Tax policy changes impact taxpayers in Argentina and Mexico

In Argentina, taxpayers are navigating complex changes resulting from the ‘One Big Beautiful Bill’ law, which took effect in 2026. These regulations affect charitable donations, gambling losses, and deductions for high-income earners. While certain benefits for seniors, overtime, and tips remain, the interplay of new additions and eliminations has made precise tax estimations difficult. Experts suggest verifying withholdings and estimated payments to avoid underpayment penalties, noting that taxpayers should aim to pay 90% of the owed tax by year-end or 100% to 110% of the previous year's tax depending on income levels.

In Mexico, the National Integrated Service of Customs and Tax Administration (Seniat) has announced measures to formalize the economy by expanding the tax base. New regulations include modified criteria for determining special versus ordinary taxpayers and the implementation of electronic invoicing. A significant change allows small and medium-sized merchants, previously classified as special taxpayers with 15-day filing obligations, to transition to ordinary taxpayers with 30-day cycles. These adjustments aim to align tax obligations with actual cash flow and constitutional principles of economic capacity and justice.