Tax changes in a province of Argentina reach cryptocurrencies

In the Argentine province of Córdoba there are changes in tax matters affecting cryptocurrencies. This was stated by tax advisor Marcos Zocaro, who wrote a document on this topic for the Center for Tax Administration Studies (CEAT FCE UBA).

As explained by the CEAT, Marcos Zocaro’s work analyzes the inclusion of the concept of “digital currency” in various aspects of the provincial tax laws that tax the buying and selling activities of these assets and even the sale of digital currencies received as part of the payment for the provision intended to provide a service or sale of a product.

“So, Córdoba is the first sub-national jurisdiction to begin regulating crypto asset operations, with all the challenges that come with that activity“they remarked.

Tax changes in a province of Argentina reach cryptocurrencies
Tax changes in a province of Argentina reach cryptocurrencies

Consulted in Spanish by Cointelegraph, Marcos Zocaro pointed out some of the key points to consider. Zocaro said that the provincial tax legislation of Cordoba (with a few exceptions) includes an activity that is taxed in the tax on gross income: “The provision of services of any kind directly or indirectly related to operations related to digital currencies.”

“Regarding the tax base in relation to the purchase and sale of digital currencies, it is established that the tax base is composed of the difference between the selling and buying prices, provided that these are carried out by the subjects who were habitualists in such operations”, Zocaro added.

On the other hand, he stated: “The tax law sets tax rates between 4% and 4.75% for services on stock exchanges and between 4% and 6.5% for the purchase and sale of digital currencies.”

If you want to see the complete document by Marcos Zocaro, you can enter here.

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