Argentina reduces tax on foreign currency acquisition for specific transactions, effective September 2024.

• Decree No. 777/2024 was published on 2 September 2024 in Argentina
• The tax on the acquisition of foreign currency was reduced from 17.5% to 7.5% for certain transactions
• The reduced tax applies to payments for freight services, transport services for import/export operations, and import of goods (with exceptions)
• The Decree is applicable to operations from 2 September 2024
• The tax was created by Law No. 27,541 in December 2019 for Argentine tax residents
• The reduction in tax is for specific transactions outlined in the Decree, including importation of goods and transport services

Source: insightplus.bakermckenzie.com

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.

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