Argentina’s PAIS Tax (or Tax for an Inclusive and Solidary Argentina) is a tax that applies to the direct or indirect purchase of foreign currency.
The maximum applicable tax rate of this tax is 30 percent. Digital services that are already subject to VAT remain taxed at 8 percent.
More specifically, the PAIS Tax applies to those transactions where residents directly acquire foreign currency through the official exchange market, or when they do so indirectly by making payments abroad, mainly through the use of credit cards, or by international transfers from Argentina.
The PAIS Tax applies to the total amount of the transaction through which residents directly or indirectly acquire foreign currency through the official exchange market.
On July 24, 2023, the national government issued… Read more