Accounting in Argentina: standards, taxes and GoSoft
Accounting guide for Argentina: Customs Collection and Control Agency (ARCA, formerly AFIP) and each province's agency, IVA 21 %, accounting framework, books, e-invoicing, tax returns and how to set up GoSoft.
Key facts
| Item | Detail |
|---|---|
| Tax authority | Customs Collection and Control Agency (ARCA, formerly AFIP) and each province's agency |
| Currency | ARS · Argentine peso |
| Tax ID | CUIT |
| Consumption tax | IVA · 21 % |
| Income tax | Corporate Income Tax (Ganancias) with a 25 %, 30 % and 35 % scale. |
| Fiscal year | The company sets its year-end in its bylaws (many close on December 31). |
| E-invoicing | ARCA electronic invoice with CAE; type A (between registered VAT taxpayers), B (to final consumers and exempt) and C (monotributo). |
Accounting framework
FACPCE professional accounting standards (Technical Resolutions); listed companies apply IFRS.
Chart of accounts
There is no mandatory chart of accounts: the company defines it according to its framework. GoSoft ships a base chart you can adapt.
Financial statements
In Argentina the four statements are presented with these names (GoSoft uses them in its reports and PDFs):
- Statement of financial position
- Income statement
- Statement of changes in equity
- Statement of cash flows
Mandatory books and records
Stamped books (Journal and Inventories and Balances) and monthly Digital VAT Book.
Periodic tax returns
Monthly VAT, provincial gross income tax (or Multilateral Agreement), withholdings and perceptions (SICORE/SIRE) and annual income tax.
What you need to know
- General VAT 21 %, reduced 10.5 % and 27 % for utilities (electricity, gas, telephone) to registered taxpayers.
- Only type A invoices allow a VAT input credit; B and C do not.
- Gross Income Tax is a provincial tax on turnover, with its own withholdings and perceptions.
Taxes and withholdings in GoSoft
These are the reference taxes and withholdings GoSoft loads for Argentina. You adjust them in Taxes and withholdings (rate, minimum base and ledger account).
| Code | Name | Type | Applies to | Rate |
|---|---|---|---|---|
IVA21 | VAT 21% | VAT | sales and purchases | 21 % |
IVA10.5 | VAT 10.5% | VAT | sales and purchases | 10.5 % |
RET-GAN-BIENES | Income tax (Ganancias) withholding · goods | Income | payments to suppliers (withholding) | 2 % |
RET-GAN-SERV | Income tax (Ganancias) withholding · services | Income | payments to suppliers (withholding) | 2 % |
RET-IVA | VAT withholding | VAT | payments to suppliers (withholding) | 50 % |
RET-IIBB | Gross receipts tax withholding | Municipal | payments to suppliers (withholding) | — |
How to set up GoSoft for Argentina
In My company, choose the country Argentina and the currency ARS.
When you log in again, GoSoft shows Updating the accounting setup for Argentina: it codes the chart of accounts, loads the country's taxes and checks the settings. It happens only once.
In Chart of accounts → Options, review the coding and download the chart as a PDF for your accountant to approve.
In Financial reports → Taxes and withholdings, confirm the rates and choose the ledger account for each tax.
Record activity (manually or from the modules) and use Tax returns to prepare each period's drafts.
Rates and deadlines change. Before filing, confirm what is current at Customs Collection and Control Agency (ARCA, formerly AFIP) and each province's agency and with your accountant.