Last reviewed - 22 February 2023

The Republic of Argentina is located in South America, approximately between latitudes 23°S (Tropic of Capricorn) and 55°S (Cape Horn). The Andes separates the country from Chile in the west, and it borders Bolivia and Paraguay in the north and Brazil, Uruguay, and the South Atlantic Ocean to the east.

Argentina's population and culture were heavily shaped by immigrants from all over Europe, but particularly from Italy and Spain, which provided the largest percentage of newcomers from 1860 to 1930. The Republic of Argentina is made up of 23 provinces plus the Autonomous City of Buenos Aires, its capital. The official language of Argentina is Spanish, and the currency is the peso (ARS). Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base.

After the sharp decline affecting the world’s economy in 2020, 2021 was expected to be a year of recovery. The progress of the vaccination process enabled to lift some of  the restrictions that had been applied on population, thus reactivating activities. By  virtue of this, together with expansive fiscal and monetary programs, by the second semester of 2021 many economies had regained pre-pandemic levels. Argentina was no exception. In 2021, it managed to rebound from previous year drop by growing 10.3% year-on-year. The economic recovery of the period under analysis faced significant headwinds amid the second wave of COVID-19 infections, which spiraled during the second quarter of 2021 and brought about the reimposition of mobility restrictions, although much more lenient than those imposed during the previous year. As a result, activities experienced certain slowdown, mainly in April and May. Nevertheless, 14 of the 15 economic sectors surveyed by INDEC registered year-on-year growth during the fourth month of 2021.

The pace of recovery varied across sectors; although the most affected ones, such as entertainment and tourism, managed to improve their results as against 2020 figures, they still remain below 2019 levels. Having said that, other sectors -such as industry and construction- were already reaching the prepandemic dynamism. The third and fourth quarters were marked by the mid-term primary, open, simultaneous
and mandatory election (PASO, for its acronym in Spanish), held on September 12. In the course of July, the dollarization of portfolios  accelerated, with the gap between many alternative exchange rates and the official rate exceeding 80%. Further, the monetary authority increased
its intervention in the secondary market (through the purchase and sale of treasury bonds) and resorted to selling reserves to control the so-called MEP exchange rate, while the purchase of foreign currency in the commercial channel recorded a negative balance. Although from the first business day of July to the last one of September the stock of reserves remained practically unchanged (USD 42.49 billion versus USD 42.91 billion), this was only possible thanks to the inflow of Special Drawing Rights (SDR) for USD 4.32 billion, transferred in August by the IMF to all
its member countries to mitigate the negative effects of COVID-19 on local economies.

As for 2022, the world scenario appears more complex and uncertain. Certain inflation pressures, which were initially considered temporary, now seem to have increased their likelihood of becoming permanent. Uncertainty is high and the escalating conflict between Russia and Ukraine is having an effect on commodity prices. In fact, the prices of the agricultural commodities Argentina exports are rising; as the two countries involved are major producers and exporters of wheat, corn and sunflower. This will benefit our exports, as we will be able to offset the drought-driven volumes decline expected for the 2022 season. However, since Russia is a key player in the oil and gas supply, energy prices will surely soar. Nowadays, Argentina is a net importer of gas; therefore, its price hike will put more pressure on the trade balance and the low Central
Bank reserves, and will also make it even more difficult to adjust utility subsidies/prices. If there is no rise in utility prices, the cost of subsidies may jeopardize the fiscal target, while an increase in rates will have a direct impact on inflation, which is already highly inertial and at high levels.
The agreement reached with the IMF in March 2022 offers the country the opportunity to avoid a disruptive adjustment on its multiple macroeconomic imbalances; but the international landscape has become more uncertain and complex.

PwC Argentina has a staff of more than 4,000 professionals, made up of accountants, lawyers, graduates in economics, and international trade management. PwC provides a multidisciplinary and coordinated approach to create integrated solutions tailored to the client’s needs.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)


Corporate income tax (CIT) due dates
CIT return due date

Second week of fifth month after the fiscal year ends.

CIT final payment due date

Instalment payments must be made on a monthly basis, beginning in the first month after the due date of filing of the tax returns. Any payable balance resulting from the annual income tax return must be paid not later than the due date established for filing the return.

CIT estimated payment due dates

Monthly instalments.

Personal income tax (PIT) rates
Headline PIT rate (%)


Personal income tax (PIT) due dates
PIT return due date

10 June (aprox)

PIT final payment due date

The day following the tax return filing due date.

PIT estimated payment due dates

10 June (aprox)

Value-added tax (VAT) rates
Standard VAT rate (%)


Withholding tax (WHT) rates
WHT rates (%) (Dividends/Interest/Royalties)

Registered taxpayer:

Resident: 0 or 7 / 6 / 6;

Non-resident: 7 / 0, 15.05, or 35 / 21 or 28;

Non-registered taxpayer:

Resident: 0 or 7 / 28 / 28;

Non-resident: 7 / 0, 15.05, or 35 / 21 or 28

Capital gains tax (CGT) rates
Headline corporate capital gains tax rate (%)

Capital gains are subject to the normal CIT rate.

Headline individual capital gains tax rate (%)


Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)

0.50% to 1.25% for assets held in Argentina and 0.7% to 2.25% for assets held abroad.

Inheritance and gift tax rates
Headline inheritance tax rate (%)


Headline gift tax rate (%)


NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.