Business
Argentina — Business: Accounting
Argentina's Civil and Commercial Code requires all private legal entities, and anyone carrying on an organised economic activity or owning a commercial, industrial or service establishment, to keep accounting records. IFRS is mandatory for entities that issue shares or negotiable obligations under the control of the National Securities Commission (CNV), under FACPCE Technical Resolution 26 (for financial years starting on or after 1 January 2012). Other entities may use IFRS, IFRS for SMEs or the professional accounting standards issued by the FACPCE, which approved a unified Argentine accounting standard (RT 54) on 1 July 2022. Entities regulated by other bodies, such as banks, insurers, cooperatives and civil associations, are outside the mandatory IFRS rule. Confirm requirements for your company type with a local accountant.
Why this matters
Understanding Argentine accounting requirements is crucial for businesses operating in the country to avoid fines, penalties, and reputational damage.
Key facts
- The Civil and Commercial Code requires private legal entities, and persons carrying on organised economic activity, to keep accounting records.
- IFRS is mandatory (FACPCE RT 26) for entities issuing shares or negotiable obligations under CNV control, for financial years starting on or after 1 January 2012.
- Other entities may choose IFRS, IFRS for SMEs or the FACPCE professional accounting standards.
- The FACPCE approved a unified Argentine accounting standard (RT 54) on 1 July 2022.
- Entities supervised by other regulators (banks, insurers, cooperatives, civil associations) are not covered by the mandatory IFRS rule.
Steps
- Registration with CNV — Register the company with the CNV, providing required documentation, such as articles of incorporation and tax identification number.
- AFIP Registration — Register the company with the AFIP, providing required documentation, such as tax identification number and business registration certificate.
- Financial Statement Preparation — Prepare financial statements in Spanish, following IFRS guidelines and local accounting standards.
Common mistakes
- Assuming all Argentine companies must report under IFRS — it is mandatory only for entities under CNV control; others can use local professional standards.