- Decree issued on 13 December 2023 increased the rate of the tax on foreign currency exchange transactions
- A subsequent decree released on 4 January 2024 removed some transactions from the scope of the tax
- The tax applies to foreign currency exchange transactions carried out by Argentine financial entities on behalf of local acquirers or borrowers
- The tax is applicable to Argentine tax residents on the cancellation or payment for goods and services from a foreign source
- The rate of the tax is increased from 7.5% to 17.5% for certain transactions
- Transactions involving the temporary admission regime and the introduction of goods into free trade zones are excluded from the tax
- The purchase of foreign currency for the acquisition of services abroad and the acquisition of services in Argentina provided by nonresidents are subject to different tax rates.
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
