Argentina is one of the countries that has the greatest Adopt encryption In Latin America, more and more users are buying, selling and/or making returns using this type of asset.
Although Anonymity and Decentralization They are two of the aspects most valued by users, Declare this type of asset It has its advantages such as the ability to use this money for Acquisition of recordable assets. It is worth remembering that coffin It has already established clear standards on when it is appropriate to pay taxes and what movements must be reported.
In what cases should profits be paid on operations with cryptocurrencies?
according to coffinthe results obtained as a result Alienation (sale) to Crypto assets/digital currencies It constitutes the profits generated by the tax. The way said profits are declared and the rate to be applied depends on whether the person receiving them is A human being or an undivided caliphate It does not constitute a company, sole proprietorship, legal entity, etc Topics of Article 53 of the law.
in case Human persons and undivided differences that do not constitute corporations or sole proprietorshipsconsidered a He entered the second category. In this case, the tax treatment will differ depending on whether it is from an Argentine or foreign source.
If A Income from an Argentine sourceThe prescribed tax contained in Sections A)* and B) of Article 98 of the Law shall be applied, with 5% or 15% aliquot respectively, depending on Disposal of crypto assets/cryptocurrencies in pesos and without modification requirement -Subsection a)-or, failing that, a foreign currency sale transaction, Subsection b) is applicable.
Either way, it counts Special discount stipulated in Article 100, as well as acquisition costs and expenses directly or indirectly related to the profits obtained.
On the other hand, if A Income from a foreign sourcethe results obtained will be achieved in an aliquot of 15% In all cases. Likewise, in the case of legal entities and other persons subject to Article 53 of the Law, profits are taxed on the basis Progressive rate Estimated in Article 73 of the Tax Law, which will depend on the accumulated net taxable profit for the fiscal period in question.
How is the dividend payment calculated?
coffin Details A very simple example to understand how dividends are paid. In this case if on 09/05/2023 a person was 0.1 Bitcoin For $1,800,000 on the Exchange, which was purchased for $1,000,000 and a commission of $1,500 was applied to the sale transaction, the tax will be divided as follows:
- Amount obtained from the sale: $1,800,000
- Acquisition cost and other related expenses: – $1,001,500
- Losses of previous years:-
- Special deduction for fiscal period 2023 (deduction to be provided between Section 95 and 96 income, paragraphs a) and b) existing in the period): – $451,683.19
- Tax base: $346,816.81
- Aliquot (s/inc.a) or inc. b) Of art. 98 leg): 5%/15%
- Specific tax: $17,340.84 / $52,022.52
It must be remembered that the data refers to the example cited coffin. On the other hand, if the subject was a company, the example would be as follows: “CRYPTO SA has made three (3) purchases of Ether In the fiscal year, the first is 1 ETH for $3,500,000, the second is 1.2 ETH for $4,000,000 and the third is 0.7 ETH for $2,900,000, and this is their first transaction using cryptocurrency assets. Later, in the same exercise, he sold 2.2 ETH for $9,000,000,” he was quoted on the ARCA page.
In this case, The calculation was as follows:
- Amount obtained from the sale: $9,000,000
- Imputed Cost: ($3,500,000 + $4,000,000) (ARCA highlights that, for purposes of determining attributable cost, assets sold will be considered consistent with the oldest acquisitions of the same type and quality. In this case, $3,500,000 corresponds to the first purchase, and $4,000,000 corresponds to the second purchase)
- Sales result: $1,500,000.00
This result is added to the company’s other results, which will be taxed, then profitAt the progressive rate stipulated in Article 73 of the law.
What happens if the cryptocurrency sale results in a loss?
In the event that selling cryptocurrencies generates a losswhether in case Human persons/undivided differencesas in the case of legal entities and other responsible parties, the said loss will be Specific nature.
This means that it can only be Compensation for future profits Which comes from the same type of operation (disposal of crypto assets/digital currencies). Likewise, if the loss is from a foreign source, compensation may only be made for profits of the same nature and source.
It must be remembered that compensation may be made in the same financial year in which the loss occurred, or in the same financial year Next 5 years.
What happens to profits due to price or valuation differences?
in case Human persons or undivided successions that do not constitute corporations or sole proprietorships, Profits said Not subject to tax In income tax.
For example, if there is property USDT and Bitcoin In one Virtual walletThe dollar exchange rate rises and the price of Bitcoin rises, profits resulting from the aforementioned increases Not subject to tax.
On the other hand, in case Legal persons And other topics of Article 53 of the Law, both results are subject to tax in income tax. They are taxed at Progressive rate stipulated in Article 73 of the law.
In cases where these differences result in a loss, they will have a negative nature General bankruptcy If it is of Argentine origin, and specific If it is from a foreign source.
regarding performance resulting from the deposit of this type of assets on an exchange or decentralized finance protocol, whether from persons or undivided property and “Business topics“They must pay taxes on these proceeds.
For humans it is He entered the second categoryso it must be announced in Fiscal period The aforementioned returns are collected, added to the aforementioned account, or reinvested in it.
And in case “Business topics“, the said income must be declared in the financial period in which it exists accumulation. Finally, Rewards earned from mining cryptocurrencies Under the Proof of Work (PoW) consensus protocol, profits are taxed.
If mining is done in the country, the rent will be The source is Argentine. Otherwise it is considered Foreign source.