(other jurisdictions chapter).1748Malta(European Union member state).984Marshall Islands(other jurisdictions chapter).1748Mauritania.1013Mauritius.1021Mexico.1037Micronesia(other j
20、urisdictions chapter).1748Moldova.1051Monaco.1058Mongolia.1064Montenegro,Republic of.1071Montserrat(other jurisdictions chapter).1748Morocco.1076Mozambique.1086Myanmar(other jurisdictions chapter).1748Namibia.1091Netherlands(European Union member state).1100New Caledonia.1126New Zealand.1133Nicaragu
21、a.1153Niger(other jurisdictions chapter).1748Nigeria.1160North Macedonia.1169Northern Mariana Islands,Commonwealth of the.1178Norway.1189Oman.1200Pakistan.1205Palau(other jurisdictions chapter).1748Palestinian Authority.1222Panama.1226Papua New Guinea.1238Paraguay.1246Peru.1252Philippines.1262Poland
22、(European Union member state).1288Portugal(European Union member state).1304Puerto Rico.1324Qatar.1336Romania(European Union member state).1342Rwanda.1353St.Kitts and Nevis(other jurisdictions chapter).1748St.Lucia.1358St.Vincent and the Grenadines (other jurisdictions chapter).1748So Tom and Prncip
23、e.1364Saudi Arabia.1370Senegal.1377Serbia,Republic of.1386Singapore.1392Sint Maarten.1405Slovak Republic(European Union member state).1414Slovenia.1427South Africa.1439South Sudan.1452Spain(European Union member state).1456Sri Lanka.1471Suriname.1480Sweden(European Union member state).1486Switzerlan
24、d.1498Taiwan.1512Tanzania.1531Thailand.1539Trinidad and Tobago.1545Tunisia.1554Turkey.1564Uganda.1580Ukraine.1590United Arab Emirates.1602United Kingdom.1607United States.1651US Virgin Islands.1687Uruguay.1691Uzbekistan.1697Venezuela.1706Vietnam.1713Zambia.1727Zimbabwe.1735Contacts for other jurisdi
25、ctions.1747Foreign currencies.174911About EY People Advisory ServicesWhat makes a workforce the life-force of business transformation?The EY organization knows that when you put humans at the cen-ter,you maximize the ability for people to be as connected and adaptable as they can be.Whether employee
26、 or customer,all peo-ple are a priority.The more capable and adaptable your workforce is,the more your people deliver.The result is a sustainable,people-centered enterprise,powered by technology,creating exponential value.Our immigration services include risk assessments,help with government and reg
27、ulatory bodies and service providers,and where required,tax,immigration and performance improvement advisory services,all supported by the EY Mobility Pathway plat-form:a single integrated solution between the EY organization,client systems and third-party services providers.Reframe your future.Reim
28、agine work by putting humans at the center of everything you do.If you have any questions or want to find out more about how put-ting humans at the center of business strategy can create an excep-tional experience for your workforce,please get in touch or visit Global People Advisory Services Leader
29、shipNorman Lonergan,+44(20)7980-0596 EY Global Leader Email: People Advisory ServicesElizabeth(Liz)Fealy,+1(212)773-3743 EY Global Deputy Leader and Email: Workforce Advisory LeaderJoost Smits,+31(88)407-4558 EY Global Mobility Leader Email: People Advisory ServicesKim Billeter,+1(404)817-5772 EY Am
30、ericas Leader Email: People Advisory ServicesLay Keng Tan,+60(3)7495-8283 EY Asia-Pacific Leader Email: People Advisory ServicesPeter Reinhardt,+44(20)7980-9620 EY EMEIA Leader Email: People Advisory ServicesShawn Orme,+1(214)969-0855 EY Global Immigration Leader Email: People Advisory Services12EY
31、Global Tax contactsLondon GMTEY+44(20)7951-2000 6 More London Place Fax:+44(20)7951-9308(Tax)London SE1 2DA United KingdomEY Global TaxMarna Ricker,+1(612)371-6770 EY Global Vice Chair Tax Mobile:+1(612)802-4267 Fax:+1(866)281-0440 Email:Susan Pitter,+49(6196)996-26317 EY Global Deputy Vice Chair Ta
32、x Mobile:+49(160)939-26317 Fax:+49(6196)996-24740 Email:Area Tax leadersEY AmericasKevin Flynn+1(415)894-8210 Mobile:+1(650)270-7722 Email:EY Asia-PacificEng Ping Yeo+60(3)7495-8288 Mobile:+60(12)271-5215 Email:eng-EY Europe,Middle East,India and AfricaRocio Reyero Folgado+34 915-727-383 Mobile+34 6
33、19-743-698 Email:EY Global Tax subservice line leadersBusiness Tax ServicesRob Weber+1(212)773-5590 Mobile:+1(617)872-4999 Email:Global Compliance and Reporting(Deputy Leader)Ben Smith+44(20)7951-8144 Mobile:+44 7990-792-134 Email:Indirect TaxKevin MacAuley+44(20)7951-5728 Mobile:+44 7887-822-090 Em
34、ail:International Tax and Transaction ServicesJeffrey M.Michalak Detroit:+1(313)628-8460 Mobile:+1(248)207-1629 Email:EY Global Tax conTacTs 13LawDr.Cornelius Grossmann+49(30)25471-25050 Mobile:+49(163)939-25050 Fax:+49(30)25471-21425 Email:People Advisory ServicesNorman Lonergan+44(20)7980-0596 Mob
35、ile:+44 7711-151-211 Email:Tax and Finance OperateDavid(Dave)H.Helmer+1(202)327-8355 Mobile:+1(703)403-5565 Fax:+1(866)297-8415 Email:Tax Technology and TransformationAlbert Lee+852 2629-3318 Mobile:+852 9664-2630 Email:EY Global Tax functional leadersSteve Albitz,+1(214)969-0677 EY Global Tax Busin
36、ess Mobile:+1(214)755-5952 Development Leader Fax:+1(866)849-9585 Email:Martha Brown,+1(212)773-1777 EY Global Tax Brand,Mobile:+1(646)206-1917 Marketing and Communications Leader Fax:+1(866)700-8094 Email:Katherine Fritts,+1(212)773-2544 EY Global Tax Quality Leader Mobile:+1(646)258-0700 Fax:+1(86
37、6)867-5079 Email:Jiten Shah,+1(732)516-4621 EY Global Tax Mobile:+1(732)794-7720 Chief Financial Officer Fax:+1(866)258-4844 Email:Jennifer(Jenn)Wishnie,+1(212)773-5801 EY Global Tax Talent Leader Mobile:+1(914)830-2377 Fax:+1(866)214-8286 Email:Editor Worldwide Personal Tax and Immigration GuideRon
38、ald Anes+1(732)516-4551 Fax:+1(866)863-4590 Email:14A GMT+1EY Rr.Ibrahim Rrugova,Godina Sky Tower 6th Floor 1001 Tirana AlbaniaExecutive and immigration contactsNevena Kovacheva+359(2)817-7146 (resident in Sofia)Email:Anisa Jasini+355(4)241-9575,Ext.131 Email:A.Income taxWho is liable.Individuals wh
39、o are resident in Albania are subject to tax on their worldwide income.Nonresidents are subject to tax on income derived from Albania sources only.The following individuals are considered resident for tax pur-poses in Albania:Individuals who have a permanent residence,family or vital interests in Al
40、bania.Albanian citizens serving in a consular,diplomatic or similar position outside Albania.Individuals who reside in Albania consecutively or non-consecutively for at least 183 days during a tax year,regardless of their nationality or country of vital interests.The calculation of the residence per
41、iod in Albania includes all of the days of physical presence,including holidays.Income subject to tax.Individuals are subject to tax on the fol-lowing categories of income:Employment income Self-employment and business income Dividends Interest from bank deposits and securities Royalties Income from
42、 rentals and leases of real property and loans Income derived from transfers of ownership rights over immov-able property Income derived from transfers of quotas or shares Income derived from gambling and other games of chance Other income These categories of income are described below.Employment in
43、come.Employed persons are subject to income tax on remuneration and all benefits received from employment.Employment income includes the following:Salaries,wages,allowances,bonuses,and other remuneration and benefits granted for services rendered in a public office or in private employment Directors
44、 fees albania 15Self-employment and business income.Self-employed individu-als must register as entrepreneurs with the National Business Centre for tax purposes.Businesses with annual turnover up to ALL14 million are subject to 0%income tax,while businesses with annual turnover over ALL14 million ar
45、e subject to income tax at a rate of 15%on their profits.Businesses operating in the agriculture sector or the automotive industry or engaged in soft-ware production and development are subject to a reduced tax rate of 5%.Businesses operating in the agriculture sector are subject to a reduced tax ra
46、te of 5%.Entities certified as agro-tourism entities on or before 31 December 2021 are subject to 5%tax rate,which is applicable for a 10-year period.The tax base equals the difference between total gross income and total deductible expenses.Self-employed individuals must make advance payments on a
47、quarterly basis,file the annual tax return and pay the tax due for the year less advance payments made by 10 February of the following year.Businesses with turnover up to ALL8 million must also file the annual tax return by 10 February of the following year.Dividends.Dividends received by individual
48、 shareholders or part-ners in commercial companies are subject to tax at a rate of 8%.Amounts received for decreases in the total of participation quo-tas or capital withdrawals by partners or owners of initial capital are considered dividends received and are taxed to the extent that the amounts ar
49、e paid out of the companys capitalized profits and not from contributions in cash or in kind by the owners.Interest from bank deposits and securities.Bank interest and interest on securities,other than interest generated from govern-ment treasury bills or other securities issued before the law“On in
50、come tax,”as amended,entered into force in 1999,are taxed at a rate of 15%.Royalties.Taxable royalties(intellectual ownership payments)are considered to be income generated from the use of,or the right to use,literature,artistic or scientific works,including mov-ies,tapes,radio records,patents,trade
51、marks,sketches or models,designs,secret formulas,technological processes and industrial,commercial or scientific information.The tax rate for royalties is 15%.Income from rentals and leases of real property and loans.Taxable income from rentals and leases of real property and loans includes any peri
52、odic compensation in cash or in kind that an individual generates from the leasing of real estate and lending of replaceable items(for example,funds).This income is sub-ject to income tax at a rate of 15%.Income derived from transfers of ownership rights over immovable property.The taxation of incom
53、e derived from transfers of owner-ship rights over immovable property is discussed in Capital gains.Income derived from transfers of quotas or shares.The taxation of income derived from transfers of participation quotas or capi-tal shares is discussed in Capital gains.Income derived from gambling an
54、d other games of chance.The payer of income from gambling and other games of chance must 16 albaniawithhold a 15%tax and remit it to the tax authorities within 24 hours after making the payment.Other income.Other forms of income include all types of income that are not identified in the categories m
55、entioned above.This category includes the following:Income from sponsoring(for example,individuals not regis-tered with tax bodies receive sponsoring from different sources and use the sponsorship for artistic or sports activities).Income from professional activities,including teaching,train-ing and
56、 publishing articles in newspapers if the beneficiary is not registered with tax bodies and if such activities are of a temporary or secondary character.Cash contributions to share capital.Such contributions are tax-able if they have not yet been taxed or if no sufficient evidence exists that they o
57、riginate from sources that are excluded from the scope of Albanian taxation or that they are exempt from tax for other reasons.Exempt income.The following types of income are exempt from personal income tax:Income received from obligatory and voluntary schemes for life insurance,pensions and health
58、insurance and allowances for families or individuals with no or low income.Income received from pensions or similar remunerations of foreign citizens with Albanian origin or citizens of European Union(EU)countries having a residence permit in the Republic of Albania,or foreign citizens who have Alba
