Summer 2018 Issue
Table 1
Map 1: Argentina
"In general, the model establishes that the PPP contractor creates a special-purpose vehicle (SPA) in charge of oversight and performance until the termination of the agreement. This programme is an alternative to agreements regulated by public works laws." from stamp tax in the Province of Buenos Aires, including contracts for the incorporation of business companies that will act as PPP contractors and the agreements signed by these companies with third parties to comply with the PPP agreements. The Argentine government invited all provinces to exempt these agreements from stamp tax. Finally, the purpose of the PPP programme is to offer tenders for public works via a transparent, flexible, and competitive procurement process, grant legal certainty in the financial design of the model, and encourage the contractor to carry out better quality work.
This new financing programme, in a country with a significant demand for infrastructure work, may be of interest to potential investors that aim for increased profitability and a diversified portfolio. i ABOUT THE AUTHORS Sergio Caveggia is a tax partner currently in charge of the Transaction Tax Area in Argentina. He joined EY Argentina in 1994 and has developed strong expertise over 24 years in international taxation and mergers and acquisitions. He is highly experienced in acquisition structures for inbound and outbound investments, buy side, sell side, and restructuring services within the Transaction Tax area.
Mr Caveggia has given lectures at national universities and is a frequent speaker at tax seminars. He has also written several articles dealing with Argentine tax issues. Mr Caveggia is a certified public accountant and graduated from University of Belgrano in Argentina. He also obtained his tax specialist degree at the University of Belgrano and obtained a postgraduate certificate in Business and Management from Universidad Catรณlica Argentina (UCA). He is a member of the Professional Council of Economic Sciences of Buenos Aires and the Argentine Fiscal Association. Flavia Cimalando is an executive director of the Transaction TAX Area in Argentina. She joined the tax division of EY Argentina in 2000. Mrs Cimalando has developed strong expertise over eighteen years in tax advisory services, tax planning, and due diligence for local and international companies. She specialises in international and local business acquisitions and M&A consulting.
Author: Sergio Caveggia
Author: Flavia Cimalando
CFI.co | Capital Finance International
Mrs Cimalando is a certified public accountant and obtained a Bachelor degree in Business Administration from the University of Buenos Aires. She worked as an assistant professor of Tax Theory and Technique at the School of Economics of the University of Buenos Aires during the last seven years. She has also written several articles dealing with Argentine tax issues. 175