Argentina: Credit & Debit Tax

Overview

Argentina levies a tax on bank account credits and debits (Impuesto a los Créditos y Débitos, commonly known as the "check tax"). The standard rate is 0.6% on each credit and 0.6% on each debit to a taxable account.

Whether the tax applies to a given movement depends on who holds each side of the transaction: individuals are generally exempt, while businesses are generally taxed. The tables below describe how this plays out for payins and payouts involving Infinia named accounts in Argentina.

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Tax rates and exemptions are set by Argentine regulation and may change. The rates and rules on this page are informative and do not constitute tax advice — confirm the treatment of your specific case with your tax advisor.

Payins (funds entering a named account)

#	Payer (external)	Destination (Infinia named account)	Tax on the payer's side	Tax on the account's side
1	Individual	Individual Named Account	No tax	No tax
2	Individual	Business Named Account	No tax	Tax
3	Business	Individual Named Account	Tax	No tax
4	Business	Business Named Account	See below	See below

Business paying into a Business Named Account (row 4):

If the business is funding its own named account, no tax applies on either side.
If the business is paying into a third party's business named account, the tax applies on both sides.

Payouts (funds leaving a named account)

#	Source (Infinia named account)	Beneficiary (external)	Tax on the account's side	Tax on the beneficiary's side
1	Individual Named Account	Individual	No tax	No tax
2	Individual Named Account	Business	No tax	Tax
3	Business Named Account	Individual	Tax	No tax
4	Business Named Account	Business	Tax	Tax

Withholdings and the final received amount

Beyond the credit & debit tax, movements in Argentina may also be subject to municipal withholding taxes, which vary by jurisdiction and by the profile of each party. For this reason, it is very hard to predict the exact final amount the destination will receive for a given transfer.

What is predictable is the spend: for payouts, Infinia never debits more than the amount specified in the Create Payout endpoint. Any applicable taxes and withholdings are deducted from that amount, not added on top of it — so the source account is never charged more than what you requested, and the beneficiary receives the amount net of whatever taxes and withholdings apply.

Rule of thumb

Movements on an individual's side are not taxed.
Movements on a business' side are taxed at 0.6% per credit or debit.
Transfers between accounts of the same business (own accounts) are exempt.

This means that flows between individuals carry no credit & debit tax at all, while any leg held by a business — whether the external counterparty or the Infinia named account — is subject to the tax on that side.