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The Argentine tax authority on April 12, 2018, issued General Resolution No. 4227 (the General Resolution), establishing a mechanism for nonresidents to pay the capital gains tax on transfers of Argentine shares and other securities. The General Resolution, which took effect April 26, 2018, applies to taxable transactions entered into after September 23, 2013, the date on which the capital gains tax was introduced.

Withholding agents and nonresident taxpayers should consider reviewing transactions going back to September 23, 2013 to determine whether they owe tax and therefore need to report and pay it via the new mechanism prior to June 13, 2018.