Argentina Reduces Tax on Foreign Currency Purchases for Freight Services and Imports, Plans to Eliminate the Tax at the End of the Year

Argentina published Decree 777/2024 in the Official Gazette on 2 September 2024, which reduced the tax on foreign currency purchases (Impuesto Para una Argentina Inclusiva y Solidaria - PAIS tax) from 17.5% to 7.5% 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, except luxury goods.

The reduction in the rate is effective for foreign currency purchases from 3 Sep…