How to Report Airdrop Income in Argentina: Complete Tax Guide 2024

Understanding Airdrop Taxation in Argentina

In Argentina, cryptocurrency airdrops – free distributions of tokens to wallet holders – are considered taxable income by the Administración Federal de Ingresos Públicos (AFIP). Whether you received tokens for holding specific cryptocurrencies, participating in promotions, or completing tasks, these assets have monetary value at the time of receipt and must be declared. Argentina treats airdrops as “otros ingresos” (other income) subject to Income Tax (Ganancias) under Section 82 of the tax code. The taxable event occurs when you gain control of the tokens, not when you sell them. With AFIP intensifying crypto surveillance through exchanges and blockchain analysis, proper reporting is essential to avoid penalties of 2-4 times the evaded tax plus interest.

Step-by-Step Guide to Declare Airdrop Income

1. Determine Market Value at Receipt: Calculate the ARS value of tokens when they arrived in your wallet using exchange rates from reputable platforms (e.g., Binance, Buenbit) on that date.
2. Classify Income Type: Most airdrops qualify as “Rentas de Cuarta Categoría” (non-labor income). Professional traders might classify them as business income.
3. Complete Form 572: In the annual Income Tax return (Declaración Jurada), use Section G “Otros Ingresos” to report the total ARS value. Include:
   • Date of receipt
   • Token name and quantity
   • ARS equivalent value
   • Source wallet/exchange
4. Calculate Tax Owed: Apply progressive tax rates (5%-35%) based on your total annual income bracket. Use AFIP’s online simulator for accuracy.
5. Submit Before Deadline: File between April-June annually for the previous tax year. Keep transaction records for 5 years.

Common Reporting Mistakes to Avoid

• Ignoring Small Airdrops: AFIP requires reporting ALL income, even if below ARS 100,000 annual threshold.
• Using Incorrect Valuation Date: Tax basis is the value at receipt date, not when tokens are sold or claimed.
• Forgetting Subsequent Sales: When selling airdropped tokens later, you must report capital gains/losses separately.
• Mixing Personal & Investment Wallets: Maintain separate wallets for clearer audit trails.
• Overlooking Foreign Exchanges: Argentine residents must declare global income, including airdrops received on international platforms.

Tax Implications and Legal Considerations

Airdrop income stacks atop your total taxable earnings, potentially pushing you into higher tax brackets. For 2024, progressive rates range from 5% (for income up to ARS 1,750,000) to 35% (over ARS 7,000,000). Self-employed individuals pay additional monotax contributions. Note that staking rewards from airdropped tokens create new taxable events. Recent AFIP Resolution 5467 mandates exchanges to report user transactions, making non-compliance increasingly risky. Consult a crypto-savvy contador público (CPA) if you received high-value airdrops or complex DeFi tokens.

Frequently Asked Questions (FAQ)

Do I pay tax if I haven’t sold my airdropped tokens?

Yes. Taxation occurs upon receipt based on market value at that time. Subsequent sales trigger separate capital gains calculations.

How do I value airdrops in Argentine Pesos?

Use the ARS trading price on the receipt date from the exchange where you’d realistically sell (e.g., Binance ARS/BTC pair). Document screenshots for proof.

Are NFT airdrops taxable?

Yes. NFTs are considered digital assets subject to the same rules. Value them at fair market price upon receipt.

What if I received airdrops worth less than ARS 100,000?

You must still report them, though you may owe no tax if total “otros ingresos” stay below the non-taxable minimum. Always declare to avoid penalties.

Can I deduct transaction fees?

Gas fees paid to claim airdrops are deductible from the income amount. Maintain blockchain transaction records as evidence.

How does AFIP know about my crypto airdrops?

AFIP accesses data from Argentine exchanges (e.g., Lemon, Belo) and international platforms via CRS agreements. Blockchain analysis tools also trace large transactions.