By Globalization PartnersMay 2018
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Globalization Partners enables companies to quickly and easily expand into 187 countries without the hassle of setting up local branch offices or subsidiaries. You identify the talent, and we employ your team member via our in-country payroll. This enables you to quickly and easily hire around the globe, and lifts the burden of figuring out HR, tax and legal matters from your shoulders to ours.
Expanding a U.S.-based business into any country brings its own unique set of challenges. But Argentina brings with it some of the most complex rules around financial reporting, taxation, and business infrastructure that you’ll find anywhere in the world. Global Client Services Associate Carla Siguenza outlines these challenges, and how Globalization Partners navigates them compliantly.
First, most businesses need to hire a third party to handle financial reporting in Argentina, due to the complexity of the country’s tax system. Among the factors that hinder operability are that the country is divided into several jurisdictions, which results in the national, provincial, and municipal governments collecting taxes for revenues, assets, and consumption.
As a result, in a typical year there may be many legislative changes, and instances of double taxation may arise.
There can be significant delays when registering companies in Argentina. It can take several months just to get started.
That’s where Globalization Partners comes in. We help companies expand internationally without having to establish an entity in country by putting your employees on our payroll and assigning them 100 percent back to you.
Through our own entity in Argentina, we can help you test the market by hiring your first employees before you are ready to commit to the challenges of establishing an entity on your own.