The national government resolved that consumption in foreign currency with a credit and debit card on tickets and tourist packages that exceed US$300 per month will pay an extra 25% advance payment of the Personal Property Tax, which will result in an exchange rate of $300 based on current values.
The measure also covers what is considered sumptuary or “luxury” goods purchased abroad, such as high-end cars and motorcycles, private jets – small planes; recreational boats – boats; premium alcoholic beverages; watches, pearls, diamonds and other precious stones, slot machines and cryptocurrency mining machines, the informants added.
Considering a dollar exchange rate of the Banco Nación of $150, if the PAIS Tax (30%), the collection on account of Profits (45%) and the collection of 25% on account of Personal Assets are added, the value of the trade per dollar will be $300.
If the August data is taken into account as a parameter, 93% of people with consumption in dollars with cards, who usually use it to pay for applications and streaming, will not be affected
Consumption for less than US$300 per month will continue to pay the current exchange rate of $262, corresponding to the official exchange rate plus the PAIS Tax and the 45% Income Tax withholding.
The objective of the measure -which will come into force this Wednesday after its publication in the Official Gazette- is to avoid the establishment of quotas and favor market access for the importation of intermediate or necessary goods for local production, at the same time as makes access more expensive for non-essential activities and for a small segment of the population.
In this sense, some 3 million people made consumption with a card in dollars last August, of which 2.8 million made expenses for less than US$300 in the month, at an average of US$22 dollars each -equivalent to 19% of the total monthly card expenses.
The objective of the measure -which will take effect this Wednesday after its publication in the Official Gazette- is to avoid the establishment of quotas and favor market access for the importation of intermediate or necessary goods for local production.
While 200,000 people spent more than US$300 -for an average amount of US$1,314, equivalent to 81% of total card expenses-.
If the August data is taken into account as a parameter, 93% of people with consumption in dollars with cards, who usually use it to pay for applications and streaming (Youtube, Spotify, Netflix, etc.), will not be affected, assured the sources before a Télam query.
Finally, services contracted abroad for recreation and artistic activities such as recitals, sports activities, among other entertainment expenses, must pay the 30% country tax to transfer dollars abroad. In addition, each person from abroad (for example, a musical artist) receives the withholding of the income tax that is applied by the local person who pays for the hiring.
