Argentina’s Deputies Pass Inocencia Fiscal II, Senate Next
Argentina's deputies backed Inocencia Fiscal II by 139 votes to 110. The bill widens the simplified income tax regime and still needs Senate approval. The post Argentina’s Deputies Pass Inocencia Fiscal II, Senate Next appeared first on The Rio Times .
Argentina's Chamber of Deputies approved tax reform Inocencia Fiscal II on the night of 26 August 2026. The bill passed with 139 votes in favour, 110 against and two abstentions. Deputies voted late on the lengthy 16-hour session. The legislation aims to simplify income tax returns for higher earners. Previously, income over 1 billion pesos blocked access, and assets over 10 billion pesos did the same.
The bill eliminates these caps, allowing higher earners into the regime. The taxpayer reviews a pre-filled return, edits it where needed and pays. ARCA replaced AFIP in 2024 as the tax agency. The bill also changes what counts as a significant discrepancy in a filed return. Now, a 15% gap below 5 million pesos avoids breaking the shield.
Above that line, filers have 15 business days to correct the return. The reform removes the requirement to report opening or closing wealth and justifications for spending during the fiscal year. Money entering the open enters only the final personal assets return. Fines for formal breaches drop 25% for individuals and small firms, while lapsed penalties fall by half if the taxpayer rectifies the underlying breach. The Senate will vote on the same text before anything becomes law.
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