Separate accounting of the foreign company (art. 120 LGS)
A foreign company carrying on habitual business must keep separate accounts in Argentina and submit to the supervision applicable to its type.
What article 120
Article 120 requires separate accounting and supervision for a foreign company carrying on habitual business.
Such company is required to keep separate accounts in the Republic and submit to the supervision corresponding to its type of company.
Source: Law 19,550, art. 120 — InfoLEG (updated official text)
Commentary
A branch or permanent representation must keep its own accounts in Argentina and be subject to the registration authority’s supervision as the equivalent local company type. The rule promotes transparency and traceability.
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