59、nian citizenship and are Albanian residents.The beneficiaries should have never been convicted in their country or in Albania and should obtain a positive response for exemption of their income from the respective Albanian authorities.The beneficiaries lose their right to exempt their income from ta
60、xes if they do not apply for the renewal of the residence permit.Scholarships received by students.Allowances received for diseases or disasters,up to 20%of the annual employment income earned by the recipient of the allowance.Benefits in cash or in kind granted to former landowners as compensation
61、for an expropriation effected by the government for the public interest.This exemption must be proven by legal documentation explaining the nature of the income.Income in kind,such as food(antidotal),received from busi-nesses that are allowed to pay such income under the law.Income excluded by inter
62、national agreements approved by the Albanian parliament.Indemnities received by former political prisoners.Life and health contributions made by employers for the benefit of employees.Compensation for damages ordered by final court decision.Prizes received from the government for achievement in sci-
63、ence,sport or culture.Income derived from the transfer of an ownership title with respect to agricultural land by a registered farmer to another farmer or a legal entity engaged in agricultural activity and income derived from the transfer of ownership between related family members through withdraw
64、al from the property right or albania 17by donation of it,in the case of benefits resulting from joint ownership as per the Law on Land.Income derived from the transfer of ownership title with respect to a building and/or land through donation or relinquishment of property within the family(husband,
65、wife and children;only once per beneficiary).Contributions made by employers to private pension schemes for their employees,to the extent they do not exceed the limits set forth in the law for voluntary pension contributions,cur-rently set at ALL250,000 per employee per year.The return of investment
66、,including capital gains,made through the assets of a pension fund during the administration by the administration company.Taxation of employer-provided stock options.No specific rules in Albania govern the tax treatment of employer-provided stock options.Stock options are subject to personal income
67、 tax at the moment of exercise.Capital gainsTransfers of ownership rights over immovable property.Capital gains derived from disposals of real estate are subject to tax.The tax base equals the amount by which the sale price exceeds the acquisition cost.Transfers caused by donations are also consid-e
68、red.The value of the property taken into account on transfer may not be less than the“reference price”for such property.For this purpose,the“reference price”is the objective value per meter in the relevant area,as indicated in the reference table published by the Albanian Institute of Statistics for
69、 the main Albanian cities.Effective from 1 January 2019,capital gains derived by nonresi-dents from the alienation of immovable property located in Albania,exploitation and other rights regarding minerals,hydro-carbons and other natural resources in Albania or information related to these rights are
70、 taxed in Albania.Transfers of quotas or shares.Capital gains derived from trans-fers of participation quotas or capital shares include income from sales of quotas owned by partners in businesses or partnerships,income from sales of shares and income from sales or liquida-tions of businesses.The tax
71、 base is equal to the following:Shares:difference between the sales value of the shares and nominal value or the purchase value Capital participation quotas:difference between the sales value and nominal value or the purchase value Liquidation:difference between the sales value or liquidation value
72、of a business and book valueEffective from 1 January 2019,capital gains incurred by non-residents from the alienation of shares deriving more than 50%of their value,at any time during the last 365 days,directly or indirectly from immovable property located in Albania,from exploitation and other righ
73、ts regarding minerals,hydrocarbons and other natural resources in Albania or from information related to these rights,are taxed in Albania.Capital losses.Capital losses are not deductible for tax purposes.18 albaniaDeductible expenses.In general,the gross amount of income is subject to tax and deduc
74、tions do not apply.However,tax residents can claim deductions for the following expenses:Interest on bank loans used for the education of the individual and/or his or her dependent family members Health care expenses for medical treatment that are not covered by health insurance for the individual a
75、nd/or his or her depen-dent family membersRatesEmployment income.Salaries and compensation relating to employment are taxed at the rates set forth below.A 0%rate applies to salaries up to ALL40,000.The following tax rates apply to salaries up to ALL50,000.Monthly taxable income Tax rate Tax due Cumu
76、lative tax due ALL%ALL ALLFirst 30,000 0 0 0 Next 20,000 6.5 1,300 1,300 The following tax rates apply to salaries above ALL50,000.Monthly taxable income Tax rate Tax due Cumulative tax due ALL%ALL ALLFirst 30,000 0 0 0 Next 170,000 13 22,100 22,100 Above 200,000 23 Other types of income.Albanian re
77、sident entities,government institutions and other specified entities must withhold a 15%tax from all other types of income paid.This tax is considered to be a final tax.These types of income include rent,interest,capital gains,royalties and income from gambling and games of chance.For a discussion o
78、f the types of income subject to tax in Albania,see Income subject to tax.B.Other taxesTax on buildings.The tax on buildings is a tax paid annually by owners or users of buildings.The tax is imposed on all buildings used for residential or business purposes and also applies to buildings under constr
79、uction that have not yet been completed within the time frame stipulated in the construction permit.The following are the tax rates:0.05%of the value of the buildings used for residential pur-poses 0.2%of the value of the buildings used for business purposes 30%of the relevant tax rate for the const
80、ruction surface of buildings under construction that have not yet been completed within the time frame stipulated in the construction permitCertain building categories are exempt from the tax on buildings,including,among others,the following:Public buildings Buildings used for social housing purpose
81、s Buildings used by religious communities Four-and five-star hotels Structures with special status Structures that exercise their activity under a brand name albania 19 Buildings for cultural purposes under temporary or permanent state protection that are used only for nonprofit purposes Buildings f
82、or residential purposes in which a retired person or a person with a social pension resides if the persons family is composed of retired persons or dependents that are incapable of workingTax on hotel accommodations.The tax on hotel accommodations is calculated based on the duration of stay and the
83、category of the lodging.For four-to five-star hotels,the tax on hotel accommo-dations is ALL105 to ALL350 per night per person,depending on the hotel location;for bed and breakfasts,dormitories,and motels,the tax is ALL35 to ALL140 per night per person,depending on the location of the lodging.Tax on
84、 waste disposal.The tax on waste disposal is determined at the municipality level.It is payable by individuals and legal enti-ties residing or performing economic activity in the municipality.Tax on construction land.Construction land tax is calculated based on the surface of the construction land.D
85、epending on the local government units in which the construction land is located,the tax rates vary between ALL0.14 per square meter to ALL0.56 per square meter,annually,for residential buildings and ALL12 per square meter to ALL20 per square meter,annually,for commercial buildings.Tax on agricultur
86、al land.Annual agricultural land tax is calculated based on the area in hectares of the land.The tax ranges from ALL700 to ALL5,600 per hectare,depending on the category of the land and the municipality in which the property is located.Tax on infrastructure impact.The tax on infrastructure impact is
87、 imposed on new construction works,such as buildings and infra-structure projects.For housing constructions or commercial units,the tax rate on infrastructure impact ranges from 4%to 8%of the selling price per square meter.This category of invest-ments also includes existing buildings conditioned by
88、 the imple-mentation of a concession contract,and commercial and business centers.For the construction of buildings in the tourism or indus-trial sectors,buildings for public purposes and buildings built for personal use,the tax rate ranges from 1%to 3%of the value of the investment for buildings lo
89、cated outside Tirana,while the tax rate ranges from 2%to 4%for buildings located in the munici-pality of Tirana.For infrastructure projects,such as the construction of national roads,ports,airports,tunnels,dams and energy infrastructure,including machinery and equipment for these projects,the tax on
90、 infrastructure impact is 0.1%of the value of the investment,but not less than the cost of the rehabilitation of the damaged infrastructure if such cost is not included in the investment projections.For buildings that are under legalization process,the tax rate on infrastructure impact is 0.5%of the
91、 investment value.The legalization process is provided in the law on legalization of buildings.This law provides to owners of buildings that are built without the permission of the relevant public authorities the right to legalize and register their buildings.The tax rate on 20 albaniainfrastructure
92、 impact for housing constructions in mountainous areas ranges from 0%to 3%of the investment value.The mountainous areas in which such tax is imposed is defined by the relevant Municipality Council.Investments for the construction of four-and five-star hotels and structures that will exercise their a
93、ctivity under a brand name are exempt from the tax on infrastructure impact.Investments for businesses that operate in the field of agriculture as per the instructions in the law on tourism are exempt from this tax.Investments made for the reconstruction,repair and restoration of buildings intended
94、for residential purposes that have been dam-aged as a result of natural disasters are also exempt from this tax.C.Social securityContributions.Employers and employees contribute to a social security fund a percentage of the calculated monthly salary.The total contribution is 27.9%,of which 16.7%is b
95、orne by the employer,and 11.2%is borne by the employee.The contribution consists of a social security contribution of 24.5%(out of which 15%is borne by the employer and 9.5%is borne by the employ-ee)and a health security contribution of 3.4%(out of which 1.7%is borne by the employer and 1.7%is borne
96、 by the employee).This remuneration cannot be lower than the minimum monthly salary set nationally,which is currently ALL32,000.The monthly remuneration is subject to social security contributions up to the maximum monthly salary amount for employed persons,which is ALL141,133.Self-employed persons
97、must pay a health insur-ance contribution of ALL2,176,which is twice the minimum amount of health insurance contributions,calculated as 3.4%of the minimum salary.Totalization agreements.To provide relief from double social security taxes and to assure benefit coverage,Albania has entered into social
