Income tax in Argentina is collected solely by the Government of Argentina, to the exclusion of the provinces. Argentina has a progressive tax on personal income that is collected as a deferred tax. It also has a flat rate tax on business income (company tax) - 35%.
There is a stamp tax of 1.5% on the total value of real property, whether it gained or lost value, as opposed to just 1.5% applied only to realised capital gains. There is also an ad valorem property tax on other assets such as vehicles. There is also a 0.6% tax on all bank transactions. Argentina’s income tax system contains a complex array of deductions and offsets, and is administered by the Administración Federal de Ingresos Públicos (AFIP).
In 2005, the wealth tax (0.5% to 2.5%), value-added tax (21%; up from 18% in 1994), and excise taxes on electronics, tobacco, alcohol, soft drinks, perfumes, jewelry, precious stones, vehicles, tires, mobile phone services, insurance policies, gasoline, lubricating oils, and other items. Inheritance tax is levied by the provinces - as of 2011, only Buenos Aires levies it (4% when the assets are worth over 3 million pesos). Corporate taxes are levied at 35% for domestic and foreign companies. Provincial and municipal governments impose various taxes.