Abbreviations
Below you will find the list of abbreviations and terms used in describing the Taxes module.
| Abbreviation | Description |
|---|---|
|
Stamp Tax |
Stamp tax is levied by each of the 24 jurisdictions into which Argentina is divided, and applies principally to contracts and agreements, mortgages, and other obligations, and discharges of a civil, financial, or commercial nature of which there is written evidence or, in certain instances, there are entries in books of accounts. |
|
Tax Events |
Refers to any event or transaction that results in a tax for the party who executes the transaction. |
|
Tax Base |
The base amount of the tax events on which the tax is calculated. |
|
Tax Rate |
It is the percentage at which tax is calculated on the tax base. |
|
Jurisdiction |
It is the province of the customer, mostly the same as the residence of the customer, except in other circumstances. The jurisdiction will dictate the tax calculation methodology to be applied for the jurisdictional taxes. |
| Instrumented | It is a document signed by both parties, bank and customer and provided along with loan or deposit contracts. Savings account are always instrumented. |
|
Non-Instrumented |
It is a document only signed by client or neither bank nor customer during loan or deposit contract creation. Current accounts are always non-instrumented. |
| AFIP | Administración Federal de Ingresos Públicos (The Federal Administration of Public Revenues) |
| Returns Padron | Some jurisdictions publish files including information about tax returns. These padron files contains the details of withdraws taken from the customer’s account to be returned. |
| CBU |
Single Banking Code (English) Clave Bancaria Uniforme (Spanish) |
| NACHA | National Automated Clearing House Association. |
| Padron | Padron contains the list of customers who are partially or fully exempt from tax. Each type of tax has one or many padrons applicable. |
| CUIT | Clave Única de Identificación Tributaria (Unique tax identification Code). Tax Id of the customer recorded in the CUSTOMER application during the customer on-boarding or thereafter. |
| Turnover Tax | Jurisdictional tax imposed on gross revenues from the sale of goods and services. Exports of goods are exempt, and certain industries are subject to a reduced tax rate. Rates, rules, and assessment procedures are determined locally. |
| COELSA | Cámara Electrónica de Compensación de Medios de Pago minorista de la República Argentina. COELSA is the Electronic Clearinghouse created by most of the large Public and Private Banks to implement the New National Payments System. |
| DFE | Data Formatting Engine. |
| BA | Buenos Aires (Jurisdiction). |
| CT | Catamarca (Jurisdiction). |
| MA | SIRCREB – Multilateral (Jurisdiction). |
| SA | Salta (Jurisdiction). |
| TM | Tucuman (Jurisdiction). |
|
BCRA |
Banco Central de la República de la Argentina – Spanish Since Central Bank of the Argentine Republic – English |
| FX | Foreign Exchange |
|
PAIS Tax |
“Para una Argentina Inclusiva y Solidaria”, tax applicable for buying USD from ARS accounts |
| ATMFRM | ATM Framework |
| LCY | Local Currency |
| FCY | Foreign Currency |
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