Argentina’s Revenue and Customs Control Agency1 issued General Resolution 5604/2024 on 26 November, eliminating the 95% prepayment that had been required for the Impuesto PAIS (i.e., tax rates on purchases of foreign currency for the payment abroad of certain goods and services). (For background, see EY Global Tax Alert, Argentina reduces Impuesto PAIS tax rate, dated 3 September 2024.)
The modification is driven by the fact that the Impuesto PAIS (created by Law 27,541) expires on 22 December 2024 and the term established by the Argentine Central Bank for accessing the foreign exchange market to make payments for imports is 30 days from the customs entry registration.
The Resolution is effective as from the date of its enactment and, consequently, for import clearances officialized since 26 November, the payment on account of the Impuesto PAIS is no longer required.
Source EY
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