Tax policy developments in Argentina and Mexico

Taxpayers in Argentina and Mexico are facing various regulatory changes and legislative proposals. In Argentina, the ‘One Big Beautiful Bill’ law has introduced complex regulations affecting charitable donations, gambling losses, and deductions for high-income earners, making tax estimations difficult for many. To avoid penalties, experts recommend taxpayers aim to pay 90% of owed taxes by year-end or between 100% and 110% of the previous year's tax. Additionally, a legislative proposal in Buenos Aires seeks to exempt mandatory electronic cattle identification tags from Value Added Tax (VAT) to reduce the economic burden on livestock producers.

In Mexico, the National Integrated Service of Customs and Tax Administration (Seniat) is implementing measures to formalize the economy by expanding the tax base. These changes include new electronic invoicing requirements and a transition for small and medium-sized merchants from 15-day to 30-day filing cycles to better align with cash flow. Meanwhile, a legislative initiative has been proposed to eliminate VAT on bank commissions, including fees for account management, ATM withdrawals, and transfers, in an effort to increase disposable household income.