Argentina to Exchange Bitcoin and Cryptocurrency Tax Information Starting in 2029

BlockBeats news, September 16: Argentina has committed to implementing the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development (OECD), and to launching automatic exchange of tax information on crypto-asset transactions no later than September 2029. Under the framework, Argentina is required to incorporate CARF into its domestic law by 2029 and to define the reporting obligations of relevant crypto-asset service providers.

Trading platforms, intermediaries, and other relevant service providers will be responsible for identifying eligible users and collecting information such as names, addresses, tax residences, taxpayer identification numbers, and transaction details including crypto-asset purchases, sales, and transfers. The measure itself will not introduce new taxes, nor does it mean users will automatically incur new tax obligations, but Argentina's tax authority ARCA will be able to obtain standardized information on domestic residents' overseas crypto-asset transactions and cross-check it against tax filings. The first annual information reporting period for Argentina under the mechanism has not yet been publicly determined.