*Argentina’s government led by President Alberto Fernández has announced a 27.7% increase on taxes that apply to the dólar tarjeta (‘card dollar’) exchange rate, bringing it to Ar$950 to the dollar. The changes, which were made via a resolution published by the tax authority (Afip) in the official bulletin, also establish that for transactions subject to the card dollar rate, income tax collection will increase from 45% to 100%, among other changes. The card dollar is the exchange rate applied to purchases made with Argentine credit or debit cards abroad. The move is seen as an attempt to protect limited dollar reserves. It follows changes introduced to the card dollar exchange rate along with two other exchange rates, the so-called ‘Qatar dollar’ and ‘solidarity dollar’, in October, which all relate to purchases made abroad or in foreign currency.
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LatinNews Daily - 24 November 2023
In brief: Argentina raises taxes on US dollar purchases
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