Misiones to exempt virtual wallet transfers from Ingresos Brutos tax

The province of Misiones will eliminate the Ingresos Brutos (IIBB) tax on transfers between virtual wallets starting August 1, setting a monthly exemption cap at $2,184,404. Governor Hugo Passalaqua announced the measure, estimating it will benefit around 200,000 users in the province.

"Today, virtual wallets are fundamental for managing your daily economy: whether for transferring, sharing expenses, or helping a family member," Passalaqua stated on social media. He instructed the Minister of Finance to implement the exemption, emphasizing the goal of simplifying financial transactions for all residents of Misiones.

The IIBB tax on virtual wallet transactions is currently applied through the SIRCUPA system in 20 provinces. However, the collection from this tax is considered marginal, as it only affects contributors to the IIBB regime and not monotributistas unified with ARCA. Provinces like Buenos Aires have already extended similar perceptions to platforms such as Mercado Pago, Ualá, and Naranja X, sparking tensions with financial technology companies.

“

Today, virtual wallets are fundamental for managing your daily economy: whether for transferring, sharing expenses, or helping a family member. That's why I instructed the Minister of Finance to ensure that, starting August 1st, transfers received in virtual accounts are exempt from Ingresos Brutos withholdings, with a monthly cap of up to $2,184,404.

Mercado Libre has previously criticized these taxes as "unfair" and "distortive," arguing that they tax total turnover rather than profits, negatively impacting consumers, hindering SMEs, and discouraging economic digitalization. The national Ministry of Economy has also been advocating for the elimination of such distorting taxes, pressuring provinces to reduce their tax burdens.

This is not the first tax relief measure from Passalaqua's administration. On May 1, he announced the elimination of IIBB on "internal customs" at road checkpoints. The provincial Ministry of Economy indicated that this latest measure will streamline entry into the province, with only about 870 companies continuing to pay under a global payment regime.

“

We continue working to simplify your life and the lives of all the people of Misiones, so that each family can dispose of their resources more directly, quickly, and easily.