Argentina Cuts Taxes on Car Purchases and Sales, Streamlines Registration

The Argentinian government has taken steps to deregulate car registration processes and reduce taxes on car purchases and sales. The reform includes giving buyers the freedom to choose their preferred registration office and the creation of a unique digital file for each vehicle, along with a cap on registration office profits. The Ministry of Justice’s announcement detailed a reduction in transfer fees to 1% and the elimination of costs associated with issuing vehicle identification documents, titles, plates, registration plates, and the certification of up to two signatures. These changes are projected to save citizens approximately $36 billion annually. The government also plans to digitize vehicle files, replacing paper documentation. This is estimated to save the public administration an additional $1.3 billion monthly. The Ministry of Justice emphasized that these reforms mark a significant advancement towards modernizing the vehicle registration system by eliminating bureaucratic hurdles and fostering competition among registration offices. The digitization of the registration and transfer processes will allow individuals to choose any registration office in Argentina to register their vehicles, eliminating geographical restrictions.