December 22, 2024 – 2:19 p.m.
After five years of applying a significant surcharge to dollar transactions, the tax is coming to an end, raising questions about its impact on payments made with credit and debit cards.
The Customs Collection and Control Agency (ARCA)previously known as AFIP, adjusted the regulations related to the Tax for an Inclusive and Solidarity Argentina (PAIS), given that this tax will end this Sunday, December 22. After five years of applying a significant surcharge to dollar transactions, the tax is coming to an end, raising questions about its impact on payments made with credit and debit cards.
The keys to card payments after the elimination of the PAIS tax
- Starting December 23, purchases in dollars will no longer be subject to the 30% PAIS tax, but the equivalent surcharge will apply under current tax regulations.
- Those who have made purchases in dollars before December 22, but whose statements expire after that date, will not have to pay the PAIS tax.
- Purchases made with debit cards until midnight on December 22 will continue to be subject to the surcharge. Starting at 0 on Monday, December 23, no media will be affected by the tax.
AFIP ARCA
Mariano Fuchila
How much is the dollar without the PAIS tax?
- dollar savings: Also known as “solidarity”, it is the dollar that can be acquired in the Single and Free Exchange Market (MULC) through banks or home banking, with a monthly limit of US$200. To calculate its value, a 30% PAIS tax and a 30% collection on account of Profits are added to the official retail exchange rate ($1041.73). Without the PAIS tax, the value of the savings dollar would go from $1,682.66 to $1,177.86.
- dollar card: applies to purchases made in foreign currency abroad or for services contracted outside the country. The calculation includes a 30% PAIS tax and a 30% collection on account of Profits on the retail exchange rate ($1,682.66). Without the PAIS tax, this quote would drop from $1,682.66 to $1,177.86.
- Netflix Dollar: This quote applies to streaming services based abroad and is lower than the dollar card and savings. To calculate its value, 21% VAT, 8% COUNTRY tax and 30% collection of Profits are added to the retail dollar ($1041.73). By eliminating the PAIS tax, the Netflix dollar would be $1,606.
Source: Ambito
