Argentina Simplifies Income Tax System for Self-Employed

Argentina Simplifies Income Tax: ARCA Launches New System Argentina's tax agency, ARCA, is set to launch a simplified income tax system for the self-employed starting June 1st. This new system will significantly reduce the burden of tax filings for approximately 390,000 Argentinians. The change focuses on streamlining the process by emphasizing billing information and removing the requirement for reporting personal consumption and asset details. "The new system will be available on the ARCA website from June 1st," stated ARCA head Juan Pazo during a press conference alongside Economy Minister Luis Caputo and Central Bank head Santiago Bausili. This simplification aims to ease the tax process for many self-employed individuals. The previous system required extensive documentation, including personal spending and asset information. This often proved challenging and time-consuming for many. The new system represents a significant step towards modernization and efficiency in Argentina's tax administration, promoting greater compliance and economic growth.