Regime for the Collection of Income Tax and Personal Assets Tax on Transactions Subject to the PAIS Tax
Tax Law Department Report | Regime for the Collection of Income Tax and Personal Assets Tax on Transactions Subject to the PAIS Tax
On December 19, 2024, General Resolution No. 5617/2024 established a regime for the collection of Income Tax and Personal Assets Tax, replacing the previous regime applicable to transactions subject to the PAIS Tax. This resolution constitutes a regulatory adjustment following the termination of the PAIS Tax as of December 22, 2024, which served as the basis for the prior collection regime.
As with the previous regime, the new collection system established by this resolution primarily applies to the following transactions:
-The purchase of foreign currency and banknotes by residents of the country, either for savings or without a specific purpose.
-The purchase of foreign currency for the payment of obligations related to the import of alcoholic beverages, certain vehicles, and luxury goods, among others.
-Currency exchanges conducted by financial institutions on behalf of purchasers, tenants, or service recipients for the payment of goods and/or services acquired abroad or domestically from non-resident entities, settled using credit, debit, or purchase cards.
-Purchases made through online platforms or virtual sites and any other method enabling remote transactions in foreign currency.
-The acquisition of services abroad arranged through travel and tourism agencies based in the country.
-The purchase of passenger transportation services, including land, air, and sea travel, destined for locations outside the country.
The 30% rate has been maintained, along with the general rules and exceptions applicable under the previous regime.
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