How to Report Staking Rewards in Argentina: Your Essential Tax Guide

As cryptocurrency staking gains popularity in Argentina, understanding how to properly report staking rewards to AFIP (Administración Federal de Ingresos Públicos) is crucial. Staking rewards are considered taxable income under Argentine law, and failure to declare them can result in penalties. This comprehensive guide breaks down the reporting process step by step, helping you stay compliant while maximizing your crypto investments.

Understanding Staking Rewards Taxation in Argentina

In Argentina, staking rewards fall under “Rentas de Cuarta Categoría” (Fourth Category Income) as they’re classified as returns on capital. Key principles:

• Taxable Event: Rewards become taxable upon receipt, not when sold
• Valuation: Use the ARS equivalent at the moment of reward distribution (official exchange rate)
• Tax Rate: Progressive scale from 5% to 35% based on total annual income
• Reporting Threshold: All rewards must be declared regardless of amount

Step-by-Step Guide to Reporting Staking Rewards

1. Track All Rewards

   Use crypto tax software or spreadsheets to record:

   • Date of each reward
   • Cryptocurrency amount received
   • ARS value at time of receipt (use BCRA exchange rate)
2. Calculate Total Taxable Income

   Sum the ARS value of all rewards received during the fiscal year (January 1 – December 31). Include rewards from all blockchains (Ethereum, Cardano, Solana, etc.).

3. Complete Form 572

   In the annual income tax return (Declaración Jurada):

   • Report under “Ganancias de Cuarta Categoría”
   • Specify as “Rendimientos por Staking de Criptoactivos”
   • Attach Form 572 detailing each transaction if total crypto income exceeds ARS 1,000,000
4. Pay Applicable Taxes

   Taxes are due annually by:

   • April for paper filings
   • June for digital filings via AFIP’s “Monotributo” system

Essential Documentation for AFIP Compliance

Maintain these records for 10 years:

• Exchange statements showing reward distributions
• Wallet transaction histories with timestamps
• Screenshots of exchange rates on reward dates (from BCRA or reliable sources)
• Reconciliation of ARS conversions

Common Reporting Mistakes to Avoid

• Using incorrect exchange rates: Always use the official BCRA selling rate on the exact reward date
• Omitting small rewards: Even fractional amounts must be declared
• Missing deadlines: Late filings incur 2% monthly interest penalties
• Confusing staking with mining: Different tax categories apply

Frequently Asked Questions (FAQ)

Do I need to report staking rewards if I immediately reinvest them?

Yes. Rewards are taxable upon receipt regardless of whether you hold, sell, or reinvest them. The taxable event is the moment they enter your wallet.

How does AFIP know about my crypto staking?

Through:

• Exchange reporting requirements (Law 27,430)
• Bank transaction monitoring
• Cross-border information sharing (CRS)

Non-compliance risks audits and fines up to 200% of evaded tax.

Can I deduct staking-related expenses?

Yes, eligible costs include:

• Hardware depreciation (staking nodes)
• Electricity costs (proportional to staking activity)
• Exchange fees

Maintain detailed records and receipts for deductions.

What if I stake through a foreign platform?

You still must declare rewards to AFIP. Foreign-sourced crypto income follows the same reporting rules. Use Form 720 for foreign asset disclosure if holdings exceed ARS 1,000,000.

Are stablecoin staking rewards taxed differently?

No. All staking rewards – whether from volatile coins or stablecoins – are treated as taxable income at their ARS value when received.

Staying Compliant in 2024

With AFIP increasing crypto tax enforcement, accurate reporting of staking rewards is essential. Consider consulting a contador público matriculado (certified accountant) specializing in crypto taxation. Update your records monthly using tools like:

• AFIP’s “Mi Argentina” app
• Crypto tax software (Koinly, CriptoYa)
• BCRA’s historical exchange rate portal

Proper compliance protects your assets while supporting Argentina’s evolving crypto ecosystem.