Overview

Capital
Buenos Aires
Currency
Peso
Date Format
dd.mm.yyyy

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Taxes

Employer
10.17% or 12.71% - Integrated Pension System (SIPA)
6% - Payment of Social Work
1.50% - National Institute of Retirees and Pensioners (INSSJP)
3.00% - Health Care
4.44% - Family Allowance Subsystem
0.89% - National Employment Fund
Employee
11% - Integrated Pension System (SIPA)
3% - Payment of Social Work
3% - National Institute of Retirees and Pensioners (INSSJP)
0% - Until 33,039
9% - 33,039 - 66,079
12% - 66,079 - 99,119
15% - 99,119 - 132,159
19% - 32,159 - 198,238
23% - 98,238 - 264,318
27% - 264,318 - 396,477
31% - 396,477 - 528,636
35% - 528,636 and Over

Minimum Wage

General
11,900 ARS

Working Hours

General
Regular full time employees work 48 hour per week (8 hours a day). Overtime must be paid at 150% for overtime Monday- Saturday at 1pm, for all overtime hours between then and Sunday payment must be 200%.

VAT

General
21% rate

Payment

Payroll Frequency
Salaries are commonly paid on a monthly basis; payment must be within the first 4 days of the following month.

Mandatory Benefits

Pension Fund
Employers contribute 10.17% or 12.71%. Employee contributes 11% with a salary ceiling of ARS 48,598.08 per month.
Social Security
Social insurance includes contributions to the Integrated Pension System (SIPA), Payment of Social Work, The National Institute of Retirees and Pensioners (INSSJP), Health Care, Family Allowance and Subsytem, and The National Employment Fund. Employers contribute a total of 26% or 28% of their employees payroll, and employees contribute 17% of their earnings.

Termination

Termination Process
Employers can terminate workers on grounds of worker misconduct, or economic grounds. If without cause, employers must provide notice of: 15 days for employees of less then 3 months, 1 month for employees of up to 5 years, and 2 months for employees of more than 5 years. Severance pay can be provided in lou of notice.
Advance Notice
Written notice 15 days in advance.
Severance Pay
Severance pay is one month of regular wages per each year employed in a company. If appropriate notice was not given, additional payments will be provided. For 3 months or less of employment: 0.5 months salary, for 3 months - 5 years: 1 months salary, and for over 5 years: 2 months salary.