Argentina applies tax on purchases of foreign currency in new transactions, provides preferential foreign-exchange rate to certain exported goods

• Two new decrees in Argentina enacted certain tax and foreign exchange measures.
• Decree No. 377 extends the application of the tax “Impuesto PAIS” (in Spanish) to the acquisition of foreign currency under certain conditions.
• Decree No. 378 instructs the Central Bank of the Argentine Republic to establish a mechanism through which Argentine exporters that liquidate foreign currency corresponding to certain regional economies’ goods by 31 August 2023 settle those funds at ARS 340.

Source EY

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