Calculate Your 15% Cedular Investment Income Tax (Argentina)
Argentina's cedular tax on investment income (impuesto cedular sobre renta financiera) is a flat 15% levy introduced by Law 27,430 in 2018. It applies to realized gains from financial instruments held by individuals and undivided estates: foreign-currency bonds, equities, CEDEARs, mutual funds, crypto assets, and dividends from Argentine corporations. This calculator gives you the instant tax amount and net gain for any realized profit, so you can plan your trades and annual tax return (DDJJ Ganancias) without surprises.
When to use this calculator
- Estimating the tax bill before selling CEDEARs or Argentine ADRs listed on the NYSE/MAE
- Checking how much of a USD bond coupon or capital gain you will keep after cedular tax
- Planning cryptocurrency disposals and knowing your net proceeds before filing the DDJJ
- Comparing after-tax returns across different financial instruments to optimize your portfolio
Worked Example: Selling CEDEARs
- You bought Apple (AAPL) CEDEARs at a cost basis equivalent to USD 8,500
- You sold them for the equivalent of USD 12,000, realizing a gain of USD 3,500
- Cedular tax: USD 3,500 × 15% = USD 525
- Net proceeds you keep: USD 3,500 − USD 525 = USD 2,975
How it works
1 min readWhat Is the Cedular Investment Income Tax?
Argentina's cedular tax regime was introduced by Law 27,430 (December 2017, effective January 2018) and is regulated by ARCA (ex-AFIP) General Resolution 4,468. It replaced the general progressive income tax schedule for financial investment income with a flat cedular (schedular) rate, making the calculation straightforward.
The tax is filed annually on the DDJJ Ganancias (personal income tax return) of individuals and undivided estates. It is NOT withheld at source for most instrument types — you self-assess and pay when you file.
How It's Calculated
The formula is a single-step multiplication:
Cedular Tax = Realized Gain (USD) × Tax Rate
Net Gain = Realized Gain − Cedular TaxTax Rate: 15% (flat) for all in-scope instruments.
Realized Gain is computed as:
Realized Gain = Sale Price − Adjusted Cost BasisFor foreign-currency assets, both the sale price and cost basis are converted to USD at the exchange rate on the respective transaction dates (not the same date).
What's Taxed at 15%
| Instrument | Taxed? |
|---|---|
| Dividends from Argentine S.A. corporations | Yes — 15% |
| Capital gains on Argentine equities (acciones) | Yes — 15% |
| CEDEARs (capital gains and dividends) | Yes — 15% |
| USD-denominated bonds (Globales, Bonares) — coupons and gains | Yes — 15% |
| Mutual fund distributions (FCI) | Yes — 15% |
| Cryptocurrency gains (realized) | Yes — 15% |
| Peso fixed-term deposits (plazo fijo en pesos) | Exempt |
| Peso-denominated government bonds (e.g. Lecaps) | Exempt |
Loss Offsetting
Losses within the cedular category can be offset against gains in the same category within the same fiscal year. A net loss can be carried forward to future years within the same cedular category. You cannot offset cedular losses against regular (4th category) income.
Final Notes
This calculator provides an informational estimate only. The cedular tax regime is subject to legislative changes. For your actual DDJJ filing, consult a Contador Público Matriculado (CPN) or a registered tax advisor. Always verify current rates with ARCA before filing.
Last reviewed: June 2026 against ARCA official guidance and Law 27,430.
Frequently asked questions
What is the cedular tax rate on investment income in Argentina?
The flat rate is 15% on realized gains from financial instruments (stocks, bonds, CEDEARs, crypto, dividends). This rate was set by Law 27,430 in 2018 and remains in effect for 2026.
Are peso-denominated fixed-term deposits (plazo fijo en pesos) subject to the cedular tax?
No. Interest from peso-denominated fixed-term bank deposits is explicitly exempt under Law 27,430. Only foreign-currency instruments and equity investments fall within the cedular regime.
How is the gain calculated for CEDEARs?
CEDEARs (Certificados de Depósito Argentinos) are treated as foreign-currency equity instruments. Your taxable gain is the difference between the sale price and the purchase cost basis, both expressed in USD using the official (MEP or reference) exchange rate on each respective transaction date. Dividends received through CEDEARs are also taxed at 15%.
Is cryptocurrency taxed under the cedular regime?
Yes. Since Law 27,430 and clarified by subsequent ARCA guidance, realized gains from the sale of cryptocurrencies (BTC, ETH, stablecoins, etc.) are subject to the 15% cedular tax. The gain is computed in USD based on acquisition cost and sale proceeds.
Can I offset investment losses against gains to reduce my cedular tax?
Yes. Losses within the cedular financial income category can offset gains in the same category within the same fiscal year. Any net loss remaining can be carried forward to future years within the same category. You cannot use cedular losses to reduce your salary or other 4th-category income.
When do I report and pay the cedular tax?
The cedular tax is reported annually in the DDJJ Ganancias Personas Humanas (annual personal income tax return). The filing deadline is typically between June and August of the year following the tax year. Unlike dividends paid by large corporations (where a 7% withholding may apply), most cedular income requires self-assessment — there is no routine payroll-style withholding.
Are dividends from Argentine companies taxed at 15%?
Yes. Dividends distributed by Argentine S.A. corporations to individual shareholders are subject to cedular tax at 15%. If the paying company is large enough to be subject to corporate tax at 35%, it may withhold 7% at source; the remaining 8% is assessed when the shareholder files. For distributions from companies not subject to the 35% rate, the full 15% applies.
Does the cedular tax apply to gains from Argentine government bonds (e.g. AL30, GD30)?
Yes. Capital gains and coupon interest on USD-denominated sovereign bonds (Globales, Bonares, AL/GD series) are taxed at 15% as foreign-currency fixed-income instruments. Peso-denominated instruments like LECAPS are exempt.
Does this calculator handle the cost-basis currency conversion?
No — this calculator computes the tax on a gain you have already expressed in USD. You must determine your USD gain separately (sale proceeds in USD minus USD cost basis). For assets purchased in pesos, the conversion rate at each transaction date applies — consult a tax professional for complex multi-leg trades.