According to the Argentine Institute of Fiscal Analysis (IARAF), tax pressure in Argentina during 2025 was the lowest in the last decade. The analysis showed that considering the effective national tax pressure (revenue in relation to the size of the economy) of the last 10 years, 2025 is in last place (in an order from highest to lowest). Likewise, it exposed that in relation to 2024, tax pressure presents a decrease of 1.1 percentage points of GDP, due to the tax reduction being carried out by the Javier Milei administration. In this context, the report also indicated that the total accumulated national tax revenue to December was also reduced, being the lowest in the last 10 years. Regarding 2025 compared to 2023, the actual collection was 6.6% lower. In this way, IARAF estimated that last year national tax revenue would have fallen by 1% in real terms compared to 2024 and clarified that “if the collection of taxes linked to foreign trade is not considered, collection would have increased by 4.5%”. In terms of real year-on-year variation, it specified that in 2025 the taxes with the greatest fall (without considering the elimination of the PAIS tax) would have been Personal Assets (-34.6%), export duties (-16%) and Internal co-participated (-11.7%). In contrast, the report detailed that the taxes with the greatest increase would have been taxes on fuels (42.9%), import duties (22.3%) and social security (13.8%). Regarding the behavior of the last month of the year, it revealed that collection would have fallen by 3% real year-on-year during December 2025, while excluding income from taxes linked to foreign trade, the real year-on-year variation would be zero. The December result implies the fifth consecutive real year-on-year fall in collection and is explained by the cut in export duties, as they would have fallen by 58% real year-on-year, so “the elimination of tax burden on the agribusiness sector had a negative impact”. Additionally, the real year-on-year drop of 25% in internal taxes and the 19% drop in Personal Assets also contributed to the revenue decline, “the latter due to comparing with a high base of December 2024 and due to rate cuts”.
