As long as:

• The offer is not advertised or publicized
• The stock is not traded in Argentina
• The offer is limited to employees
• The offer is intended to compensate employees and not to raise capital, no securities law requirements apply

Last modified 15 Apr 2023

Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations.  Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

Last modified 15 Apr 2023

Employee

The employee is taxed on restricted stock upon grant and on RSUs upon vesting (may include personal assets tax).

The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or, alternatively, 13.5 percent on the gross sale price by non-residents.

Employer

Withholding & reporting

Tax withholding and reporting are required upon grant for restricted stock and upon vesting of RSUs.

Deduction

Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

Last modified 15 Apr 2023

Social insurance contributions are generally payable by the employee and employer.

Last modified 15 Apr 2023

Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer also is required to register any database that includes an employee's personal data with the Argentine privacy authorities.

Last modified 15 Apr 2023

Benefits received from restricted stock or RSUs may be considered part of the employment relationship and included in a severance payment if the awards are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued vesting and other rights with respect to his or her award. In order to reduce the risk of employee claims, the award agreement signed by an employee should provide, among other things, that vesting of restricted stock or RSUs ceases upon termination of employment, and that the plan and any awards under it are discretionary.

Last modified 15 Apr 2023

Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

Last modified 15 Apr 2023

As long as:

• The offer is not advertised or publicized
• The stock is not traded in Argentina
• The offer is limited to employees
• The offer is intended to compensate employees and not to raise capital, no securities law requirements apply

Last modified 15 Apr 2023

Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations.  Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

Last modified 15 Apr 2023

Employee

The employee is taxed on the spread upon exercise (including personal assets tax, if applicable). 

The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or alternatively 13.5 percent on the gross sale price by non-residents.

Employer

Withholding & reporting

Tax withholding and reporting are required upon exercise.

Deduction

Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

Last modified 15 Apr 2023

Social insurance contributions are generally payable by the employee and employer when an option is exercised.

Last modified 15 Apr 2023

Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer is also required to register any database that includes an employee's personal data with the Argentine privacy authorities.

Last modified 15 Apr 2023

Benefits received from an option may be considered part of the employment relationship and included in a severance payment if options are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued vesting and other rights with respect to his or her option. In order to reduce the risk of employee claims, the award agreement signed by an employee should provide, among other things, that vesting of an option ceases upon termination of employment, and that the plan and any awards under it are discretionary.

Last modified 15 Apr 2023

Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

Last modified 15 Apr 2023

As long as:

• The offer is not advertised or publicized
• The stock is not traded in Argentina
• The offer is limited to employees
• The offer is intended to compensate employees and not to raise capital, no securities law requirements apply

Last modified 15 Apr 2023

Since September 1, 2019, the Argentine government reenacted FX controls and regulations. These FX regulations are applicable to certain operations. Notwithstanding there are no foreign exchange restrictions applicable to restricted stock or RSUs, local employees may face difficulties in purchasing the foreign currency if the options are in foreign currency, or to transfer money abroad.

Last modified 15 Apr 2023

Employee

The employee is taxed on the spread upon purchase.

The employee is subject to a flat tax of 15 percent on any net gain resulting from the sale of the shares by Argentine Tax residents, or, alternatively, 13.5 percent on the gross sale price for non-residents.

Employer

Withholding & reporting

Tax withholding and reporting are required upon purchase.

Deduction

Argentine subsidiaries are allowed to deduct the amount reimbursed to the parent company for the cost of the benefits if a Reimbursement or Recharge Agreement is in place.

Last modified 15 Apr 2023

Social insurance contributions are generally payable by the employee and employer when the shares are purchased.

Last modified 15 Apr 2023

Obtaining an employee's written consent for the processing and transfer of his or her personal data is the most common approach to comply with certain aspects of data protection requirements. The employer also is required to register any database that includes an employee's personal data with the Argentine privacy authorities.

Benefits received from a purchase right may be considered part of the employment relationship and included in a severance payment if purchase rights are repeatedly granted to an employee. Upon involuntary termination of employment, an employee may be entitled to continued participation in the plan. In order to reduce the risk of employee claims, the offer document signed by an employee should provide, among other things, that participation in the plan ceases upon termination of employment, and that the plan and any awards under it are discretionary.

In light of restrictions on payroll deductions, alternative arrangements may be necessary for contributions to the plan.

Last modified 15 Apr 2023

Not applicable.

Last modified 15 Apr 2023

Although plan materials are not required to be translated into Spanish, it is recommended, to ensure that employees understand the terms of their awards. Award materials should be addressed to individual employees in order to avoid securities law requirements.

Last modified 15 Apr 2023