On May 22, 2025, through Decree No. 353/2025 (the “Decree”), the Executive Branch enacted measures aimed at simplifying and deregulating all procedures related to investment and the acquisition of assets. To this end, the Central Bank of the Argentine Republic (“BCRA”, after its spanish acronym) was instructed to issue any measures it deems appropriate.
Some of the key provisions are as follows:
Simplification of Tax Declarations
The Tax and Customs Collection Agency (“ARCA”, after its spanish acronym) is authorized to implement a simplified and optional regime for filing income tax returns by individuals and undivided estates residing in Argentina, thus reducing the administrative burden for taxpayers. Furthermore, ARCA is tasked with simplifying regulations related to reporting regimes, tax audits, and any other procedures under its jurisdiction.
Creation of the Open Finance System
Individuals and legal entities, through express consent, may share their financial information with financial system entities registered with the BCRA, in order to improve access to credit and promote financial inclusion.
The BCRA will serve as the enforcement authority for the Open Finance System established by this Decree.
Other Provisions
The Financial Intelligence Unit (“UIF”, after its spanish acronym) is instructed to update its regulations regarding the prevention of money laundering, terrorism financing, and financing of weapons of mass destruction in alignment with the Decree.
The existing reporting obligations for obligated entities remain unchanged, with no relaxations or modifications.
The Decree entered into force on May 23, 2025.
ARCA General Resolutions in Relation to the Decree:
General Resolution 5696/2025
In accordance with the protection of tax secrecy under Article 101 of Law No. 11,683 on tax procedure, General Resolution No. 5125/2020 is repealed to prevent the unnecessary disclosure of sensitive data, thereby protecting taxpayer privacy and rights.
It prohibits financial institutions and other entities required to report to the UIF from requesting national tax returns from their clients.
The focus remains on implementing the Open Finance System, promoting financial inclusion without requiring additional documentation that could violate tax secrecy.
General Resolution 5697/2025
This resolution repeals a series of previous regulations related to the obligation to submit the Real Estate Transfer Offer Code (“COTI”, after its spanish acronym) for the negotiation, offer, or transfer of real estate or rights over real estate to be constructed.
General Resolution 5698/2025
This resolution repeals several provisions across different sectors, simplifying reporting regimes that previously imposed additional administrative procedures:
- Intermediation and sale of used vehicles: Repeals General Resolutions Nos. 2032, 2403, and 5362, and eliminates Article 15 of General Resolution No. 2729, which required reporting for these transactions.
- Mortgage-backed loans and real estate transfers, assignments of rights, and simultaneous acts: Repeals General Resolutions Nos. 3034, 3205, 3316, and 3725, and eliminates Articles 3 and 4, and the third, fourth, and fifth paragraphs of Article 5 of General Resolution No. 5315, which imposed information requirements for these transactions.
- Utility services (electricity, water, gas, telephone): Repeals General Resolutions Nos. 3349 and 4145, and modifies several others that required companies in these sectors to comply with reporting regimes.
- Common expenses and similar contributions in condominium regimes and planned communities: Repeals General Resolutions Nos. 3369 and 3645, and eliminates Article 8 of General Resolution No. 5220, which concerned reporting obligations related to expenses and contributions in condominium properties, country clubs, rural clubs, gated communities, and similar developments.
General Resolution 5699/2025
This resolution aims to update and amend various reporting regimes in the financial sector. Key points include:
- Credit Cards (General Resolution No. 3421):
Legacy systems are eliminated and replaced with new tools, including “AFIP DGI – Credit Cards” and “ARCA – Foreign Credit Card Transactions.” - Threshold Updates (General Resolution No. 4298):
New thresholds are established for when financial institutions must report account activity, including:
– Bank transfers and credits: ARS 50 million for individuals; ARS 30 million for legal entities.
– Cash withdrawals: ARS 10 million for both individuals and legal entities.
– End-of-month balances: ARS 50 million for individuals; ARS 30 million for legal entities.
– Time deposits (fixed-term): ARS 100 million for individuals; ARS 30 million for legal entities.
– Transfers to virtual wallets: ARS 50 million for individuals; ARS 30 million for legal entities.
– Transfers through Clearing and Settlement Agents (“AlyC”, after its spanish acronym): ARS 100 million for individuals; ARS 30 million for legal entities.
– Consumer purchases: ARS 10 million for purchases made in cash or any other payment method.
General Resolution 5704/2025
Beginning June 1, 2025, individuals and undivided estates residing in Argentina with income from Argentine sources may voluntarily join the simplified regime for the 2025 fiscal year via ARCA’s official website.
Participants in this regime will be exempt from declaring their net worth. Their tax returns will be pre-filled based on information already available to ARCA and additional data voluntarily provided by the taxpayer.
