Finally, the use of credit cards aborad will have a tax of 35%


Argentina, January 26, 2014

Uncertainty reigns after the government’s decision to release the purchase of dollars for savings and lower charges for overseas purchases from 35% to 20 % after the statements that Economy Minister Axel Kiciloff gave in an interview with Página/12.

Last Friday, after accompanying the Cabinet Chief Jorge Capitanich in the announcement on the reduction of restrictions on access to dollars Kicillof gave some details of the new measures in a dialogue with Victor Hugo Morales for Radio Continental.

There, the minister said that the purchases abroad will have a tax of 20% since Monday, reducing it a 15%.

According to his statements, withholding tax on profits would fall from 35% to 20% when individuals use credit card abroad.

Today, just two days later, he gave an interview with Pagina/12 in which he reverses and ensures that only will lower that rate to buy dollars to hoarding.

He said “rates for tourism and for card spending abroad, over 35 to 20 percent will not be implemented on Monday”.

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