The Buenos aires city confirmed that it will stop charging the credit card taxes for consumption made in the district, at the same time that it will return what was paid between December 22, 2022 and March 9, 2023.
As anticipated, the refund it is expected to be about $3,200, on average, per credit card user. Each user will be able to estimate how much they will receive for the amounts withheld during the law’s validity, calculating that the tax rate was 1.2% on the total purchases made in that period.
To find out exactly how much you were charged, you can review the summaries in the concept “Stamp Tax”.
Users of credit cards issued in the City of Buenos Aires should not carry out any procedure to receive the refund since it is automatic and will be reflected in the card summary, where it will appear as a balance or credit in favor of use later in the payment of the same.
The 1.2% rate was applied to charges and debits made by credit card, except for remaining balances from settlements or summaries corresponding to previous periods. The tax was generated at the time of issuance of the settlement or summary.
In the event that there are no pending balances from previous statements, the balance that will be returned could be estimated as 1.185770751% of the amount paid for card statements that closed between December 22 of last year and December 9. March of this year. That is, taking all the payments that have been made in those statements and multiplying by 0.01185770751.
Taking this as a reference, if a statement that closed on December 23, 2022 and expired days later reached a value of $250,000, the tax for that month reached $2,964.42.
Then, adding the tax of all the statements that have closed (not expired) during the period, the total amount that will be returned is reached.
Whereas if there were pending balances from previous statements, because the minimum payment or part of the expiration of a previous statement was paid, those amounts must be adjusted to make the calculations, leaving no other option than to review statement by statement.
Source: Ambito
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