The new decree issued by the government of Argentina presents taxation rules for crypto transactions. It states the modifications aim to ensure that there is equal tax treatment for Payment Service Providers (PSP) and ensure fiscal sustainability.
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For that purpose, the country needs to limit exemptions and intervene in instruments such as digital currencies. Per the official notice published by Argentina Presidencia, crypto will undergo 0.6% taxation according to the country's credit and debt tax laws. It was written in the paper that the aim of the new rules is to limit tax exemption. Previously, peer-to-peer crypto transactions were exempt and viewed as cash operations.
The notice was signed by the Minister of Economy Martin Guzman and the Chief of the Cabinet of Ministers of the Presidency Juan Manzur. Although the paper states that National Executive Power may establish exemptions from the tax in certain cases, they won't be applicable in the cases when fund movements are connected to trading, exchanging, intermediation, and any other crypto operation.