98、 security agreements with Austria,Belgium,the Czech Republic,Germany,Hungary,Kosovo,Luxembourg,North Macedonia,Romania and Turkey.D.Filing and payment proceduresThe tax year in Albania is the calendar year.Employers must withhold personal income tax from wages and compensation paid,and they must pay
99、 the withholding tax to the tax administration by the 20th day of the following month.Employers must maintain records of payments in accordance with instructions issued by the Ministry of Finance.Individuals earning income of ALL2 million or more must file a personal income tax return for the preced
100、ing year by 30 April.Income taxed at source must also be declared,but no personal income tax is calculated on such income.Individuals earning income of less than ALL2 million do not have a legal obligation to submit the personal income tax declaration.They may do so if they want to benefit from the
101、expense deduction scheme.However,individuals who are earning an income of less than ALL2 million and are employed by more than one employer must submit the personal income tax albania 21declaration for the preceding year by 30 April.They must calculate their income tax on the total income earned,ded
102、uct the already paid income tax by the employers,and pay the income tax on the difference between the income tax calculated and the income tax paid by the employers.E.Double tax relief and tax treatiesTax treaties.Albania has entered into double tax treaties with the following jurisdictions.Austria
103、Ireland Poland Belgium Israel Qatar Bosnia and Italy Romania Herzegovina Korea(South)Russian Bulgaria Kosovo Federation China Mainland Kuwait Serbia Croatia Latvia Singapore Czech Republic Luxembourg*Slovenia Egypt Malaysia Spain Estonia Malta Sweden France Moldova Switzerland Germany Montenegro Tur
104、key Greece Netherlands United Arab Hungary North Macedonia Emirates Iceland Norway United Kingdom India*This treaty is not yet effective.Foreign tax credit.Resident taxpayers may credit the foreign income tax paid in other countries on the income realized in such countries.The amount of the foreign
105、tax credit may not exceed the amount of Albanian tax regarding such income.F.Entry visasAlbania issues the following temporary visas:Type A visas,which are transit visas permitting a visit or transit passage.Holders of transit visas may not undertake employ-ment or engage in profit-seeking activitie
106、s.Type C visas,which allow the holders to stay in Albania up to 90 days in a 180-day period.Type D visas,which are issued to individuals who are planning to stay in Albania for more than 90 days within a 180-day period and who plan to apply for a residence permit.Such visas can be issued for the pur
107、poses of work,study,humanitarian activities or family reunion,or to science researchers,sports players,athletes,investors navigation crews or certain others.The following types of persons can enter,stay and travel through Albania up to 90 days within a 180-day period without a visa:EU and Schengen a
108、rea citizens Citizens of countries exempted from the Schengen visa require-ment as a result of the liberalization of the visa regime Holders of a valid multi-entry Schengen,UK or US visa Holders of a valid residence permit in one of the Schengen member states Citizens of countries with which Albania
109、 has entered into inter-national agreements,such as citizens of Armenia,Azerbaijan,22 albaniaBelarus(citizens of Belarus may enter Albania without a visa and stay up to 90 days within a calendar year),China Mainland,Kazakhstan,Kosovo,Serbia,Turkey and Ukraine Citizens of certain jurisdictions,such a
110、s Bahrain,Belarus,India,Oman,Qatar,Saudi Arabia and Thailand,for the period of 20 April 2022 through 31 December 2022 Citizens of Egypt and the Russian Federation for short-term stay,from 1 May 2022 until 30 September 2022 Citizens who have a 10-year residence permit,issued by the competent authorit
111、y of the United Arab Emirates,valid not less than one year from the moment of entry Other persons,based on the principle of reciprocity as enacted by a Council of Ministers decisionG.Work certificates and permitsThe Ministry of Finance is in charge of the policies for the employment of foreign citiz
112、ens.Work permits are issued to for-eigners by local institutions(labor office,immigration sector)and the Directory of Immigration Issues.Foreigners must apply for either a work permit or a certificate of exemption from the work permit.Citizens of the EU,Schengen area and western Balkan countries are
113、 exempt from the obliga-tion to apply for a work permit but should apply for a certificate of exemption from the work permit.Certificate of exemption from the work permit.The certificate of exemption from the work permit is issued to citizens of the EU and Schengen area and of the western Balkan cou
114、ntries.It has declarative purposes since citizens from these countries have equal rights with Albanian citizens in the employment sector.The certificate of exemption from the work permit is issued within seven days.To obtain the certificate,the following documents must be submitted:Application form
115、Copy of the passport Individual employment contract or secondment contract between the foreign entity,the local entity and the individual employee Proof of accommodation If the above documents are filed by proxy,the relevant power of attorneyWork permit.The work permit can vary depending on the type
116、 of economic activity that the foreigners will perform in Albania.Type A/P work permits are issued to employees who have legally entered Albania,fall in the list eligible for this type of permit and have regular employment contracts.Type A/P work permits are issued for the following terms:One-year t
117、erm for the first application Two-year term,renewable two consecutive times Permanent term,after the expiration of the second two-year term for the work permitTo obtain a Type A/P work permit,the following documents must be submitted:Application form albania 23 Passport(expiration date at least thre
118、e months after the visa expiration date)Copy of passport information regarding generalities and other important information Individual employment contract or secondment contract between the foreign entity,the local entity and the individual employee Registration certificate(court decision or company
119、 extract from National Business Center)of the employer If the above documents are filed by proxy,the relevant power of attorney Five passport-size pictures Receipt for fee paymentH.Residence permitsForeign citizens who plan to stay in Albania for more than 90 days within a 180-day period and who hav
120、e entered Albania with a Type D visa or without a visa can apply for a residence permit.The duration of a residence permit may be three months,six months,one year,two years or five years,or the permit may be permanent.Residence permits with the first three periods of duration can be renewed up to fi
121、ve consecutive times.The two-year residence permit may be renewed only one time.Foreigners may apply for a permanent residence permit if they have had a legal residence in Albania for five consecutive years and have a permanent activity.To obtain a residence permit,the following documentation must b
122、e submitted:Application form Passport(valid for at least three months after the expiration date of the visa)Copy of passport information regarding generalities and other important information Criminal Records Clearance of the individual extracted in the last six months for certain types of residence
123、 permits only Rent or purchase contract for an apartment or house in Albania Personal/Family Certificate translated in Albanian,released in the last six months Three passport-size pictures Declaration from the host or employer about the purpose of stay Photocopy of the work permit or the professiona
124、l license Health insurance certificate for Albania Medical report(for citizens of and coming from countries affected by epidemics)Fee payment receiptI.Personal and family considerationsMarital property regime.The marriage property regime is based on the concept of common ownership,which means that p
125、roperty acquired after the marriage is deemed to be in joint ownership,unless otherwise agreed between spouses.The law distinguishes the separate property from the joint property of spouses even after the marriage.The following is considered separate property:Property that belongs to the spouse befo
126、re the marriage and remains his or her property Property acquired during marriage through inheritance,dona-tion or other forms of legal acquisition24 albaniaJoint property is the property and income acquired through work during the course of the marriage,and the spouses are considered to be joint ow
127、ners in equal share unless otherwise provided in a written agreement in accordance with the requirements of the law.Forced heirship.Albanian succession law provides for forced heir-ship for children under the age of 18 and disabled dependents.Drivers licenses.Expatriates with valid residence permits
128、 may drive legally in Albania with their home-country drivers licenses if their home-country licenses are valid and if the expatriates are not resident in Albania for more than one year.If the drivers license does not comply with the form provided by international agreements,such license must be acc
129、ompanied by an official translation of the license into Albanian.Holders of a valid drivers license issued by an EU country,Canada and other countries that have signed a mutual agreement with Albania or that have signed the conventions and agreements of the United Nations on drivers licenses may con
130、vert their drivers license in Albania without any prior test.25A GMTEY Algeria Advisory Oriental Business Park Quartier des affaires,Bab Ezzouar AlgiersAlgeriaExecutive and immigration contactsBruno Messerschmitt+33 6 84-02-72-51,+213 770-258-980 (resident in Paris)Email:bruno.messerschmitt ey-Halim
131、 Zaidi+213 770-825-235 Email:A.Income taxWho is liable.Individuals who are tax resident in Algeria are sub-ject to income tax on their worldwide income.Individuals who are not tax resident in Algeria are subject to tax on their income from Algerian sources.The following individuals are considered to
132、 be tax resident in Algeria:Individuals who are owners or beneficial owners of a home in Algeria Individuals who are tenants in Algeria with a rental term of a continuous period of at least one year,whether by single or by successive agreements Individuals who have their place of principal residence
133、 or the center of their main interests in Algeria Individuals working in Algeria,regardless of whether they are paid Agents of the Algerian government who serve at a mission in a foreign country and who are not subject in the foreign country to a personal tax on all of their incomeIncome subject to
134、taxEmployment income.Employment income is included in annual taxable income.It includes salaries,wages,pensions,life annui-ties and benefits in kind,except for certain items,such as food,housing,heating and lighting.Self-employment and business income.Income derived by self-employed individuals is d
135、ivided into the following two categories:Business profits,which are profits derived by individuals from commercial,industrial,artisanal or mining activities Non-market benefits,which are profits derived by individuals from artistic and scientific occupationsThe tax base for self-employed individuals
136、 engaged in activities in the above two categories is computed in the same manner as the tax base for corporations.Taxable income equals the differ-ence between gross income and expenses incurred for the perfor-mance of the activity during the calendar year.26 alGEriaAnnual income below DZD8 million
137、 is subject to the Single Flat Rate Tax(Impt Forfaitaire Unique,or IFU)at the tax rates set forth in Rates.IFU is a single tax that includes personal income tax(impt sur le revenu global,or IRG),value-added tax,corpo-rate tax and the tax on business activity.If net income is DZD8 million or more,it
