Argentina: Withholding tax changes introduced by Law 27630


Clearstream Bankinginforms customers that the Law 27630 published in the Official Bulletin of the Republic of Argentina became effective on 16 June 2021.

One of the main impacts of this law is the extension of the 7% withholding tax rate to the dividend payments made from profits realised in fiscal years beginning on or after 1 January 2021, whereby it was initially foreseen by Law 27.541 to increase it to 13%. This is further to T21012 of 1 June 2021 and A20008 of 23 January 2020.



the 7% withholding tax rate on dividends applies for profits accrued from 1 January 2021 onward.

The resolution also specifies that securities received from ICSDs will be now subject to a one business day parking period before being sold versus foreign currency in the local market. All minimum terms for holding securities are counted from the effective date of credit of the security in the local custodian’s subaccount.

Impact on customers

Clearstream Banking offers no tax service on Argentinian dividend and interest distributions. 

The tax will be levied at source by the issuers with no possibility of relief at source nor refund through Clearstream Banking. 

Customers are recommended to seek the advice of their own tax advisors for further details on this taxation.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.


1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.