Argentina Commits to OECD Crypto Tax Reporting, Data Exchanges to Start by 2029
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Argentina's commitment to adopt the OECD CryptoAsset Reporting Framework (CARF) and begin automatic crypto tax information exchange by September 2029 signals tighter cross-border transparency for resident crypto activity. While it does not create new taxes, it strengthens ARCA's ability to reconcile offshore crypto transactions with filings and may raise compliance costs for exchanges and intermediaries operating with Argentine users, marginally impacting regional adoption and flows.
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Argentina has pledged to adopt the OECD's CryptoAsset Reporting Framework (CARF), with automatic cross-border exchange of tax information on cryptoasset transactions set to begin no later than September 2029, ME News reported.
Under CARF, Argentina is required to incorporate the framework into domestic law by 2029 and establish reporting obligations for relevant cryptoasset service providers. Crypto exchanges, intermediaries and other related service firms would be tasked with identifying reportable users and collecting data including names, addresses, tax residency, taxpayer identification numbers, and details of cryptoasset purchases, sales and transfers.
The move does not create new taxes or automatically impose new tax liabilities on users. Argentina's tax authority, ARCA, would instead gain standardized information on residents' offshore crypto transactions, allowing it to compare reported activity with tax filings.
The first reporting period under the mechanism has not been disclosed. (Source: BlockBeats)