138、is taxed under the“real regime”at the same rates applicable to employment income(see Rates).Income derived by taxpayers under the category of non-market business is subject to IRG at a rate of 20%.This tax is levied at source.Amounts paid as fees or copyright artist fees to artists who have their ta
139、x residence outside Algeria are subject to IRG through a final 15%withholding tax.However,these fees are not subject to IRG if they are earned by the artists in the context of cultural agreement exchanges,national holidays,festivals,and cultural and artistic events organized by the Ministry of Cultu
140、re.Investment income.Dividend distributions are subject to a final withholding tax at a rate of 15%.Revenues from loans and deposits are subject to an advance pay-ment corresponding to a 10%withholding tax.However,for interest earned on monies deposited in savings accounts of indi-viduals,the follow
141、ing are the withholding tax rates:1%for the portion of interest payments not exceeding DZD50,000(this is a final withholding tax)10%for the portion of the interest payments exceeding DZD50,000(this constitutes a tax credit)Directors fees.Directors fees are fees paid to directors of com-panies as com
142、pensation for the performance of their functions.Directors fees are considered distributions of income.Consequently,they are subject to a final withholding tax at a rate of 15%.Taxation of employer-provided stock options.The Algerian Direct Tax Code does not contain any specific measures relating to
143、 the taxation of stock options granted to employees.Capital gains.The taxation of gains derived from the transfer of capital assets depends on whether the assets are short-term or long-term assets.Capital assets are considered long-term assets if they have been held more than three years.Thirty-five
144、 percent of gains on long-term assets are included in taxable income.Capital assets that are not long-term assets are considered short-term assets.Seventy percent of gains on short-term assets are included in taxable income.Capital gains on share transfers are subject to a final withholding tax at a
145、 rate of 15%for residents.The rate is 20%for nonresi-dents,after one-fifth of the capital gain is transferred to the notary.Capital gains on share transfers for residents are exempt from tax if the amount is reinvested(company contribution or purchase of shares of another company).Capital gains are
146、exempt from IRG if they are derived from the sale of bonds,securities and Treasury bonds that are listed in the stock exchange or traded on a regulated market and that have a alGEria 27minimum term of five years and are issued during the five-year period beginning on 1 January 2014.DeductionsPersona
147、l deductions and allowances.Taxpayers may deduct cer-tain expenses from employment income including social insur-ance contribution,support payments and insurance premiums paid as an owner or lessee.Business deductions.Business deductions include depreciation and general expenses incurred for busines
148、s purposes.Depreciation of business assets is deductible if it is recorded annually in the accounts and relates to assets shown in the balance sheet.The depreciation rates vary according the nature of the activity in which the assets are used.Other deductions.After the net income for each category o
149、f income is aggregated,the following expenses are deductible:Interest paid on loans obtained by a taxpayer for a business purpose or the acquisition or construction of a principal home Contributions paid by a taxpayer for a retirement pension or social insurance Alimony Insurance policy concluded by
150、 a landlordRates.The following are the progressive IRG rates in Algeria,which apply to the income of physical persons(for example,employment income):Monthly taxable income(DZD)Rate(%)0 to 20,000 0 From 20,001 to 40,000 23 From 40,001 to 80,000 27 From 80,001 to 160,000 30 From 160,001 to 320,000 33
151、From 320,001 35The monthly taxable base is subject to a reduction of 40%(first tax relief)with a minimum per month of DZD1,000 and a maxi-mum of DZD1,500.Since the enactment of the 2020 Complementary Finance Act,monthly income below DZD30,000 is completely exempt from IRG.Monthly income from DZD30,0
152、00 to DZD35,000 benefits from a second tax relief as follows:IRG=(IRG after applying the first tax relief)x(137/51)(27,925/8)All bonuses paid by the employer on a non-monthly basis are subject to a reduced rate of 10%.For this purpose,non-monthly bonuses include amounts paid to employees in addition
153、 to the amounts paid to them for their principal activities.Self-employment and business income below DZD8 million is subject to IFU at the following rates:Income from production activities and sales of goods,and income derived in the context of a distribution channel of goods and services via digit
154、al platforms or via direct network sales are subject to tax at a rate of 5%.Income from other activities is subject to tax at a rate of 12%.28 alGEriaRelief for losses.In general,losses incurred in business and agri-cultural activities may be carried forward for four years to offset profits from the
155、 same category.Nonresidents.Individuals who are not tax resident in Algeria are subject to tax on their Algerian-source income.The types of income considered to be Algerian-sourced include the following:Income from Algerian real estate and related rights Income from Algerian securities and capital a
156、ssets Income from business carried out in Algeria Income from professional activities(including self-employment)carried out in Algeria Profits derived from Algerian real estate operationsThe following types of income are also considered Algerian-source income if the payer of the income is resident f
157、or tax pur-poses or established in Algeria:Pensions and annuities Amounts paid as compensation for services provided or used in Algeria Income received by inventors,income from copyrights,and income from intellectual or commercial property and related rightsB.Other taxesTax on donations.Donations ar
158、e taxable on the basis of the value of donated property.The tax rate is 5%,with a preferential rate of 3%for donations between parents,children and spouses.The same rate applies to the fixed assets of a company that heirs agree to continue operating.This tax does not apply to donations to non-family
159、 members.Donations other than those of a humanitarian nature are not deductible from the taxable base for personal income tax.Wealth tax or net worth tax.Individuals who are tax resident in Algeria are subject to wealth tax on their property located in Algeria and abroad.Individuals who are not tax
160、resident in Algeria and,based on elements of their lifestyle,individuals whose tax residence is in Algeria and who do not own property are subject to wealth tax on their property located in Algeria.The tax is assessed on 1 January of each year.The following are the rates of the wealth tax.Taxable ne
161、t value Exceeding Not exceeding Rate DZD DZD%0 100,000,000 0.00 100,000,000 150,000,000 0.15 150,000,000 250,000,000 0.25 250,000,000 350,000,000 0.35 350,000,000 450,000,000 0.50 450,000,000 1.00Property taxDeveloped properties.The property tax is payable annually on buildings located in Algeria,ex
162、cept those that are specifically alGEria 29exempt.Facilities also subject to this tax include,but are not limited to,the following:Facilities to house people and goods,or to store products Commercial facilities within the perimeters of airports,port terminals and railway and bus stationsThe tax rate
163、 for buildings is 3%.However,a 10%rate applies to buildings for residential use that are not employed in a personal or family capacity as a rental in areas to be determined by regulation.The following are the tax rates for land considered dependency property(land attached to the building property):5
164、%if the size is less than or equal to 500 square meters 7%if the size is greater than 500 square meters and not more than 1,000 square meters 10%if the size is greater than 1,000 square metersUndeveloped properties.Property tax is imposed annually on all undeveloped properties,except those that are
165、specifically exempt.The tax base is the tax rental value of the property.The tax rate is 5%for undeveloped properties located in non-urbanized areas.For urbanized land,the following are the tax rates:5%if the land size is less than or equal to 500 square meters 7%if the land size is more than 500 sq
166、uare meters and less than or equal to 1,000 square meters 10%if the land size is greater than 1,000 square metersThe rate is 3%for agricultural land.For properties located in urbanized or urbanizing areas on which construction has not begun in three years,the normal property tax rate is multiplied b
167、y four.C.Social securityThe social security regime depends on the nature of the activity carried out by the person.Two possible regimes are applicable.One regime is for employees and the other is for non-employee persons(trade or managing activities).Employees activity.Social security contributions
168、for employees are based on gross compensation paid,including fringe benefits and bonuses.Some benefits paid on an exceptional basis can be exempt from social security contributions under certain circum-stances.Contributions.Employer contributions are paid,and employee contributions are withheld mont
169、hly.The following are the rates of the social security contributions:Employers:25%Employees:9%Employers must make an additional 1%contribution for the funds for social action.Coverage.All foreign workers from countries with which Algeria has entered into social security agreements(Belgium,France and
170、 30 alGEriaTunisia)who are pursuing an activity in Algeria while maintain-ing an employment contract with their employers abroad may elect to be subject to the social security system of their home countries and be exempt from social security contributions in Algeria.To implement this election,the em
171、ployer must give a copy of a certificate of coverage(certificat de dtachement)to the employee,who then submits it to the national social security fund(Caisse Nationale des Assurances Sociales,or CNAS).An additional specific social security regime called the National Fund for Paid Leave and Unemploym
172、ent of Bad Weather of Building,Public Works and Water Sectors(La Caisse Nationale des Congs Pays et du Chmage-Intempries des Secteurs du Btiment,des Travaux Publics et de lHydrolique,or CACOBATPH)applies to companies operating in the building,public works and hydraulic sectors.The rate of this contr
173、ibution is fixed at 12.96%.Non-employees activity.Persons carrying out non-employees activities in Algeria are required to register for the social security regime called the National Social Security Fund of Non-Employees(Caisse Nationale de Scurit Sociale des Non-salaris,or CASNOS).The contribution
174、is based on the annual revenue.Contributions.Contributions are paid on an annual basis.The applicable rate is 15%.The minimum contribution is DZD32,400,and the maximum contribution is DZD648,000.Totalization agreements.Algeria has entered into social security agreements with Belgium,France and Tunis
175、ia.D.Tax filing and payment proceduresThe Algerian tax law provides for monthly,quarterly and annual tax returns.The monthly tax return(G50)applies only to businesses under the real regime.This tax return must be filed by the 20th day of each month.All businesses must file an annual tax return by 30
176、 April of each year.By 30 April of each year,each employer must file an annual tax return related to IRG on salaries withheld and remitted to the tax authorities in the preceding year.Algerian tax residents who derive personal income in addition to their remuneration must file an annual tax return(G
