Government reinforces dollar restrictions

The AFIP tax agency established new measures in the foreign currency exchange market to further strengthen restrictions on dollar purchases as published today in the Official Gazette.

Through resolution N° 3356 published today, the government established that those who travel abroad may only acquire in the exchange market "the legal currency of the country of destination" and determined that all tourism operations need to be confirmed by shipping companies or travel agencies.

Under the new rule, the AFIP “shall consider, for purposes of validation, the destination and currency reported to be acquired and, thus, enable the person intending to travel to access the purchase of legal currency used in the destination country.”

The resolution, which will come into effect on August 13 also establishes that “purchases of foreign currency for travel or tourism purposes required for validation, that all data reported by the potential buyer to be confirmed by the transport company, or, if necessary by the tour operator.”

The resolution also warns that “wherever it appears the breach of obligations under this general resolution, the person responsible may receive the sanctions provided by law 11,683.”