Axel Kicillof launched a tax on Gross Income in virtual wallets in PBA

After his recent victory in the provincial elections in Buenos Aires, the ultra-Kirchnerist governor Axel Kicillof announced the implementation of a new collection regime for the Gross Income Tax, aimed at transactions carried out through virtual wallets.

The measure, made official through Regulatory Resolution ARBA 25/2025, establishes that Payment Service Providers (PSP) must act as withholding agents, with rates ranging from 0.01% to 5% depending on the taxpayer's activity.

The new regime, which will apply from October 1 for PSPs already operating in other jurisdictions and from November 1 for the rest, is part of the Computerized System for Collection and Control of Credits in Payment Accounts (SIRCUPA), approved by the Arbitration Commission of the Multilateral Agreement.

According to ARBA, the measure seeks to equalize the treatment of these digital transactions with that provided for traditional bank accounts and to consolidate tax collection in the context of the growth of electronic payments.

With this measure, Kirchnerism once again increases taxes on a growing sector, discouraging innovation and directly affecting consumers and small businesses that use these platforms.

Kicillof's decision comes right after the elections, generating criticism for using the electoral victory to advance tax measures that destroy the wallets of Buenos Aires residents.

Buenos Aires elections

After the legislative elections in the province of Buenos Aires held yesterday, Fuerza Patria, the united front of Buenos Aires Peronism, obtained about 47% of the votes, far surpassing the opposition coalition La Libertad Avanza, which reached around 33.7% according to provisional counting data.