177、1)by 30 April of each year.E.Double tax relief and tax treatiesAlgeria has entered into double tax treaties with the following jurisdictions.Austria Indonesia Russian Federation Bahrain Italy Saudi Arabia Belgium Jordan South Africa alGEria 31Bosnia and Korea(South)Spain Herzegovina Kuwait Switzerla
178、nd Bulgaria Lebanon Turkey Canada Mauritania Ukraine China Mainland Netherlands United Arab Egypt Oman Emirates France Portugal United Arab Germany Qatar Maghreb*Iran Romania United Kingdom*The United Arab Maghreb consists of Algeria,Libya,Mauritania,Morocco and Tunisia.F.Entry and tourist visasEntr
179、y visas are required for nationals of the European Union(EU),United States and certain Arabic countries,such as Egypt.Tunisian nationals are not required to have entry visas.Algerian embassies or consulates can provide information regarding the documents necessary for the obtaining of a tourist visa
180、.Foreign nationals who wish to enter Algeria for a period not exceeding 15 days can enter with a business visa.This visa allows the holding of meetings(internal or with clients)but not the provision of services.Foreign nationals who wish to work in Algeria under a contract that has a duration of les
181、s than three months must obtain a tem-porary work authorization.It can be renewed once in a year.Under Article 9 of Law No.81-10,a foreigner who is assigned to Algeria for a duration of less than 15 days(with an accumulated duration not exceeding three months in the year)to perform exceptional work
182、does not require a temporary work authoriza-tion.However,a temporary work visa is always required.To obtain the visa,the foreign national must justify his or her work in Algeria.Foreign nationals who wish to work in Algeria for a duration that exceeds three months must obtain a work visa and work pe
183、rmit.A work permits validity may not exceed two years,but it is renewable.French nationals benefit from a special regime.They need to obtain a foreign worker declaration instead of a work permit(but it has the same delivery procedure).A foreign worker working as a managing director(that is,not as an
184、 employee)of an Algerian entity is exempt from the work per-mit requirement but needs a business professional card and,in some circumstances,a residence card as well.G.Residence cardForeigners who are intending to extend their stay in Algeria beyond the duration specified in the visa must request a
185、residence card 15 days before expiration of the visas validity.This card is valid for two years.A residence card with a validity of 10 years can be issued after a regular residency of 7 years in Algeria.32 alGEriaThe application form for the residence card must be sent to the local police office.H.F
186、amily and personal considerationsFamily members intending to reside with a working expatriate in Algeria can benefit from family reunification.33A GMT+1EY Presidente Business Center Largo 17 de Setembro,No.3 3rd Piso Sala 341 Luanda AngolaExecutive contactsMilton Chantre Melo+244 936-725-788 Email:R
187、ui Henriques+244 927-561-851 Email:Anabela Silva+351 936-079-620 Email:Law No.18/14 of 22 October 14 contains the Personal Income Tax Code,which entered into force on 1 January 2015.The Personal Income Tax Code has been subject to amendments through Law No.9/19 of 24 April 2019,Law No.28/19 of 25 Se
188、ptember 2019 and Law No.28/20 of 22 July 2020.Because of the COVID-19 pandemic,temporary measures regarding visas have been put in place.As a result,readers should seek professional advice before traveling to Angola.A.Income taxWho is liable.Individuals receiving work-related income and/or business
189、and professional income in Angola are subject to per-sonal income tax if the compensation is paid by an Angolan entity or if the respective cost of such income is allocated to an entity with a head office,residence or permanent establishment in Angola.Angola applies a pure source-based system for in
190、di-vidual taxation.Groups of taxation.The Personal Income Tax Code provides for the three following groups of taxation:Group A:Income derived from employment and paid by employers under the General Labor Law or civil servants regime,as well as remuneration earned by members of statu-tory boards Grou
191、p B:Income derived from self-employment(related to the activities included in the list attached to the Personal Income Tax Code,which was expanded by Law No.9/19 and Law No.28/20)Group C:Income derived from industrial and commercial activitiesIncome subject to taxGroup A Employment income.Taxable in
192、come includes all income considered to be salaries,commissions,fees,gratifica-tions(broadly,these are bonuses not included in base salary that reward employees for good performance),allowances,premiums,34 anGola allowances or ancillary forms of remuneration,such as payments in kind.These types of in
193、come are subject to tax,regardless of whether they are attributed to a contractual obligation and regard-less of their frequency or computation method.In addition,the following types of income are also subject to tax:Shortage allowances,daily entertainment allowances and travel allowances Remunerati
194、on paid to shareholders as compensation for work performed for the company Remuneration of a companys statutory board members Undocumented asset increases and expenses Remuneration payments by political parties and other organiza-tions with a socio-political purposeThe following types of income are
195、not included in taxable income for personal income tax purposes:Social payments made by the National Social Security Institute Shortfall allowances(per diem,representation,travel and dis-placement allowances attributed to civil servants)not exceed-ing the limits established for public officials Fami
196、ly allowances Social security contributions Subsidies paid to national citizens with disabilities Daily allowances,for meals,up to AOA30,000 Daily allowances for transportation,up to AOA30,000 Reimbursement of expenses incurred by employees of entities subject to corporate income tax,if documented a
197、s per the Corporate Income Tax Code and ancillary diplomas(Legal Regime for Invoices and Equivalent Documents)and the Angola General Tax CodeGroup B Self-employed income.Self-employed individuals are taxed on 100%of their income if they do not have organized accounting records.For individuals with o
198、rganized accounting records,a deduction from taxable income can be made up to 30%of the costs incurred.Income that is paid by corporate entities or individuals with organized accounting records(subject to with-holding tax)can be deducted from the total taxable base.Group C Industrial and commercial
199、activities income.Taxpayers with organized accounting records can assess the tax-able base considering the rules applicable to the corporate income tax.If Group C taxpayers do not have accounting records,no deductions from the taxable income can be made.Rates.Income tax rates applicable to taxable e
200、mployment income derived by residents and nonresidents are set forth in the follow-ing table.Taxable income Tax on lower Rate on Exceeding Not exceeding amount excess AOA AOA AOA%70,000 0 70,000 100,000 3,000 10 100,000 150,000 6,000 13 150,000 200,000 12,500 16 200,000 300,000 31,250 18 anGola 35 T
201、axable income Tax on lower Rate on Exceeding Not exceeding amount excess AOA AOA AOA%300,000 500,000 49,250 19 500,000 1,000,000 87,250 20 1,000,000 1,500,000 187,250 21 1,500,000 2,000,000 292,250 22 2,000,000 2,500,000 402,250 23 2,500,000 5,000,000 517,250 24 5,000,000 10,000,000 1,117,250 24.5 1
202、0,000,000 2,342,250 25For income subject to withholding tax assessed to Group B and Group C taxpayers,the withholding tax rate is 6.5%.Income not subject to withholding tax assessed to Group B and Group C taxpayers is liable to tax at a rate of 25%.Income earned by nonresident service providers cove
203、red by Group B or Group C is subject to withholding tax at a 6.5%rate.B.Other taxesInheritance and gift tax.Inheritance and gift tax is payable by heirs and donees.This tax is levied on gratuitous transfers of movable assets and rights located or transferred in Angola.Tax rates range from 10%to 30%,
204、depending on the value of the estate or the gift and on the relationship of the heir or donee to the deceased person or donor.Property tax on rent income.Property tax is payable annually by the beneficiary of rental income from rented property or by the owner,usufructuary or beneficiary of surface r
205、ights of unrented property.The tax is imposed at the following rates:25%of 60%(which results in a final rate of 15%)of the rental income from Angolan rented property 0.5%of the patrimonial value of unrented properties(proper-ties valued above AOA6 million)AOA5,000 for properties with patrimonial val
206、ue more than AOA5 million to AOA6 millionValue-added tax.Value-added tax(VAT)follows the assessment/deduction mechanism used in European Union(EU)countries,with a standard rate of 14%,except for certain VAT reduced rate(5%)and zero-rated items(specific basic goods).Property transfer tax.Property tra
207、nsfer tax is levied at rate of 2%with respect to transfers of immovable property,including long-term leases(20 years or more).Stamp duty at a rate of 0.3%also applies to these transactions.C.Social securitySalaries and additional remuneration specified under the law are subject to social security co
208、ntributions.No ceiling applies to the amount of remunerations subject to social security con-tributions.The rates of the contributions are 8%for employers and 3%for employees.36 anGola Employees working transitorily in Angola are not required to make social security contributions if they can prove t
209、hat they are covered by the social security system in another country.Self-employed persons are subject to social security contribu-tions based on a predefined monthly notional salary.The rate of the contributions is 8%,but it may be increased to 11%if addi-tional benefits are covered.D.Tax filing a
210、nd payment proceduresThe fiscal year in Angola is the calendar year.Self-employed individuals must file tax returns in March(Group B and Group C)following the tax year end.Income taxes on employees are withheld by the employer under a Pay-As-You-Earn system,and employees are not required to file ret
211、urns.The employer must file,by the end of February of the year following the tax year,a tax return,indicating the name and per-sonal details of the employees,their remuneration and corre-sponding taxes withheld.Tax on income from capital is generally withheld by the payee entity,unless the entity is
212、 not resident or established in Angola.Otherwise,the income recipient is responsible for paying the tax.Landlords must also file Property Tax Form M/1 in January.Payments(whenever the rents are not subject to withholding tax)must be made in two installments,which are payable in January and July.Alte
213、rnatively,a request may be presented to the tax administration to make the payments in four installments,which are payable in January,April,July and October.E.Tax treatiesAngola has double tax treaties with Portugal and the United Arab Emirates.A double tax treaty entered into with China Mainland wi
214、ll enter into force on 1 January 2023.There are mechanisms in place for the treaties to be applied,namely the legal forms that must be completed by the tax administration in Angola,as well as the forms required to nominate a fiscal representative in Angola.F.VisasLaw No.13/19,of 23 May 2019,contains
215、 the new legal regime for foreign nationals in Angola.This new law revoked the prior Law No.2/07 of 31 August 2007.In June 2020,the regulation for Law No.13/19 was approved by Presidential Decree No.163/20,of 8 June 2020,which revoked the prior Presidential Decree No.108/11,of 25 May 2020.In line wi
