Gone are the days when Argentines paid mostly with cashgiving way to the card payments, QR and immediate transfers. The latter have gained ground, both for personal payments and for commercial activitiesdue to its practicality.
However, as it is an operation that is carried out in the formal financial system, frequent doubts arise related to the taxes, withholdings and tax obligations that can be generated depending on the type of operation.
What taxes may apply to a bank transfer
Not all transfers generate the payment of taxes. The tax burden depends, to a large extent, on the origin of the funds and the tax situation of the person receiving the money. In this framework, one of the most relevant taxes is the Tax on Gross Income.
In many cases, the banking entities Automatic withholdings apply to the accreditations received. These withholdings are usually around 2.5%, although they may vary depending on the jurisdiction and the taxpayer’s tax profile.
If an additional difference must be paid, this is canceled by means of a Electronic Payment Flyer (VEP)unless the user is attached to the unified monotax.
Another tax that may appear is the Tax on Credits and Debits in current accountknown as Check Tax. This tax has a rate of 0.6% and is applied to certain bank transactions, depending on the type of account and the operation carried out.
Additionally, when a transfer is linked to a commercial activitymay generate additional obligations. For example, if the money corresponds to a sale of goods or services, the recipient must issue the corresponding invoice in accordance with current regulations.
In which cases a transfer pays taxes
There are situations in which receiving a transfer implies a tax burden. This occurs mainly when the funds represent income obtained from taxes.
Among the most common cases are commercial operations, where the money received corresponds to the sale of products or the provision of services. In these scenarios, taxes may apply such as Gross Income, VAT or Profitsdepending on the regime in which the taxpayer is found.
Those movements that are subject to the Check Taxdepending on the type of account used. In general, the fiscal responsibility It falls on whoever receives the money, since they are the ones who must declare that income within their economic activity.
When a transfer is not covered by taxes
Just as there are taxed operations, there are also transfers that do not generate tax obligations. Among them, movements between own accounts stand out, as long as there is no change of ownership.
Nor are the transfers made by end users that do not carry out commercial activity, nor those that are carried out from or to demand accounts for judicial use.
In these cases, the concept that is assigned to the transfer serves a purely informative function and has no direct tax impact. That is, it does not generate or avoid the payment of taxes by itself, since the tax burden is defined by the origin of the funds and not by the movement itself.
Transfers between own accounts: what to take into account
One of the points that generates the most queries is the treatment of transfers between accounts of the same owner. In general terms, this type of operations is not subject to taxes, since it does not imply the generation of new income.
The reason is that taxes are applied when the money first enters the financial systemthat is, at the time you become banked. If those funds were previously reported or taxed, moving them between accounts does not create a new tax obligation.
However, in some cases the Check Taxdepending on the type of account and the specific conditions of the operation. Even so, the regulations contemplate certain exemptions, especially when it comes to transfers between own accounts within the same account. banking entity.
Therefore, move money between own accounts It does not generate additional taxes as long as there is no change of ownership nor is it an operation that conceals a different economic activity.
