2023-12-13 10:35:00
On a day marked by the economic announcements made yesterday by the Minister of Economy, Luis Caputo, The Central Bank will announce that the card dollar will be set at 1,280 pesos. This decision follows an exchange rate devaluation that will come into effect in the coming hours.
As published by Infobae -through sources from the Ministry of Economy-, The collection of Personal Assets will be eliminated and the collection of Profits will be reduced. Until now, taxes represented a staggering 155%, which added to the value of the official dollar. However, the PAIS tax will continue to apply to these operations.
Taxes on consumption of the dollar type used for credit consumption in dollars and expenses abroad and the well-known “savings dollar” will be reduced to 60%, equivalent to regarding 480 pesos. Adding up these taxes at the new value of the official dollar, set at 800 pesos, the “card dollar” will amount to 1,280 pesos.
In summary, Consumers must pay 800 pesos for the official price of the dollar, plus taxes equivalent to 60%. This includes 30% of PAIS Tax and another 30% of receipt of Profits, although detailed confirmation is expected from the Central Bank.
A relevant unknown that is expected to be clarified with the Central Bank’s statements is how They will manage the expirations of credit cards with consumption in dollars that are close. The summaries with the new perceptions of the dollar card have already begun to reach taxpayers.
At the end of last month, The AFIP established an increase in the tax burden of the exchange rate through General Resolution 5450/2023. This measure modified the collection rates for transactions abroad, raising the collection of Income Tax from 45 to 100%, with a rate of 25% for advances of Personal Assets. Added to the 30% COUNTRY Tax, the total surcharge reached 155%.
The dollar card, whiche had already reached $1,050, it now stands at 1,280 pesos, representing an increase of 30% compared to its previous value. It should be noted that each bank applies its own retail exchange rate, which may generate variations in the final value.
Besides, The Central Bank temporarily paused operations to access the exchange market pending the economic announcements of the new Government.
The full detail of the Central Bank’s measures is expected to clarify the situation and provide information on How it will affect the maturities of credit cards in dollars.
With information from Infobae
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