Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 7

Investor compliance with the laws and regulations in the home countries of their investments should be part of their regulators' due diligence process. They, in turn, should be treated equitably in the home country of their investments especially in respect to their rights to shareholder benefits and concessionary arrangements under double tax agreements.

1.	Do domestic regulators monitor the procedures in place at their locally based cross-border custodians to assure compliance with the laws and regulations of the home countries of their investments?	There are no local written rules that regulate the operation of local custodians. They manage themselves consistently with international practices and usually require that their customers adhere to an agreement that they have signed with "international clearing houses" where investments are held in deposit.
2.	What are the areas (e.g. benefits, investor compensation) where foreign investors are not treated in the same way as local investors?	Local and foreign investors are treated on an equal basis. As a result of tax considerations, there may be differences relating to income tax withholding, especially in case of dividend/interest payments.
3.	Can sales proceeds and income be repatriated without any restrictions?	There are no restrictions on repatriation of funds, even though foreign investors should determine with their professional advisors whether they are subject to Argentine taxes.
4.	Are double tax agreements simple to apply, and do foreign investors receive promptly their full entitlement to dividends and interest payments?	Argentina has entered into double taxation agreements with several countries. They are easy to apply. Foreign investors promptly receive their full entitlement to dividend/interest payments. There is no difference between local and foreign investors.