On June 18, 2026, Decree No. 475/2026 (the “Decree”) was published in the Official Gazette, amending Article 10 of the Annex to Decree No. 380/01, which regulates the Tax on Credits and Debits in Bank Accounts and Other Transactions established by Competitiveness Law No. 25.413 and its amendments.
What does the regulation establish?
The Decree expands the list of exemptions under Article 10 of Decree No. 380/01, with the aim of bringing the exemption regime of the tax commonly known as the “check tax” in line with the new players in the financial and digital ecosystem.
The expanded exemptions are as follows:
- Updated treatment for payment fintechs: the scope of the exemption applicable to companies engaged in electronic payment and/or collection services on behalf of third parties is broadened to expressly include account movements enabling cash deposits or withdrawals into bank or payment accounts, those carried out by their official agents operating through dedicated accounts, and those of entities that transfer third-party funds to complete such transactions when the recipient is a final consumer, provided they are registered in the corresponding registry. The exemption is also extended to such companies when they act as complementary financial service agencies.
- Exemptions for Virtual Asset Service Providers (“VASPs”): an exemption is introduced for accounts used exclusively by VASPs registered in the Registry of Virtual Asset Service Providers of the National Securities Commission.
- Exemption for card operators: accounts used exclusively by companies operating credit, purchase, and/or debit card systems are exempt, covering account debits arising from bank loans taken to finance their operations and credits and debits generated by the issuance and cancellation of corporate bonds issued for the same purpose.
Exemption for cash transport companies: an exemption is introduced for accounts used exclusively by cash transport companies for the remittance of collected cash to their principals.
Why does it matter?
The Decree represents a significant update to the check tax exemption regime in response to the evolution of the Argentine financial system, particularly the growth of fintechs, virtual assets, and new payment processing models. By extending and clarifying the exemptions available to these players, the regulation reduces the tax burden on transactions that, given their intermediary nature, should not be subject to the levy. At the same time, the equalization of treatment among entities carrying out similar activities brings greater neutrality and predictability to the regime.
Effective date
The provisions of the Decree entered into force on the date of their publication in the Official Gazette, June 18, 2026.
