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A person holding a mobile phone with the screen on, displaying an app, next to the text "ARCA Customs Revenue and Control Agency."
These are the new caps imposed by ARCA | Camara La Derecha Diario
ARGENTINA

Virtual wallets: ARCA set the new transfer limit effective from May

ARCA set new limits for digital wallets and bank accounts in May

by

Editorial Team

ARCA, the agency that replaced the former AFIP, tightened controls on money movements in virtual wallets and bank accounts.

By May, it defined new limits that, if exceeded, can trigger tax inspections and even sanctions. The focus is on funds that are not justified.

Person holding a mobile phone displaying a finance app with an investment balance in dollars.
ARCA tightened controls on money movements in virtual wallets | La Derecha Diario

What amounts can you transfer without triggering ARCA alerts?

Starting in May, the monthly transfer limit between virtual wallets is $2,000,000. If you exceed that amount, the agency can investigate the origin and destination of those funds.

Additionally, if you have a balance equal to or greater than $1,000,000 in a virtual wallet, ARCA may request your data if it finds inconsistencies with your income.

What movements does ARCA control?

  • Monthly bank credits.
  • Fixed-term deposits made in the month.
  • Cash withdrawals (in the country or abroad).
  • Final balances in bank accounts on the last business day of the month.
  • Final balances in virtual wallets at the same cutoff.
A laptop displays the logo of the Revenue and Customs Control Agency on its screen.
What movements does ARCA control? | La Derecha Diario

All these data allow the agency to detect deviations or suspicious movements. If you can't justify income or expenses exceeding $600,000, ARCA can proceed with an inspection or apply sanctions.

What happens if you exceed the limits?

Exceeding the established amounts doesn't automatically mean a penalty. But it can trigger a review of the taxpayer's fiscal profile.

A judge's gavel on a wad of 10,000 Argentine peso bills next to the ARCA logo on a gray background, representing the seizures promoted by the Tax Collection Agency (ARCA)
What happens if you exceed the limits? | La Derecha Diario

ARCA cross-references data between banks, digital wallets, and sworn statements. If it finds inconsistencies, it can initiate a tax audit process and require explanations or supporting documentation.

Current benefits for those with debts to ARCA

The agency also announced new facilities to regularize debts. The current payment plans were extended until May 30.

These benefits are aimed at small taxpayers, micro, small, and medium-sized enterprises, NGOs, and health sector entities.

A hand holding several 10,000 Argentine peso bills.
Current benefits for those with debts to ARCA | La Derecha Diario

What does the plan include?

  • Overdue obligations and fines until December 31, 2024.
  • Lower down payment to enter the facilities plan.
  • More installments to finance the tax debt.

How much did the down payment decrease?

  • Small taxpayers: from 25% to 17%.
  • Medium-sized enterprises tier 1: from 25% to 23%.
  • Medium-sized tier 2: from 30% to 23%.
  • Other taxpayers: from 35% to 28%.

According to ARCA, these measures aim to encourage tax compliance and reduce the level of debt. It also seeks to modernize collection and prevent evasion maneuvers.

➡️ Argentina

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