Cryptocurrencies in Argentina

2022: Authorities start accepting cryptocurrency tax payments

In Argentina, began to accept tax payments in cryptocurrency. The innovation was announced on August 27, 2022 by the tax authorities of the province of Mendoza. This is the seventh largest province in the country with a population of more than 2 million people. Mendoza's economy is considered the fifth largest in Argentina.

Users will be able to pay from any crypto wallet, including Binance, Bitso, Buenbit, Bybit, Ripio and Lemon, according to clarifications released by the Mendoza government. Only so-called stablecoins like DAI and USDT will be accepted to pay taxes in Mendoza, Coindesk reported, citing the Clarín newspaper.

Argentina began to accept tax payments in cryptocurrency

It is worth explaining that by the term stablecoin we mean digital assets with a tight link to a more common asset, most often to the exchange rate of fiat currencies such as the dollar and the euro.

Шаблон:Quote'This new service is part of a strategic modernization and innovation effort by the Mendoza Revenue Authority to provide taxpayers with various means to meet their tax obligations, the local authority said in a statement. It is also noted that the payments received by the Mendoza tax service will be converted into Argentine pesos by an online payment service, the name of which has not been disclosed.

Mendoza's initiative to use cryptocurrencies to pay taxes is not the first in Latin America. Earlier in April, a similar step was announced in the capital of Argentina, Buenos Aires. True, as of the end of August, the government of Mayor Horacio Rodríguez Larreta had not set a specific launch date for the program.

In addition, in Brazilian Rio de Janeiro, from 2023, it will be possible to pay municipal real estate taxes using cryptocurrencies. The city authorities announced this in March 2022.^[1]

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