Argentina's Ministry of Finance has announced the Historical Savings Repair Plan for Argentines’ Savings, a package intended to simplify tax compliance and reduce bureaucracy for individuals and businesses, including a new approach designed to let people use their savings without having to repeatedly demonstrate their origin. The plan is structured in two stages: executive measures to be implemented under current law and a follow-on bill intended to protect savers against future policy reversals. As part of the first stage, the Revenue and Customs Control Agency (ARCA) set out measures to be published in the Official Gazette, including repealing multiple information-reporting regimes covering personal consumption paid by debit and credit cards and e-wallets, notarial transaction reports (CITI Escribanos), used vehicle transactions, condominium fee payments, property sale listings (COTI), and reporting of “relevant” electricity, water, gas and telecom consumption. Banks will also be prohibited from requesting national tax declarations from customers. Financial reporting thresholds will be raised materially, including for bank transfers and credits to ARS 50 million (ARS 30 million for legal entities), cash withdrawals to ARS 10 million, end-month balances to ARS 50 million (ARS 30 million for legal entities), time deposits to ARS 100 million (ARS 30 million for legal entities), e-wallet transfers and credits to ARS 50 million (ARS 30 million for legal entities), and holdings at broker-dealers (AlyCs) to ARS 100 million (ARS 30 million for legal entities); the consumer final purchase reporting threshold will move to ARS 10 million regardless of payment method. The package also introduces a simplified income tax (Ganancias) regime focused on invoicing and deductible expenses while excluding personal consumption and asset information, with personal consumption to be anonymised; opt-in is set to open on 1 June and, for the May 2026 filing deadline, ARCA expects to present taxpayers with a proposed payable amount that they can accept and pay or amend. Separately, the Central Bank of the Argentine Republic (BCRA) will promote an Open Finance System (SFA) aimed at enabling user-consented data sharing and interoperability to reduce friction in interacting with banks and to support credit access and service personalisation.
Ministry of Finance (Argentina) 2025-05-22
Argentina's Ministry of Finance launches Historical Savings Repair Plan scrapping ARCA information regimes and lifting transaction reporting thresholds up to ARS 100 million
Argentina's Ministry of Finance announced the Historical Savings Repair Plan to simplify tax compliance and reduce bureaucracy, allowing savings use without repeatedly proving their origin. The plan includes repealing multiple reporting regimes and raising financial reporting thresholds, with measures to be published by the Revenue and Customs Control Agency. Additionally, the Central Bank of the Argentine Republic will promote an Open Finance System to enhance data sharing and credit access.