Argentina unveils rules on financial income taxation

Argentina has issued secondary legislation governing the implementation of part of the country's last major tax reform, approved in 2017.

Via a decree, the government said it will tax financial income such as that obtained from bonds, time deposits, property rental, some classes of shares and the sale of dollars and digital currency.

Investors will have to pay tax of between 5% and 15% on annual financial income of more than 66,917 pesos (US$1,737), state news agency Télam reported. Rates will be determined by whether the investment is in pesos, inflation-linked units or dollars.

Taxes will be charged retroactively, from January 1, 2018, it said.

Local paper Clarín reported that inland revenue service Afip now has to issue final rules on how and when taxes must be paid.

The move comes as the government works to cut spending and boost revenue in a bid to improve the country's wobbling finances.

In April, the government issued secondary legislation governing taxation on financial income earned by foreign investors.

Read the latest decree (in Spanish)