216、th the new legal regime for foreign nationals in Angola,various types of visas may be granted to foreign nationals who intend to come to Angola.The type of visa depends on the reason and period of stay.The most common visas of which foreign nationals should be aware are described below.The former Or
217、dinary Visas,which were originally granted to foreign nationals for business or family reasons,were replaced by Tourism Visas,which were already in place for other reasons.anGola 37Under the new regime,the Tourism Visas are granted by Consular Missions at the applicants country of origin or residenc
218、e,for business prospection or family reasons and for engaging in scien-tific and technologic activities,as well to those foreign nationals who intend to stay in Angola for recreational,sporting or cultural activities.Tourism Visas allow its holder to stay in the country for 30 days,extendable twice
219、for the same time period.Tourism Visas do not allow their holders to perform remunerated activi-ties in the country,for which a Work Visa is required,or apply for residence.Short-Term Visas are granted for urgent reasons,allowing its holder to stay in the country for 10 days,extendable once in Angol
220、a.Some countries have their own specificities regarding Short-Term Visas.Short-Term Visas do not allow their holders to perform remunerated activities in the country,for which a Work Visa is required,or apply for residence.Investor Visas,which replaced the Privileged Visas,are granted to foreign inv
221、estors,representatives or proxies of investing com-panies to implement and execute investment projects in Angola,under the Private Investment Law.Investor Visas are issued for multiple entries for two years and are extendable for the same time period while the investment project is being implemented
222、.Under the new regime,these visas are granted by the authorities in Angola.Temporary Stay Visas,which are granted for 365 days,extend-able for the same time period,until the end of the term of the reason that justified the visa,may be granted in the following circumstances:To accomplish missions wit
223、hin religious institutions or within nongovernmental organizations For scientific research,mobility or university extension To family members of study,medical treatment and work visa holders To family members of holders of valid residence permits To spouses of Angolan citizensG.Work VisasThe appropr
224、iate visa allowing a foreign national to undertake remunerated activities in Angola is the Work Visa.The Work Visa is granted for 365 days,extendable for equal time periods until the end of the term of the employment agreement that justified the visa.In general,the Work Visa must be applied for at t
225、he Angolan Consulate or Embassy in the applicants country of origin or residence.Before applying for a Work Visa,a favorable opinion from the entity overseeing the sector of activity in Angola is required.The Work Visa does not allow its holder to establish residence in Angola.H.Residence visas(and/
226、or permits)Residence permits are granted to foreign nationals that intend to establish residence in Angola,provided that they meet the requirements imposed by the Angolan law.The application for a 38 anGola residence permit may include spouses,underage children and any dependents of the applicant wh
227、o have disabilities.The following residence permits may be granted:A Temporary Residence Card,granted to foreign nationals with authorization to establish residence in Angola.It allows the holder to establish residence for two years and is extendable for equal time periods.A Permanent Residence Card
228、,granted to foreign nationals resi-dent in the country for more than 10 consecutive years.It is valid for five years and is extendable for equal time periods,without limitation.39A Aires GMT-3Pistrelli,Henry Martin y Asociados SRL 25 de Mayo 487 Fourth Floor C1002ABI Buenos Aires ArgentinaExecutive
229、contactsJavier Sabin+54(11)4318-1658 Fax:+54(11)4318-1777 Email:Elizabet Lozada+54(11)4510-2201 Fax:+54(11)4318-1777 Email:Valeria Dworski+54(11)4318-1623 Fax:+54(11)4318-1777 Email:Valeria Kissling,+54(11)4318-1668 Global Mobility Fax:+54(11)4318-1777 Email:Mayra Celentano,+54(11)4318-1242 Global M
230、obility Fax:+54(11)4318-1242 Email:Lucio Sabena,+54(11)4318-1669 Global Mobility Fax:+54(11)4318-1777 Email:Maria Folmer,+54(11)4318-1638 Global Mobility Fax:+54(11)4318-1777 Email:Elsa Vidal,+54 11 4318-1600 ACR Global Payroll Operations Fax:+54(11)4318-1777 Email:Sebastian Calciati,+54(11)4318-166
231、5 ACR Global Payroll Operations Fax:+54(11)4318-1665 and Labor and Employment Law Email:Paula Mandrafina,+54(11)4318-1665 Labor and Employment Law Fax:+54(11)4318-1665 Email:Nicolas Nigrelli,+54(11)4318-1665 Labor and Employment Law Fax:+54(11)4318-1600 Email:Immigration contactAnabel Ragno+54(11)48
232、75-4842 Fax:+54(11)4318-1777 Email:A.Income taxWho is liable.Residents are subject to tax on worldwide income.Nonresidents are taxed on Argentine-source income only.The following individuals are deemed to be resident in Argentina:Native and naturalized Argentine citizens40 arGEnTina Foreign individu
233、als who are granted permanent residence in Argentina Foreign individuals who remain in the country under temporary authorization for a period of 12 months or longerIndividuals in the third category who have not been granted per-manent residence are deemed to be nonresident if they can prove that the
234、y do not intend to stay permanently in Argentina.Foreign individuals who can prove that they are in Argentina because of their employment,and who remain in the country for a period not exceeding five years,are not considered to be resi-dent in Argentina.This rule also applies to members of the indi-
235、viduals family who accompany the individual to Argentina.Income subject to tax.The taxability of various types of income is discussed below.Employment income.Taxable income from employment includes all salaries,regardless of the taxpayers nationality or the place where the compensation is paid or th
236、e contract is concluded.In general,taxable compensation also includes most employer-paid items,except the following main items:Moving expenses Overtime worked on Saturday(after 1:00 p.m.),Sunday and/or holidays Severance payments,except when the employee has held posi-tions of manager or director in
237、 the last 12 months and his/her gross monthly salary taken for the calculation base of severance payment exceeds at least 15 times the Minimum,Life and Mobile salary(in Spanish,SMVM)in force at the date of sepa-rationEducational allowances provided by employers to their local or expatriate employees
238、 children who are 18 years old or under are taxable for income tax and social security purposes.Monthly gross employment income that is less than ARS280,792 is exempt from income tax.Self-employment income.Self-employment and business income is taxable,regardless of the recipients nationality,the pl
239、ace of payment or where the contract was concluded.Investment income.If a company pays a dividend in excess of its accumulated taxable income,the excess is subject to a final with-holding tax at a rate of 35%.This tax applies to dividends derived from income accrued in fiscal periods beginning befor
240、e 1 January 2018.Under the December 2017 tax reform,withholding tax is imposed on dividends distributed by Argentinian companies to Argentinian individuals and foreign shareholders at a rate of 7%.The tax operates as a“sole and definitive tax payment.”It is imposed in addition to the 35%equalization
241、 tax described above.Dividends from foreign corporations paid to residents are taxable at regular tax rates.Royalties and income derived from renting real property are taxed as ordinary income.arGEnTina 41Interest is taxed as ordinary income,except interest from certain bank deposits in Argentina,su
242、ch as saving accounts,which is exempt from tax.Interest from bank deposits paid to nonresidents is exempt from Argentine tax only if the income is also exempt from foreign tax.For residents and nonresidents,interest derived from term deposits in Argentinean pesos,public bonds(government securities,t
243、rea-sury bills and others),corporate bonds,mutual funds and other securities issued by Argentina are exempt from tax.However,inter-est derived from term deposits in dollars allocated in Argentina is taxable for residents at the progressive income tax rates(5%to 35%)and for nonresidents(the 35%rate w
244、ill apply to 43%of the collected interest).Under Section 90.5(Schedular Tax)of the Income Tax Law,gains derived from the sale of real estate purchased on or after 1 January 2018 are taxable at a rate of 15%.However,if the property is the taxpayers home,the sale is exempt from tax.Directors fees.Dire
245、ctors fees are taxed as self-employment income to the extent that they are deducted by the payer company(allowable up to the greater of 25%of book profit or ARS12,500 per director per year).The portion of fees not deductible at the corporate level is not taxable to the director if the amount of the
246、companys income tax increases by an amount equal to the tax attributable to the directors fees.Directors fees paid by Argentine companies are considered Argentine-source income,regardless of where the services are performed.Taxation of employer-provided stock options.Stock options grant-ed to employ
247、ees are deemed to be payments in kind and are there-fore subject to income tax and social security withholding.Income related to stock options becomes taxable when the option is exercised.No tax is imposed at the time of grant or vesting,and the employees are not required to pay income tax with resp
248、ect to stock options at such time.Capital gains.An exception applies for shares that are traded in an Argentinian stock market(authorized by the Argentine Securities and Exchange Commission).Capital gains on such shares are exempt.Otherwise,if the capital gains arise from the sale of shares that are
249、 not traded on an Argentinian stock market,they are subject to income tax at a flat tax rate of 15%.Capital gains obtained by tax residents from shares of foreign companies are taxable at a flat rate of 15%.The taxable profit equals the difference between the sales price and the purchase price in fo
250、reign currency,based on the exchange rate at the time of the sale,while the exchange-rate difference between the time of the purchase and sale is considered to be nontaxable.Capital gains on Argentinian securities and sponsored American Depositary Receipts(ADRs)from Argentinian companies are exempt
251、for foreign investors,provided that they do not reside in noncooperative jurisdictions and/or the invested funds do not proceed from noncooperative jurisdictions.42 arGEnTina The law establishes an income tax on the indirect transfer of assets located in Argentina.The tax is triggered on the sale or
252、 transfer by nonresidents of shares or other participations in for-eign entities if both of the following two conditions are met:At least 30%of the value of the foreign entity is derived from assets located in Argentina(at the moment of the sale or during the 12 prior months).The participation being
253、 transferred represents(at the moment of the sale or during the 12 prior months)at least 10%of the equity of the foreign entity.The applicable rate is generally 15%(calculated on the actual net gain or a presumed net gain equal to 90%of the sale price)of the proportional value that corresponds to th
254、e Argentine assets.The law provides that the tax on indirect transfers applies only to participations in foreign entities acquired after the effective date of the tax reform,which was 1 January 2018.Also,the law indi-cates that indirect transfers are not taxable to the extent that it can be proved t
255、hat the transfer took place within the same economic group,in accordance with requirements to be established by additional regulations.DeductionsDeductible expenses.For purposes of computing tax to be with-held from an employees salary,employers may deduct certain allowable expenses,including the fo
