Argentina is a key player in the crypto market and is ranked 13th globally in Crypto Adoption. Crypto tax in Argentina is levied on the basis of the nature of the taxpayer and the transaction. Recently, the finance ministry proposed a bill encouraging citizens to declare their crypto holdings within 90 days of the bill becoming a law to attract a 2.5% capital gains tax which would increase by 2.5% every successive 90 days till it reaches the standard capital gains rate, that is 15%.
Do you have to pay crypto tax in Argentina?
Yes, you have to pay crypto tax in Argentina. The rates vary on the nature of transactions.
When do you have to pay tax on crypto in Argentina?
If you are holding some crypto or selling it for some income, then it is subject to income tax and personal assets tax. If you have acquired some crypto and are holding it for the time being, then it is liable to personal assets tax and sale of crypto is taxable under turnover tax as gross income.
What crypto transactions are taxable in Argentina?
Holding crypto and selling crypto are taxable in Argentina.
What are the Crypto Tax Rates in Argentina?
- AS PER INCOME TAX
| PAYER | TAX RATE (%) |
| Resident Individuals | 15% (on the gains derived) |
| Resident Legal Entities | 25% – 35% (on the gains or disposal of crypto) |
- AS PER PERSONAL ASSETS TAX
Argentina residents are levied taxes on their worldwide assets at a rate ranging from 0.5% to 1.25% if the value of their assets exceeds ARS 6 million.
- AS PER TURNOVER TAX
Sale of crypto assets is included in gross income which is levied according to the decree of different provinces at varying rates. Therefore, turnover tax is subject to the jurisdiction of a specific province.
Argentina Income Tax Brackets (2023)
| Taxable income (ARS) | Tax on column 1 (ARS) | Tax on excess (%) | |
| Over (column 1) | Not over | ||
| 0 | 173,834.61 | – | 5 |
| 173,834.61 | 347,669.23 | 8,691.73 | 9 |
| 347,669.23 | 521,503.84 | 24,336.85 | 12 |
| 521,503.84 | 695,338.47 | 45,197.00 | 15 |
| 695,338.47 | 1,043,007.68 | 71,272.19 | 19 |
| 1,043,007.68 | 1,390,676.90 | 137,329,34 | 23 |
| 1,390,676.90 | 2,086,015.35 | 217,293,26 | 27 |
| 2,086,015.35 | 2,781,353.85 | 405,034.64 | 31 |
| 2,781,353.85 | and on | 620,589.58 | 35 |
Source: https://taxsummaries.pwc.com/argentina/individual/taxes-on-personal-income
Argentina Capital Gain Tax Rates (2023)
Capital Gains are taxed at a constant rate of 15% in Argentina.
How is Tax Calculated on Cryptocurrency in Argentina?
When taxed under income tax, the profits made are taxable. Therefore, your selling price less your cost price would come under the taxable income. In order to calculate the profit, there are two methods that can be used: First In First Out (FIFO) and Average Costs Based (ACB).
According to FIFO Method, you sell your oldest acquired coin first and cost is calculated according to the respective prices at which the coin was bought. Whereas, in ACB, time of buying doesnt matter and average cost is taken into account.
Let’s take an example,
Say you bought 2 BTC for ARS 20,000 in 2020 and 4 BTC for ARS 60,000 in 2021. Then you sold 4 BTC in 2022 for ARS 100,000:
- FIFO METHOD
You sell 2 BTC from 2020 and 2 BTC from 2021. So cost price is:
= 20,000 + (2/4)*60,000
= ARS 50,000
Profit = 100,000 – 50,000
= 50,000
Here, taxes are levied on ARS 50,000 .
- ACB METHOD:
All coins are of the same denomination. Therefore, cost price for one coin:
= (20,000 + 60,000)/6
= ARS 13,333
So, cost price of 4 coins:
= ARS 53,333
Profit = 100,000 – 53,333
= 46,666
Here, taxes are levied on ARS 46,666.
Crypto Tax in Argentina – FAQs
Do you have to pay tax when you buy crypto in Argentina?
No, you don’t have to pay tax when you buy crypto in Argentina.
Do you have to pay tax when you sell crypto in Argentina?
Yes, you have to pay tax when you sell crypto in Argentina.
Do you have to pay tax when transferring crypto in Argentina?
Transferring crypto is not taxable in Argentina.
Do you have to pay tax when spending crypto in Argentina?
It is unclear whether spending in crypto is taxable in Argentina.
Is swapping crypto taxable?
It is unclear whether swapping crypto is taxable in Argentina.
How much tax on crypto gains in Argentina?
AS PER INCOME TAX
| PAYER | TAX RATE (%) |
| Resident Individuals | 15% (on the gains derived) |
| Resident Legal Entities | 25% – 35% (on the gains or disposal of crypto) |
AS PER PERSONAL ASSETS TAX
Argentina residents are levied taxes on their worldwide assets at a rate ranging from 0.5% to 1.25% if the value of their assets exceeds ARS 6 million.
AS PER TURNOVER TAX
Sale of crypto assets is included in gross income which is levied according to the decree of different provinces at varying rates. Therefore, turnover tax is subject to the jurisdiction of a specific province.
How do I avoid capital gains tax on crypto in Argentina?
Assets are exempt from taxation if they are valued at less than ARS 6 million.
Market Research Intern, Octaloop
Maitreyee takes a keen interest in financial technologies and their potential to transform lives at the grassroots. Put together with her penchant for Economic Research, she brings tonnes of academic and actionable insight into our products. Maitreyee is contributing at Binamite as a Market Research Intern, and when she's not doing that, you can find her exploring the city or buried in a book.