How to Report Crypto Income in Argentina: Your Complete Tax Guide

As cryptocurrency adoption surges in Argentina, understanding how to report crypto income to AFIP (Federal Administration of Public Revenue) is crucial. Failure to comply can result in severe penalties, audits, or legal consequences. This guide breaks down Argentina’s crypto tax landscape, providing step-by-step instructions to ensure you accurately declare your digital asset earnings while maximizing compliance.

Understanding Argentina’s Crypto Tax Framework

Argentina treats cryptocurrency as a “financial asset” rather than currency. Key taxes applicable to crypto activities include:

Income Tax (Ganancias): Applies to profits from trading, staking, or selling crypto. Taxed at progressive rates up to 35%.
Personal Assets Tax (Bienes Personales): Annual wealth tax on global assets exceeding ARS 6 million (~USD 6,600). Crypto holdings are included at their December 31 market value.
Value-Added Tax (IVA): Not applied to crypto-to-crypto trades but may apply to goods/services purchased with crypto.

Argentine residents must declare worldwide crypto income, while non-residents only report Argentina-sourced earnings.

Step-by-Step Guide to Reporting Crypto Income

Follow this process to declare crypto earnings accurately:

Track All Transactions: Document every trade, conversion, staking reward, airdrop, and disposal. Use tools like CoinTracker or Koinly to generate audit trails.
Calculate Taxable Gains:
- For trades: Profit = Selling Price (ARS) – Acquisition Cost (ARS) + Fees
- Use FIFO (First-In-First-Out) method for cost basis calculation
- Convert foreign crypto values to ARS using the official exchange rate on transaction dates
Complete Tax Forms:
- Income Tax: Form F.572 web (Digital) for individuals
- Wealth Tax: Form 720 for assets held abroad
File via AFIP’s Online Portal: Submit declarations through “Monotributo” or “Sistema de Ganancias” using a fiscal key (Clave Fiscal). Deadlines align with standard tax calendars (e.g., May-June for annual filings).
Retain Records: Keep transaction logs, exchange statements, and calculations for 10 years.

Critical Mistakes to Avoid

Ignoring Small Transactions: Even minor trades or DeFi activities are taxable events.
Using Unofficial Exchange Rates: Always convert values using AFIP’s published rates (Cotización del Día).
Overlooking Foreign Holdings: Argentine residents must declare crypto in international exchanges like Binance.
Missing Deadlines: Late filings incur 2%-4% monthly interest penalties plus fines.

FAQs: Crypto Taxes in Argentina

Do I pay taxes if I hold crypto without selling?

Yes. Holdings exceeding ARS 6 million are subject to the annual Personal Assets Tax (Bienes Personales), calculated on December 31 valuations.

How are crypto mining rewards taxed?

Mining income is treated as ordinary revenue. Report the ARS value at receipt date and pay Income Tax. Equipment costs may be deductible.

Can I deduct crypto losses?

Yes. Capital losses from crypto can offset gains from other financial assets within the same tax year. Unused losses carry forward five years.

What if I use international exchanges?

You must declare foreign-held crypto in Form 720 (Wealth Tax) and report income in Form F.572. AFIP has data-sharing agreements with major exchanges.

Are stablecoins taxable?

Yes. Transactions involving stablecoins (USDT, DAI) follow the same rules as volatile cryptocurrencies. Conversions between crypto and stablecoins trigger capital gains/losses.

Pro Tip: Consult a local contador público (CPA) specializing in crypto for complex cases like DeFi, NFTs, or high-volume trading. AFIP’s regulations evolve rapidly—stay updated through their official portal or tax advisory services.