The regulation, published last Saturday, December 27, in the Official Gazette of Argentina, includes the so-called “30% tax” for the purchase of dollars or for the new framework that will govern the personal property tax. In this way, a 30% increase will be applied for all transactions, either for savings as well as for credit card purchases abroad, in any expense that is in dollars.
We cleared a very frequent question that arose after the regulation was approved: what happens if you have made a purchase in dollars, but the 30% charge has not yet been made?
If the individual has saved dollars and pays in dollars, the tax does not apply. But if you don't have dollars and pay in pesos, the tax does apply.
According to President Alberto Fernández, the measure aims to strengthen public coffers, seeking to compensate for the depreciation that the currency has accumulated since January 2018. The current chief of staff, Santiago Cafiero, added that the lien aims to "take care of the dollars that the Argentine economy and revive the local tourism industry".
However, there was a change at the last moment with regard to the application of the levy in the sale of tickets abroad.
During an extensive debate in Deputies, it was determined that the 30% tax was not going to be applied to the acquisition of land, water and air passenger transport services as long as said operation does not require intervention by the Single Exchange-Free Market.
As a quick solution to this measure, our country has decided to issue prepaid cards that present benefits for tourists: they are given at the moment in more than 1000 stores and are accepted throughout the country, in addition to the return of taxes, but the VAT refund is still under discussion.
“The tourist interested in using this plastic money only has to arrive at the collection branch with their Argentine pesos, buy a card with a quote that fits as much as possible to suit them. Then, you just have to use it to pay instead of using cash: that's how you receive the Financial Inclusion bonuses that any Uruguayan tourist gets” Álvaro Moré, director of Young & Rubicam
The law also applies strong tax pressure and gives the government the possibility of raising taxes on grain and oil exports, given that the agricultural sector was the only one that grew despite the 2018 crisis.
The measure has already generated rapidity with the agricultural sector and it is expected that, in Uruguay, it will affect as little as possible the income of Argentines (around 400 thousand – 500 thousand in season) as well as the permanence of the travel agencies that are the First to retire when warning that the tourist harvest, will not be able to meet your expectations.
Material generated from the site information: Subrayado Digital