How to Report Staking Rewards in Argentina: Complete Tax Guide 2024

Understanding Staking Rewards Taxation in Argentina

As cryptocurrency adoption grows in Argentina, staking has become a popular way to earn passive income. However, many investors are unaware that staking rewards are taxable under Argentine law. The Administración Federal de Ingresos Públicos (AFIP) considers staking rewards as taxable income, similar to interest or dividends. Whether you’re staking Ethereum, Cardano, or other proof-of-stake cryptocurrencies, you must declare these earnings in your annual tax return. Failure to report can result in penalties ranging from 50% to 100% of the unpaid tax, plus interest. This guide explains Argentina’s specific reporting requirements to help you stay compliant.

Step-by-Step Guide to Reporting Staking Rewards

1. Calculate Your Annual Rewards: Sum all staking rewards received during the fiscal year (January 1 to December 31) using exchange records or wallet statements. Convert values to Argentine Pesos (ARS) using the official AFIP exchange rate on the date of receipt.
2. Determine Taxable Amount: Argentina taxes staking rewards as “Rentas de Capital” (Capital Income) under Category IV. The entire reward amount is taxable, minus any verifiable operational costs directly related to staking activities.
3. Complete Form 572: Report your earnings in Section B of AFIP’s Form 572 (Declaración Jurada de Ganancias). Use code 311 for “Rendimientos de criptoactivos por staking” when declaring.
4. File Through AFIP’s Website: Submit your tax return electronically via AFIP’s “Monotributo” portal or through a certified tax professional before the annual deadline (typically June/July).
5. Retain Documentation: Keep detailed records for 10 years, including exchange statements, wallet addresses, conversion calculations, and proof of tax payment.

Required Documentation for Reporting

• Monthly statements from cryptocurrency exchanges showing staking rewards
• Wallet transaction histories with timestamps and reward amounts
• AFIP exchange rate records for conversion dates
• Receipts for expenses related to staking (e.g., hardware costs, electricity)
• Previous year’s tax return (Declaración Jurada) for reference

Tax Rates and Calculation Methods

Staking rewards are taxed at progressive rates based on your total annual income:

• Up to ARS 1,750,000: 5%
• ARS 1,750,001 – 3,500,000: 10%
• ARS 3,500,001 – 7,000,000: 15%
• Over ARS 7,000,000: 25%

Example Calculation: If you earned ARS 500,000 in staking rewards and your total annual income is ARS 2,000,000, your staking tax would be ARS 50,000 (500,000 × 10%). Remember to convert crypto rewards to ARS using the AFIP’s official exchange rate on the day you received them.

Common Reporting Mistakes to Avoid

• Ignoring Small Rewards: All staking income must be reported, regardless of amount
• Using Incorrect Exchange Rates: Always use AFIP’s daily published rates, not market rates
• Missing Deadlines: Late filings incur 2% monthly interest on unpaid taxes
• Forgetting Operational Costs: Deduct verifiable expenses like mining equipment or node maintenance fees
• Poor Record Keeping: AFIP may request transaction histories up to 10 years back

Frequently Asked Questions (FAQ)

Are staking rewards taxed differently than mining rewards?

No. AFIP treats both staking and mining rewards as Category IV capital income subject to the same progressive tax rates. The key difference is documentation: staking typically generates automated records through exchanges, while mining may require additional proof of operational costs.

Do I need to report if I restake my rewards?

Yes. Rewards are taxable upon receipt, even if automatically restaked. The moment tokens are credited to your wallet, they’re considered income at that day’s ARS value.

How does AFIP track cryptocurrency earnings?

AFIP collaborates with local exchanges under Resolution 4618/2020, requiring transaction reporting. They also use blockchain analysis tools. Since 2022, over 12,000 taxpayers have been audited for crypto income non-compliance.

Can I deduct losses from staking?

Yes, but only if you’re registered as a monotributista or responsible inscripto. Operational losses (e.g., slashing penalties) can offset rewards if properly documented with receipts and technical reports.

What if I use international exchanges?

You still must declare earnings. Use the exchange’s USD value at reward time, converted to ARS via AFIP’s rate. Maintain records in both currencies. Non-Argentine platforms still fall under CRS (Common Reporting Standard) agreements.

Is there a tax-free threshold for staking?

No specific exemption exists for staking. However, if your total annual income is below the non-taxable minimum (currently ARS 1,750,000), you may owe no tax. Consult a local contador público for personalized assessment.

Staying Compliant in Argentina’s Evolving Crypto Landscape

With AFIP increasing crypto tax enforcement, proper reporting of staking rewards is essential. Recent regulations like Law 27,739 show Argentina’s commitment to cryptocurrency taxation. Always convert rewards to ARS using official rates, document every transaction, and consider consulting a specialized tax professional. As blockchain technology evolves, staying informed through AFIP’s official channels ensures you avoid penalties while legally maximizing your staking returns.