Buenos Aires, Feb. 10 (NA) – The Tax Collection and Customs Control Agency (ARCA) ruled on Tuesday that interest generated by dollar deposits will be exempt from Income Tax withholding, through General Resolution 5822/2026 published in the Official Gazette.
The measure is framed within the Tax Innocence Law, allowing «those who bring their funds into the financial system will not have withholdings on the interest generated by those deposits». In this regard, ARCA argued that «the measure is part of the process of regulatory adaptation and tax simplification, with the objective of promoting the incorporation of funds into the formal financial system».
The decision represents a modification of General Resolution No. 830, which regulates withholdings on various incomes, by incorporating a new exception in the list of incomes subject to withholding. From now on, no withholdings will be applied on Income Tax on payments originating from foreign currency deposits made by individuals and undivided successions in the financial entities included in Law No. 21.526 (banks and savings banks).
This simplification implies that savers will receive the full amount of their interest or adjustments without the bank having to act as a withholding agent, eliminating an administrative and financial cost that weighed on the profitability of these deposits. In the official text, the body explained that «the effectiveness of the tax innocence regime requires a regulatory framework that allows the incorporation of assets into the formal economic circuit as an adequate instrument to ensure their identification, traceability and verification».
The resolution comes into effect on the same day of its publication in the Official Gazette, so financial entities must adapt their systems immediately to stop applying withholdings on these concepts to their individual clients.
