In depth
1. General considerations
On 19 December 2024, the Resolution was published in the official gazette.
The 30% collection regime is based on the Pais Tax, created by Law No. 27,541 of Social Solidarity and Productive Reactivations in the Framework of Public Emergency ("Emergency Law"). The Pais Tax will be applicable up to 22 December 2024, inclusive. This means that the 30% collection regime will continue to apply, despite the Pais Tax no longer being applicable.
The collection regime is applicable to Argentine tax residents (at rates of 30%) for the following activities:
- Acquisition of foreign currency — including travel checks — for saving purposes or without any specific purpose, related to the payment obligations under the terms of the existing FX regulations made by Argentine residents.
- Exchange of foreign currency made by Argentine financial entities, in the name of a local party, to pay for the acquisitions of goods or services rendered abroad, canceled using a credit, purchase or debit card, or any other payment method determined by the regulations, including withdrawals of cash made abroad. Acquisitions made on websites and any other operation made at distance are also included.
- Exchange of foreign currency made by Argentine financial entities destined to pay, on behalf of a local party, for services given by non-residents, canceled using a credit, purchase or debit card, or any other payment method determined by the regulations.
- Acquisitions of services abroad using travel and tourism agencies in Argentina.
- Acquisition of land, air and water passenger transportation services in which it is necessary to acquire foreign currency for payment for destinations outside of Argentina.
2. Subjects liable for the collection regime at a rate of 30%
- Taxpayers liable for the collection regime at a rate of 30% are individual or legal entities, undivided estates, and other taxpayers who are residents in the country that conduct transactions mentioned in item 1.
3. Collection agents
The collection agents are financial entities, travel and tourism agencies, and transport companies in Argentina.
If intermediaries intervene in such payment, they must apply the corresponding collection.
4. Characteristics of the collection
The collected tax rate will be 30% of the amount in Argentine currency (ARS) of each operation reached.
The collection will be computable in the annual tax return of the income tax (IT) corresponding to the fiscal year in which the collection is made, when collected for taxpayers subject to IT. The collection will be computable in the annual tax return of the personal assets tax (PAT), corresponding to the fiscal year in which the collection is made when collected for taxpayers not subject to IT.
If the collection generates a tax credit, it will be applied for the cancelation of other federal tax obligations, or its reimbursement may be requested.
If subjects paid the collection and are not taxpayers of the IT or PAT, they may request its reimbursement.
5. Effective date
The Resolution will be applicable to operations carried out from 19 December 2024.
Click here to read the Spanish version.
