- End of Impuesto PAIS: As of December 23, 2024, Argentina has eliminated the five-year emergency tax known as “Impuesto PAIS,” which was imposed on certain purchases of foreign currency for payments abroad.
- Previous Tax Rates: The Impuesto PAIS had varying rates, including 7.5% on freight and transportation services, 7.5% on most imports, and 25% on the import of services, aimed at regulating foreign currency transactions.
- Continued Reverse Withholding Regime: Despite the elimination of Impuesto PAIS, a 30% reverse withholding tax remains in effect for certain cross-border transactions involving foreign currency purchases, which can be credited against Corporate Income Tax for companies operating in Argentina.
Source EY
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