Personal possessions: what the stairs look like and how much you have to pay

In the last few hours, the Federal Administration of Public Revenues (AFIP) has published the scales and non-taxable minimums of the Tax on Personal Wealth for the period 2022.

For the affidavit corresponding to the period 2022, which expires in June 2023, the rates were determined on the basis of the Consumer Price Index (CPI).

the property used as homes will be exempt of the tax when its value it is less than $56,410,705.41. When they exceed this value, it will be calculated for the purpose of calculating the tax the value that exceeds the minimum.

What is the minimum: $11,282,141.08. So to find out which scale it belongs to, the following calculation is made: the total asset valuation must be taken into account and $11,282,141 is subtracted from that amount. (non-taxable minimum).

Personal property – what are the stairs

• If the value of the goods, after deducting the aforementioned tax-free amount, does not exceed $5,641,070.54, 0.5% will be taxed (that threshold was, by 2021, $3 million) of that amount.
• For those who have assets exceeding $11,282,141.08 for an amount of between $5,641,070.54 million and $12,222,319.51, will pay an amount of $28,205.35 plus 0.75% calculated on what exceeds $5,641,070.54.
• For goods between $12,222,319.51 and $33,846,423.25 (over $11.28 million), a fixed amount of $77,564.72 will be paid, plus 1% of the overage of $12,222,319.51.
• So, if the set of goods encumbered add up to more than $33,846,423.25 and up to $188,035,684.71the annual tax will be $293,802.76 plus 1.25% calculated on the amount which exceeds $33,846,423.25.
• If the assets in the country are greater than the $188,035,684.71 and up to $564,107,054.14the imposition will be $2,221,171.53 (fixed amount) plus 1.5% above $188,035,684.71.
• Finally, if the assets are greater than $564,107,054.14, the rate will be $7,862,242.07 (fixed amount) plus 1.75% of the overage of $564,107,054.14.

​Assets located abroad

In the case of assets located abroad, the rates are higher.

• They are 0.7% if the taxpayer’s total assets (in-country and outside borders) exceed (over $11.28 million) $5.64 million
• 1.2% for assets over $5.64 million and up to $12.22 million
• By 1.8%, if the amount is between the latter value and $33.85 million
• By 2.25% when the figure is greater than $33.85 million.

The tax on movable property is determined on the basis of the assets owned as at 31 December of each year, both by natural persons and undivided estates.

Personal property: which is taken into consideration for the tax

The withdrawn goods are included in the calculation for the payment of the movable property tax:

• land
• Real Estate (only in urban areas)
• Vehicles less than five years old
• Titles
• Actions
• Rescue
• credits
• Deposits abroad

NS