The Argentine tax authority (AFIP) has announced an increase in the tax on foreign currency purchases (Impuesto Para una Argentina Inclusiva y Solidaria - PAIS tax) from 7.5% to 17.5% in relation to foreign currency purchases for:
- freight services abroad and other transportation services for import or export operations of goods; and
- the importation of goods.
The tax rate for the payment on account for foreign currency purchases for imported goods has also been increased from 7.125% to 16.…