There will be friendly fiscal measures for companies linked to cryptocurrencies.
In Argentina there are more than 10 million cryptocurrency accounts, the statement said.
The Government of the City of Buenos Aires announced that it promotes measures to enhance its technological-economic development and position itself as a world leader in the use of cryptocurrencies, through a new program called BA crypt.
This contemplates measures To modernize the city tax system: the objective is to facilitate foreign investments, innovate accompanying the growth of new industries and position Buenos Aires as a crypto referent in the world.
Specifically, the program consists of four initiatives that seek to generate a more agile, transparent and adapted environment to the dynamics of the new economic context, according to it.
1. Update of the Nomenclator of Economic Activities:
The sale of cryptocurrencies will have its own category, simplifying and facilitating the tax declaration. The nomenclator, a record, is used to classify what type of activity each person or company performs when submitting their tax declaration.
With this update, new activities are added such as those linked to cryptoactive ones, so that those who work in these sectors can have more clarity and simplicity when taxing, at no fiscal cost and facilitating the crossing of information between jurisdictions.
2. Exclusion of the Banking Revenue Collection Regime for PSAV:
The exclusion of virtual asset services suppliers (PSAV) of these regimes will mean less bureaucracy for companies in the cryptocurrency sector. The new nomenclator will identify these and avoid retentions that compromise the working capital of companies.
“This implies greater legal certainty and clear rules of the play for the sector,” says the government statement, in the midst of a context in which the sector urges for regulatory rationality and lower fiscal pressure, as cryptoics reported.
3. Different tax base for the sale of cryptocurrencies:
Currently, if a company buys and sells cryptocurrencies, you have to pay gross income for the total amount of the operation. Therefore, a change in the calculation of the tax is proposed so that it is only paid on the price difference, thus giving it a treatment assimilable to that of other instruments used as means of payment or reservation of value.
For the government, this provides clarity, encourages the formal registration of these companies and becomes an attraction to develop the activity in the city. “The intention is to continue promoting that these types of companies are based in Buenos Aires territory,” says the announcement.
4. Payment of non -tax procedures with cryptocurrencies:
At the moment, it is possible to pay with cryptocurrencies through a QR code both taxes and ABL, patents or gross income, as well as non -tax procedures such as driving licenses or traffic fines. However, this only allowed some virtual wallets.
Therefore, the Government of the City of Buenos Aires works that, through an aggregator, neighbors and companies can do so from any Wallet, directly, faster and more simpler.
Jorge Macri: “The goal is for the city to be a world leader in crypt”
Being emphatic about the intention of the program, Jorge Macri, head of the Government of the City of Buenos Aires, declared before the initiative: “The goal is for the city to be a worldwide crypto.”
“We already have human capital and now we are generating the tools by reducing bureaucracy to facilitate the fulfillment of taxpayers and accompany the arrival of the new companies that are installed here,” Macri continued.
According to the Government, in the city of Buenos Aires, 10,000 people are charged from the outer cryptocurrencies. And they argue that in Argentina there are more than 10 million accounts of these assets, which emphasizes that it is The equivalent of 22% of the volume of Latin Americaaccording to data from 2024.
The announcement took place at The Slow Kale bar, in Collegiate, one of the businesses of the Buenos Aires city that accepts payments with cryptocurrencies. The chief of Cabinet, Gabriel Sánchez Zinny, accompanied the Minister of Economic Development, Hernán Lombardi, the Minister of Finance and Finance, Gustavo Arango, and the Undersecretary of Investments of the city, Augusto Ardiles.
“These reforms mark a change in the legal and tax treatment of digital assets. Less bureaucracy, greater legal certainty and clear rules will translate into more investment,” said Minister Lombardi.
Of the encounter Several actors from the technological and cryptocurrency financial world participatedincluding Mario López, president of the Argentine Chamber of Fintech and co-fount of Poinnot Technology Studio, Teófilo Blessed, director of Public Affairs Growth Argentina, Jimena Vallone, executive director of the Argentine Bitcoin NGO, and Candela Fazzano, Ecosystem Lead De Devconnect in Ethereum Foundation.
Likewise, multiple representatives of cryptocurrency companies and exchanges such as Binance, Lemon, Bitso, Koibanks, Belo, Ripio and Bitget were present.
