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As per Argentine law 10% of outward freight is presumed to be profit and taxed with 33% which results in
3,5% of tax over the gross freight.

The responsibility of collecting such payment before taxation authority falls over the vessel`s agents
and/or argentine freight payers.

Having said that, owners can avoid payment of this taxi if there is a double taxation agreement between
Argentina and the country where the owner´s company is located. 

The double taxation agreement covers the final freight beneficiary and does not depend on the vessel`s flag to
qualify for this exemption.

In order to apply for this exemption the owner or operator must provide certified tax affidavit must be sent to the
agent so it can be filed and presented to the freight paying party in order to avoid that they deduct the 3,5% tax on
freight as explained above.

The procedure to follow is the following:

Fill in and sign the tax affidavit form Certify your signature with a public notary Get the affidavit signed and stamped
by the local tax authority and certify the signature by a public notary or follow the following alternatives:

If the tax authority signature is registered in the argentine consulate then the argentine consulate will certify it.

If not, you will have to find somebody whose signature is registered.

Get the public notary`s signature certified by the Argentine consulate. However, if the affidavit is produced in one of
the following countries the certification by the Argentine Consulate can be avoided by having the notary public
signature certification made out in accordance with the Apostille procedure (the Hague Convention):