Province of Argentina includes cryptocurrencies in tax issues

The concept “digital currency” was already registered in various aspects of the regulations for the use of the same

According to a document written by a tax consultant named Marcos Zocaro, about cryptocurrencies, the modifications in tax matters in the province of Córdoba in Argentina include the incorporation of the concept of “digital currency” that refers to the use of these assets for various purposes.

According to Zocaro, the document specifies the purchase and sale of crop assets and even the sale of digital currencies received as part of the payment for the provision of a service or sale of some good.

“In this way, Córdoba becomes the first sub-national jurisdiction to start regulating operations with crypto assets, with all the challenges that this activity poses,” said Zocaro.

Purchase and sale of assets

Regarding the purchase and sale of assets, the consultant indicated that the tax base “will be made up of the difference between the sale and purchase prices, provided they are made by subjects who were used to make such operations.”

He also added that the tax law “establishes tax rates ranging from 4 % to 4.5 % for services provided by exchanges and from 4 % to 6.5 % for the buying and selling digital currencies.”

K. Villarroel

Source: Cointelegraph