256、llowing:Mandatory social security contributions Medical insurance payments for employees and their families,with certain limitations 40%of invoiced medical expenses up to a maximum of 5%of the taxpayers annual net income 40%of invoiced expenses for the rental of a house up to an annual nontaxable am
257、ount(generally ARS252,564.84)40%of expenses incurred by traveling salespeople,up to an annual nontaxable amount(generally ARS252,564.84)Donations to the government and certain charitable or non-profit institutions,up to 5%of net taxable income Burial expenses,up to ARS24,000 annually Life insurance
258、premiums,up to ARS24,000 annually Retirement insurance premiums,up to ARS24,000 annually Mortgage interest,up to ARS20,000 annually,for the purchase of a dwelling destined to be a permanent abode Contributions made to Mutual Guarantee Companies(SGRs;special companies that guarantee loans)Compensatio
259、n and employer contributions related to domestic help personnel,up to an annual nontaxable amount(generally ARS252,564.84)Self-employed individuals may deduct expenses incurred in pro-ducing income,in addition to the expenses listed above.Personal deductions and allowances.Employed and self-employed
260、 individuals are entitled to standard deductions in amounts established by law.Employed and self-employed indi-viduals are entitled to standard deductions in amounts established by law.The amounts for 2022 are ARS235,457.25 for a spouse,ARS118,741.97 for each child not older than 18 and arGEnTina 43
261、ARS237,483.94 for a disabled child.To qualify,dependents must reside in Argentina for more than six months in the tax year and must not have income exceeding ARS252,564.84.A deduction of ARS252,564.84 is granted to taxpayers who are resident in Argentina for longer than six months during the calen-d
262、ar year.A special deduction is available against compensation derived from personal services.The annual amount is ARS1,212,311.24 for employees but,under Decree 620/2021,if the employment income is between ARS280,792 and ARS324,182 a higher special deduction applies.For self-employed individuals,the
263、 amount of the special deduction is ARS505,129.66.For“new professionals”and“new entrepreneurs”(to be defined by the Law Regulating Decree),the special deduction is ARS631,412.12.Nonresidents residing in Argentina longer than six months in a calendar year may claim the deductible expenses actually in
264、curred and exemptions available to residents.Rates.The progressive tax rates applicable to Argentine residents for 2022 range from 5%to 35%.The following table presents the 2022 individual income tax rates.Annual taxable income Tax on lower Rate on Exceeding Not exceeding amount excess ARS ARS ARS%0
265、 97,202.00 0 5 97,202.00 194,404.01 4,860.10 9 194,404.01 291,606.01 13,608.28 12 291,606.01 388,808.02 25,272.52 15 388,808.02 583,212.02 39,852.82 19 583,212.02 777,616.02 76,789.58 23 777,616.02 1,166,424.03 121,502.50 27 1,166,424.03 1,555,232.07 226,480.66 31 1,555,232.07 347,011.16 35Nonreside
266、nts residing temporarily in Argentina,that is,for six months or less,are subject to final withholding tax.A standard deduction of 30%of compensation is allowed for expenses incurred in earning income.The remaining 70%of compensation is taxed at a flat rate of 35%,with no other allowable deductions o
267、r exemptions,resulting in an effective withholding tax rate of 24.5%.Relief for losses.Business losses of self-employed persons may be carried forward for five years.Foreign-source business losses may offset foreign-source income only.B.Other taxesTransfer tax.Sales of real estate are subject to tra
268、nsfer tax at a rate of 1.5%on the sale price.This tax only applies to sales of real estate purchased before 1 January 2018.Personal assets tax.Individuals who have total assets subject to tax of up to ARS6 million and/or who have a real estate destined to be their place of living of up to ARS30 mill
269、ion are exempt from the personal assets tax.Individuals who are deemed to be tax resident in Argentina according the definition in the income 44 arGEnTina tax law of Argentina and who have assets totaling more than ARS6 million are required to pay the personal assets tax.The personal assets tax is c
270、alculated using the two tables below.The following table applies to assets located in Argentina.Total value of assets that exceed the nontaxable minimum Tax on lower Rate on Exceeding Not exceeding amount excess ARS ARS ARS%0 3,000,000 0 0.5 3,000,000 6,500,000 15,000 0.75 6,500,000 18,000,000 41,25
271、0 1.00 18,000,000 100,000,000 156,250 1.25 100,000,000 300,000,000 1,181,250 1.5 300,000,000 4,181,250 1.75The following table applies to assets held abroad.Total value of assets that exceed the nontaxable minimum Rate on Exceeding Not exceeding amount ARS ARS%0 3,000,000 0.7 3,000,000 6,500,000 1.2
272、 6,500,000 18,000,000 1.8 18,000,000 2.25 Under the Substitute Taxpayer Regime,nonresident individuals are subject to personal tax on Argentine assets only at a rate of 0.5%.In this case,the minimum of ARS6 million does not apply.Liabilities,other than those incurred for the purchase,construc-tion o
273、r improvement of a taxpayers home,are not deductible for purposes of the personal assets tax.A tax credit is allowed for similar taxes paid abroad.Expatriates residing in Argentina on work assignments for a period not exceeding five years are considered to be nonresidents,and they are taxed only on
274、personal assets located in Argentina,but they are subject to the tax rates from the progressive scale for assets in Argentina.C.Social securityContributions.Social security contributions are paid by employ-ees,employers and self-employed persons.Employees.Employees social security contributions are
275、with-held from their monthly salary.Employees make contributions to the pension fund at a rate of 11%,to the retirees fund at a rate of 3%and to the health care system at a rate of 3%.The maximum monthly tax base for the calculation of these contributions is ARS318,103.83 for January 2022 and Februa
276、ry 2022,ARS357,166.98 from March 2022 to May 2022,and ARS410,742.03 from June 2022 to August 2022.The cap is updated every three months.Monthly salary that exceeds the maximum tax base is not subject to contributions.For this purpose,a year comprises 13 months.arGEnTina 45Employers.Employers pay soc
277、ial security contributions at a rate of 20.4%or 18%,depending on the companys activity and turn-over(amount of sales).A 6%contribution for medical care is required in addition to the social security contributions.For the tax base with respect to employer social security contributions,a minimum nonta
278、xable amount of ARS7,003.68 is applied,but the tax base for employer health care contributions is not capped.Other.No employee or employer social security taxes are payable with respect to directors fees.However,a director must pay fixed monthly amounts that are allocated to the social securitys Sel
279、f-Employed System.The social security tax law provides an exemption for all profes-sionals,researchers,scientists,and technicians who are contracted outside of Argentina to render services in Argentina for a period of not more than two years.The individuals must have a tempo-rary residence,be covere
280、d by the social security system of their countries,and provide evidence of their technical qualifications as well as of their coverage for death,disability and old age in their home countries or countries of residence.This exemption is available only once and,after being granted,it is in force from
281、the date of the application for as long as the conditions for the exemption are met.Totalization agreements.Social security taxes for nonresidents are collected as outlined above.However,both the employer and the nonresident employee may be exempt from contributions to the Argentine pension fund and
282、 health care system if certain conditions are met.To provide relief from double social security taxes and to assure benefit coverage,Argentina has entered into totalization agree-ments with the following countries.Belgium Italy Southern Common Market Chile Luxembourg (Mercado Comn del Sur,Colombia P
283、eru or MERCOSUR)countries Ecuador Portugal (Brazil,Paraguay and France Slovenia Uruguay)Greece SpainArgentina has also entered into the Ibero-American Multilateral Agreement on Social Security,which is in force with respect to Bolivia,Brazil,Chile,Ecuador,El Salvador,Paraguay,Peru,Portugal,Spain and
284、 Uruguay.D.Tax filing and payment proceduresThe tax year for individual taxpayers is the calendar year.Tax returns must be filed between 11 June and 13 June(depending on the taxpayers registration number)of the following year unless the taxpayers only income is from employee compensation.No extensio
285、ns to file tax returns are allowed.National and foreign employees must file an income and per-sonal assets tax return for informational purposes if their gross compensation exceeds ARS3.7 million per year.The deadline for tax returns for informational purposes is 30 June.46 arGEnTina Self-employed t
286、axpayers must register with the tax authorities.Tax returns are filed annually in June,declaring earnings for the previous calendar year.Individuals with non-wage income,including self-employment income,must make advance tax payments bimonthly from August to April,based on the previous years tax.Und
287、er a with-holding system for payments to resident individuals,withholding is imposed at various rates on income exceeding a minimum threshold.Amounts withheld are treated as advance payments.Advance payments are also required for purposes of the personal assets tax(see Section B).For married couples
288、,a wife is taxed separately on income derived from personal activities(including employment,self-employment and business),on assets acquired before marriage and on assets acquired during marriage with income earned from personal activities.Nonresidents subject to the 35%withholding tax are not requi
289、red to file tax returns.E.Double tax relief and tax treatiesResident taxpayers are entitled to a tax credit for income taxes paid abroad,up to the increase in Argentine tax resulting from the inclusion of the foreign-source income.Argentina has tax treaties in force with the following jurisdic-tions
290、.Australia Finland Qatar Austria*France Russian Federation Belgium Germany Spain Bolivia Italy Sweden Brazil Japan*Switzerland Canada Luxembourg*Turkey*Chile Mexico United Arab China Mainland*Netherlands Emirates Denmark Norway United Kingdom*The procedures required for the entry into force of these
291、 treaties are currently in progress.F.Types of residenceUnder Law 25,871,the following are the three categories of entry:Transitory residence Temporary residence Permanent residenceThese types of residence and other key aspects of the immigra-tion process in Argentina are discussed below.Transitory
292、residenceTechnical residence.Technical residence applies to foreigners who will perform technical or professional activities for a short time period.This type of residence can be obtained only at the Argentine consulate in the country of residence of the expatriate.arGEnTina 47Technical residences g
293、ranted by the Argentine consulate are for a 30-day period,which can be extended up to 90 days,at discretion of the immigration office.The extension can only be applied for inside Argentina at the immigration office.Transitory Work Authorization.A Transitory Work Authorization(TWA)is a short-term,sin
294、gle-entry work permit valid for a period of up to 90 days.This type of short-term work permit allows assignees to reside legally in Argentina and perform paid or unpaid activities for a local entity in Argentina.The assignee can apply for this benefit twice in a 365-day period beginning on the date
