The Check Tax, created in 2001 as an advance on the tax on debits and credits, has been a subject of debate and controversy in Argentina. Although it initially had a rate of 0.25% and has been modified on various occasions, its main characteristic is that its discount was only authorized at historical values.
Unrecognized inflation has been a determining factor in the real impact of this tax, causing taxpayers to end up paying more taxes than they should. Over the years, various measures have been implemented to allow its discount against other taxes like Income Tax, but the lack of recognition of inflation has made this benefit, in many cases, illusory.
In 2017, it was decided that 100% of the revenue from the Check Tax would be allocated to ANSES, which generated controversy regarding its effectiveness and justification. Despite the various reforms and extensions it has undergone over the years, its validity has been questioned and its possible elimination in the future has been raised.
Currently, the Check Tax represents 12% of tax revenue, although its importance seems to be diminishing due to criticism and the lack of recognition of inflation in its calculation. Despite attempts at reform, this tax remains a topic of debate among different sectors of Argentine society.
It is important to consider that, over more than 20 years, the Check Tax has undergone multiple changes and reforms, but its real impact continues to generate controversy. The lack of recognition of inflation and the complexity of its application have led many to consider it an obsolete and ineffective tax today.
