In line with its goal of debureaucratizing the Argentine tax system and boosting economic formalization, the Government of Javier Milei announced this Thursday the implementation of a new simplified Income Tax regime, which will take effect starting June 1, 2025.
The measure was presented by the Minister of Economy, Luis "Toto" Caputo, and the head of the Revenue and Customs Control Agency (ARCA), Juan Pazo, in a press conference where the guidelines of the Historical Savings Repair Plan for Argentines were also presented, the comprehensive package of measures aimed at restoring citizens' trust in the Argentine financial system.
The new regime will focus exclusively on invoiced income and deductible expenses, and will leave behind the requirement to declare personal consumption and asset evolution, one of the greatest bureaucratic burdens for taxpayers. The measure affects more than 390,000 self-employed workers, who from next year will have a clearer, more predictable, and simpler system.
This change implies a quality leap in the relationship between the State and taxpayers. Additionally, this new fiscal structure will allow resources to be freed up for both the citizen and the treasury itself.
