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08 December 2025

Argentina allows exporters to convert and display tax credit balances and export refunds in US dollars

  • General Resolution No. 5,792/2025, published on 25 November 2025, establishes an option for foreign trade operators in Argentina to convert and display balances in favor of national taxes and export refunds in US dollars, for amounts accumulated or formalized as of 31 October 2025.
  • To exercise the option, the taxpayer must submit an online request between 5 December 2025 and 1 March 2026.
  • Affected entities should evaluate the benefits of converting their available tax balances and export refunds to US dollars and take care to timely access this option.
 

Executive summary

The Argentine Tax Authority (ARCA) published General Resolution No. 5792/2025 (the Resolution) in the Official Gazette on 25 November 2025, allowing certain taxpayers converting and display some balances in favor (i.e., positive balances) in United States (US) dollars.

Specifically, the Resolution allows taxpayers that submitted requests for refunds of balances in favor of national taxes related to foreign trade operations through a special refund regime and/or requests for payment of export reimbursements, accumulated or formalized as of 31 October 2025 to request that these amounts to be expressed in US dollars, in accordance with Resolution No. 1,834, issued by the Ministry of Economy in November 2025.

The option period runs from 5 December 2025 to 1 March 2026, and requests should be submitted through the service "Option to convert/expose balances Res 1834/2025 — MEC" (Opción de conversión/exposición de saldos Reso.1834/2025 - MEC, in Spanish) on the ARCA's webpage.

Requests for refunds of tax balance in favor available related to foreign trade operations

The option may be exercised in full or in part for each refund request, provided that two conditions are met:

  1. The request was submitted before 31 December 2025 (under the terms of General Resolution No. 2,224).
  2. The request was approved and notified before 1 March 2026 and remains unpaid as of that date.

Export reimbursements

The option may be exercised for export refunds registered as of 31 October 2025, with "Refund generated" (Devolución generada, in Spanish) status and pending payment.

From 2 March 2026, a certificate of all credits for which the option was exercised will be available. A credit will be generated in the MALVINA (SIM) system and will be available for compensation against other taxes or refund since 1 January 2027. For these purposes, the buyer's exchange rate from the Banco de la Nación Argentina corresponding to the day prior to the compensation or refund must be considered. The taxpayers that opt for this mechanism will renounce the interest accrued on the requested amounts since the moment of option and will not be able to claim a refund for those amounts for any other mechanism.

Implications

Multinational entities with business operations incorporated or located in Argentina should evaluate accessing this option to convert into US dollars their balances from foreign trade operations and/or requests for payment of export refunds.

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Contact Information

For additional information concerning this Alert, please contact:

Pistrelli, Henry Martin & Asociados S.A., Buenos Aires

Ernst & Young LLP (United States), Latin American Business Center, New York

Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

Document ID: 2025-2449

 
 

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