Argentina

Asset Regularisation Regime

An Asset Regularisation Regime was established by Law 27.743, providing taxpayers with a legal framework to disclose undeclared assets located in Argentina or abroad. This voluntary regime allows individuals, undivided estates, and entities to bring previously unreported assets into compliance, such as real estate, financial instruments, and other properties, under specific conditions. By adhering to this regime, taxpayers avoid fines and penalties associated with non-compliance. Additionally, the law offers reduced tax rates based on the type and timing of the disclosure, incentivising early participation.

Changes to income tax

For fiscal year (FY) 2024, the government established by Law a new ’cedular regime‘ that was applied on the ’highest incomes‘, understood as those salaries that exceeded the equivalent of 180 times the minimum, vital, and mobile salary (SMVM) as a non-taxable minimum. Under this scenario, employees, retirees, and pensioners (not applicable to directors) paid income tax only when their gross monthly salary was greater than 15 times the SMVM at the time of tax determination. In addition, a progressive scale was incorporated, whose rates were established between 27% and 35%. This new regime was applicable from January to June 2024.

From July 2024 onwards, the ’cedular regime‘ was repealed by the government, and the income tax withholding mechanism that was in force up to September 2023 was reimplemented and updated (annual taxable income 35% tax rate over 41,316,075 Argentine pesos [ARS] after available deductions was reinstated).

Modifications in tax on personal assets (wealth tax)

In June 2024, Argentina’s Congress approved Law 27.743 and introduced new modifications to wealth tax.  Updated deductions and scales were settled for fiscal year 2023 and onwards. A new Special Advance Payment Regime (Régimen especial de Ingreso del Impuesto sobre los Bienes Personales or REIBP) was implemented, offering taxpayers in Argentina an opportunity to simplify their tax obligations while securing fiscal stability. This voluntary program is tailored to individuals and undivided estates who were Argentine tax residents as of 31 December 2023. Non-residents with a local representative may also participate. The regime allows taxpayers to make one advance payment and avoid future tax return filings and tax payments until fiscal period 2027.

See the Other taxes section for rates.