ARBA eliminates tax withholdings on special real estate accounts

The Agency for Revenue Collection of the Province of Buenos Aires (ARBA) has implemented a new measure to simplify tax compliance and promote the banking of real estate operations. In collaboration with Banco Provincia, special bank accounts used by real estate agencies to manage third-party funds will now be excluded from the tax withholding regime on credits.

The measure applies to accounts used for handling client money related to purchases, sales, rentals, and other services. By excluding these movements—which do not constitute the agency's own income—the initiative aims to prevent the accumulation of credit balances and avoid immobilizing resources belonging to third parties.

Cristian Girard, Executive Director of ARBA, stated that the move addresses historical problems within the sector by eliminating the generation of accumulated credit balances that occurred when managing client funds through the agencies' own accounts.