Argentina's tax revenue totaled 21,608,201 million pesos (about 21.6 trillion) in October 2026, a nominal increase of 33.7% from October 2025, according to the Customs Collection and Control Agency (ARCA). Adjusted for inflation, real growth was minimal: 0.2% according to the calculations published by Infobae and 0.7% according to the Argentine Institute of Fiscal Analysis (Iaraf), cited by La Nación.
Behind the total there are two opposite stories. Income tax and export duties grew strongly, while VAT, excise taxes and import duties lagged inflation. This article summarizes ARCA's report, published on November 2, tax by tax.
How much ARCA collected in October 2026
The figures come from the monthly revenue report of ARCA, the agency that replaced AFIP and publishes its series in its statistics section. The amounts by tax below are those reported by ARCA and reproduced by La Nación.
| Tax | October 2026 (million pesos) | Nominal change | Real change (Iaraf) |
|---|---|---|---|
| Net VAT | 7,032,743 | +21.8% | −8.2% |
| Income tax | 5,085,492 | +55.1% | +16.9% |
| Social security | 5,033,064 | +33.8% | +0.9% |
| Bank debits and credits | 1,631,977 | +21.5% | n/a |
| Export duties | 870,052 | +238.4% | +155% |
| Total | 21,608,201 | +33.7% | +0.2% to +0.7% |
Source: ARCA; real changes calculated by Iaraf assuming 1.85% inflation for October, according to La Nación. INDEC will publish the official October inflation figure in mid-November, so the real change may shift.
October tax revenue: income tax and export duties lead
ARCA explained the jump in income tax by higher advance payments from companies and individuals, linked to a higher tax assessed for fiscal year 2025, and by individuals' second advance payment for fiscal year 2026. Higher withholdings and changes in the use of tax credits also added to the total.
The 238.4% rise in export duties is largely a calendar effect: in June, July and September 2025 exporters brought payments forward to take advantage of a temporary cut in duties, so October 2025 was a very low month. Better prices for soybeans, grains and hydrocarbons, plus higher exports of fuels and minerals, also helped, according to ARCA. Agricultural foreign-exchange sales reached US$2.88 billion in October, 48% more than a year earlier, according to the Ciara-CEC chamber cited by Infobae.
The taxes that fell in real terms
- VAT: net VAT grew 21.8% in nominal terms, about 8 points below inflation in real terms. Customs VAT fell 4.9% nominal, reflecting lower imports.
- Excise taxes: down 33.8% in real terms, the steepest drop of the month according to Iaraf.
- Import duties: down 31.9% in real terms (−9.6% nominal) due to tariff cuts and lower foreign purchases, according to ARCA.
- Bank debits and credits: up 21.5%, below inflation, because of a high base and new exemptions under decree 475.
Economist María Castiglioni of C&T Asesores Económicos warned La Nación that customs revenue is distorted by changes in the timing of operations, so it is best to look at several months before drawing conclusions.
Argentina's tax revenue so far this year
| Indicator | Figure | Source |
|---|---|---|
| Revenue January-October 2026 | 196 trillion pesos | ARCA, via Infobae and La Nación |
| Cumulative nominal change | +29% to +29.8% | La Nación / Infobae |
| Cumulative real change | −2.4% to −2.7% | Infobae / La Nación |
| Income tax January-October | 43,424,444 million pesos (+44.6%) | ARCA, via La Nación |
| Transfers to provinces in October | 7.27 trillion pesos (+32.8% nominal) | Iaraf, via Infobae |
The outlets disagree on the decimal of the cumulative figure because they use different inflation estimates. Either way, the year remains negative in real terms: the improvement in September and October does not yet offset the declines of the first half. Revenue figures should be read alongside the 2027 Budget being debated in Congress and the country risk above 800 points, because tax income is the basis of the surplus that Javier Milei's government presents to markets and the IMF.
What ARCA says about each tax
| Tax | Nominal change | Reason according to ARCA |
|---|---|---|
| Income tax | +55.1% | Higher advance payments by companies and individuals due to a higher tax assessed for 2025, second 2026 advance payment and higher withholdings |
| Export duties | +238.4% | Low base due to payments brought forward in 2025 and better prices for soybeans, grains and hydrocarbons |
| Domestic VAT | +30.5% | Lower refunds to exporters, partly offset by the use of credit balances and grain-regime refunds |
| Social security | +33.8% | Higher average gross pay and installments from payment plans |
| Fuels | +51.1% | Update of the tax component |
| Import duties | −9.6% | Tariff cuts and lower foreign purchases |
Source: ARCA, via La Nación and Infobae. For comparison, October 2025 had closed at about 16.2 trillion pesos, a figure implied by the 33.7% change reported by ARCA.
How much the provinces received through revenue sharing
Part of what ARCA collects is automatically shared with the provinces. In October, transfers through revenue sharing, special laws and compensations totaled 7.27 trillion pesos, against 5.47 trillion a year earlier: 32.8% nominal, with a slight real decline, according to Iaraf as cited by Infobae. By jurisdiction, 22 provinces posted positive real changes and 2 negative ones: Santa Cruz led with +1.6% and Buenos Aires province had the largest drop (−0.4%).
So far this year, transfers have reached 64.9 trillion pesos, 32.6% nominal and −0.6% real, and only Catamarca shows a positive real change. For governors, who are negotiating with the Casa Rosada over support for the 2027 Budget, this figure matters as much as the national total.
Frequently asked questions
How much did Argentina collect in October 2026?
21,608,201 million pesos, about 21.6 trillion, according to ARCA. That is 33.7% more than in October 2025.
Did revenue grow in real terms?
Barely: between 0.2% and 0.7% depending on the calculation, because year-on-year inflation was around 33%. It was the second straight month of real growth.
Which tax brought in the most?
Net VAT, with 7,032,743 million pesos, although it fell in real terms. Income tax and social security followed, with just over 5 trillion each.
Why did export duties rise so much?
Because October 2025 was a very low month: exporters had brought payments forward to earlier months due to a temporary cut. Better international prices also helped.
When is November revenue published?
ARCA usually reports it on the first business day of the following month, in early December.
