Taxation in Argentina occurs at the national and municipal levels. Their taxing authority requires bank statements to be filed with tax returns. Argentinean companies and individuals are taxed on worldwide profits and income so offshore income is not exempt and this is a bad thing when looking for a tax or retirement haven. They also have a VAT tax (the standard rate being 21%) making purchases expensive. The corporation tax rate is 35% plus there are additional local taxes. Individual tax rates go up to 35% in stages.