He COUNTRY tax It will not be replaced by another tax, he ratified the president of the Central Bank, Santiago Bausili. Thus, starting in January, the dollar for those who spend abroad, both in tourism and in the purchase of goods and payment of services, will be cheaper than at present.
When speaking at a meeting organized by the Córdoba Stock Exchange, Bausili also referred to the demand for dollars for tourism, now that the summer holidays are coming.
Regarding the removal of the tax on the exchange rate used for tourism and the payment of services abroad, Bausili stated that “the spending of Argentines on tourism abroad is a variable that the government does not control.”
“What is under discussion here is whether those who do not have dollars are going to buy from the Central Bank and consume net reserves or are going to buy them from their neighbors and do not affect the reserves. That is the debate,” he said.
The official specified that half of the dollars consumed abroad come from reserves, while the other half are obtained in the financial market.
“Why would someone pay $1,500 with the dollar card, like they do for $400 million a month?” he asked. And he linked this decision to the fact that they are small amounts, such as payments for streaming services.
Regarding the extra demand for dollars for tourism, Bausilli stressed that he will go in search of foreign currency on the financial market, even if the card exchange rate becomes cheaper due to a reduction in the PAIS tax.
Bausili highlighted that the government has been lifting the exchange rate in layers and explained that its continuity is due to the “risk of what happens to the stocks” of debts to be paid.
“That is the most relevant impediment to lifting it and that is why what we have been doing is lifting the trap in layers, removing layers of restrictions to improve flows,” he clarified.
Bausilli also downplayed the discussion of whether there is a delay in the exchange rate and ruled out a devaluation to accommodate that value.
“We do not believe that the adjustment of nominal variables is the solution to the debate about whether Argentina is expensive or cheap. Argentina is going to end up being expensive or cheap, in terms of whether it is an efficient economy or not and its tax structure is comparable to the countries with which we compare ourselves,” he indicated.
Source: Ambito