295、of the first application.To apply for a second TWA,the assignee must leave and re-enter the country.Business visas.Business visas are issued to foreign nationals who were invited by a local commercial entity established in Argentina.This type of visa can be obtained only at the Argentine consulate i
296、n the country of residence.It is issued by the consulate directly or through a prior application to the immigration office in Argentina.This type of visa is for business issues only.Visitor visas.Nationals from the following jurisdictions require a visitor visa to enter Argentina.Afghanistan Eswatin
297、i Oman Albania Ethiopia Pakistan Algeria Equatorial Guinea Palau Angola Fiji Palestinian Antigua Gabon Authority and Barbuda Gambia Papua New Azerbaijan Ghana Guinea Bahamas Guinea Philippines Bahrain Guinea-Bissau Qatar Bangladesh India Rwanda Belarus Indonesia Samoa Belize Iran So Tom Benin Iraq a
298、nd Prncipe Bhutan Jordan Saudi Arabia Bosnia and Kenya Senegal Herzegovina Kiribati Seychelles Botswana Korea(North)Sierra Leone Brunei Kuwait Solomon Darussalam Kyrgyzstan Islands Burkina Faso Laos Somalia Burundi Lebanon Sri Lanka Cambodia Lesotho Sudan Cameroon Liberia Syria Cape Verde Libya Taji
299、kistan Central African Madagascar Tanzania Republic Malawi Taiwan Chad Maldives Timor-Leste China Mainland*Mali Togo Comoros Marshall Islands Tunisia Congo(Democratic Mauritania Turkmenistan Republic of)Mauritius Tuvalu Congo Micronesia Uganda (Republic of)Moldova United Cte dIvoire Mongolia Arab Em
300、irates 48 arGEnTina Cuba Morocco Uzbekistan Djibouti Mozambique Vanuatu Dominica Myanmar Vietnam Dominican Namibia Yemen Republic Nepal Zambia Egypt Niger Zimbabwe Eritrea Nigeria*Chinese citizens not born in Argentina who hold Chinese ordinary passports and are going to Argentina for tourism do not
301、 require a visa if they have a valid United States visa(Category B2)or a Schengen visa,but must pay an entry fee to visit the country.Resolution No.137-E/2017(March 2017)issued by the Interior Ministry establishes an exemption to transitory visas for indi-viduals from member jurisdictions of the Org
302、anisation for Economic Co-operation and Development(OECD)who hold ordinary passports issued by their country of nationality or valid travel documents according to the MERCOSUR regulations.The exemption applies to transitory matters(only business activities)of up to 90 days,according to Section 24 of
303、 Law 25,871.Temporary residenceLabor contract residence.Labor contract residence applies to foreigners who are regularly employed by a local company for a long period.This type of residence is valid for one year and may be extended indefinitely.Intracompany transfer residence.Intercompany transfer r
304、esi-dence applies to employees who are transferred from a home country company to an Argentine company for a long period.This type of residence is valid for one year and may be extended indefinitely.Family reunification with temporary resident relative.Family reunification with temporary resident re
305、lative residence applies to foreigners who have a relative with temporary residence in Argentina.This type of residence is valid for the period of the temporary residence of the relative and may be extended indefi-nitely.Rentier residence.Rentier residence applies to proprietors or pen-sioners who r
306、eceive money in Argentina.This type of residence is valid for up to one year and may be extended indefinitely.Study residence.Study residence applies to foreigners entering the country with the intention of carrying out studies at private or state-run establishments that are officially recognized.Th
307、is type of residence is valid for up to one year and may be extended for the period of the course of study.MERCOSUR temporary residence.MERCOSUR temporary residence applies to foreigners born in the MERCOSUR coun-tries(Bolivia,Brazil,Chile,Colombia,Ecuador,Guyana,Paraguay,Peru,Suriname,Uruguay and V
308、enezuela)who will work for a long period.This type of residence is valid for two years and may be extended indefinitely.Investors.The immigration office considers an investor to be a foreign national that would make a minimum investment of ARS1,500,000 in a productive,commercial or service-supplying
309、 arGEnTina 49activity in Argentina or who convincingly proves that he or she has ARS1,500,000 destined for investment in these types of activities.Prior experience in the relevant activities is desirable.The investor visa is valid for up to one year and may be extended indefinitely.Permanent residen
310、ceFamily reunification with a permanent resident relative.Family reunification with a permanent resident relative residency applies to foreigners who have a relative(parent,child or spouse)with permanent residence in Argentina.Family reunification with Argentine relative.Family reunification with Ar
311、gentine relative residency applies to foreigners who have an Argentine relative(parent,child or spouse)in Argentina.MERCOSUR citizens who live in Argentina for two years.After two years of temporary residency in Argentina,MERCOSUR nationals can apply for permanent residency.Brazilian nationals can a
312、pply for permanent residence from the beginning of the assignment under an agreement between Argentina and Brazil.Non-MERCOSUR citizens who live in Argentina for three years.Non-MERCOSUR citizens can request permanent residence after they live in Argentina for at least three years.Registration of lo
313、cal companies.The National Registry of Foreign Personnel Requestors(Registro Nacional nico de Requirentes de Extranjeros,or RENURE)is the national registry in which all the local entities requiring foreign staff must be enrolled.The requesting person(private or public,physical or juristic)must be re
314、gistered at RENURE to obtain the following types of residence:Technical residence Business residence Transitory Work Authorization Labor contract residence Intracompany transfer residence Religious residence Study residenceHome country required documentation.To obtain temporary or permanent residenc
315、e,a criminal record certificate from the coun-tries where the employee lived for at least one year in the past three years is required as well as the criminal record certificate from the country of birth.The criminal record certificate needs to be legalized for Argentina.Under the Hague Convention,t
316、he document can have an apostille issued by the home country foreign affairs ministry.If the home country is not part of the convention,double legaliza-tion must be performed by the home country foreign affairs ministry and by the Argentine consulate.For an employee who is accompanied by dependents,
317、criminal records are not required for individuals who are younger than 16 years old.Furthermore,in this case,legalized family-ties certifications must be attached.Translation of required documents.All of the documents that are issued in a language other than Spanish must be translated by an 50 arGEn
318、Tina Argentine sworn translator and legalized by the Argentine Sworn Translators Association.An exception applies to documents issued in Brazilian Portuguese.National Identity Card.The National Identity Card(Documento Nacional de Identidad,or DNI)is issued to foreigners with any type of temporary re
319、sidence valid for more than three months.The first application for the DNI can be made simultaneously with the application for temporary or permanent residence at the immigration office.Subsequent applications need to be sched-uled in advance at the Register Office for Natural Persons(Registro Nacio
320、nal de las Personas,or RENAPER)or at the immigration office in the case of residences renewals.Social security number for Argentina.A social security number(Codigo Unico de Identificacin Laboral,or CUIL)for Argentina is required for all regularly employed foreigners.51A GMT+4EY 1 Northern Avenue Yer
321、evan 0001 ArmeniaExecutive and immigration contactKamo Karapetyan+374(10)500-720,Ext.2612 Fax:+374(10)500-706 Email:As of 22 September 2022,the exchange rate of the Armenian dram against the US dollar was AMD417.92=USD1.A.Income taxWho is liable.Resident individuals are subject to income tax on thei
322、r worldwide income.Nonresident individuals are subject to income tax on only income received from Armenian sources.For tax purposes,an individual is considered resident if he or she satisfies either of the following conditions:He or she resides in Armenia for 183 or more cumulative days in the curre
323、nt tax year(same as a calendar year).His or her center of vital interests(the place of a persons fam-ily or economic interests)is in Armenia.For the purpose of determining the residency status,days spent abroad by an individual as a civil servant of the Republic of Armenia(RA)are considered as days
324、spent in the RA.Income subject to tax.The taxation of various types of income is described below.Employment income.Taxable income from employment consists of all types of compensation or benefits,whether received in cash or in any other form,subject to certain exemptions.Self-employment and business
325、 income.Corporate income tax is levied on an individual entrepreneurs annual income,which consists of gross income less expenses(except for nondeductible or partially nondeductible expenses)contributing to the generation of the income.Directors fees.Directors fees are included in taxable income.Inve
326、stment income.Investment income is in the form of dividends,which is the income received or to be received by a participant as an allocation of profit(including an interim allocation)from participation(stock,share or unit)in the charter or share capital of an organization or joint activity.The above
327、 taxes are withheld at source.Exempt income.“Exempt income”represents part of the gross income of a taxpayer,which is deducted from gross income for 52 armEnia determination of taxable income.Income derived by individuals that is considered exempt includes,among other items,the following:Contributio
328、ns made by taxpayers on their behalf and/or by third-party taxpayers(including employers)within the voluntary accu-mulative pension insurance system according to the terms and conditions established by RA legislation,but not more than 5%of the taxpayers gross income Contributions made by the state f
329、or the taxpayer within the obligatory accumulative pension insurance system in accordance with the terms and conditions established by RA legislation Compensation paid to employees within the norms specified in the legislation of the RA,with the exception of compensation paid for unused leave days i
330、n the event of quitting work Property and cash received from individuals as inheritance or gifts,with the exception of gifts of property received from individual real estate developers Assets,works and services received from noncommercial orga-nizations free of charge Assets,works and services recei
331、ved free of charge on the basis of decisions of the state administration and local government bodies of the RA,as well as such items received from foreign states and international(intergovernmental)organizations Proceeds from the sale of property to non-entrepreneur indi-viduals,with the exception o
332、f amounts received from the sale of property subject to entrepreneurial activity(property subject to entrepreneurial activity is a car that is alienated within 365 days after its acquisition)Scholarships and stipends paid by the state,noncommercial organizations,foreign states and international(inte
333、rgovernmen-tal)organizations to students and postgraduates of higher edu-cational institutions,students of specialized-secondary and vocational schools and attendees of religious seminaries Insurance compensation with the exception of insurance com-pensation received under the voluntary accumulative pension insurance system Income derived from the sale of shares,treasury bonds and other state secu