January 16, 2018

New resolution specifies purchase of foreign currency not taxed

Saturday, April 5, 2014

AFIP: no surcharge for islands

The AFIP tax agency yesterday clarified that the 35 percent surcharge applied to purchases and travels abroad is not in force for the Malvinas, the South Georgia, or South Sandwich islands as they “are part of the Argentine Republic.”

The resolution signed by AFIP head Ricardo Echegaray, specifies that “some tourism operators, air transport companies and credit and debit card administrators have interpreted the norm” incorrectly when it comes to the aforementioned territories.

As such, it was specified that the surcharge, which is applied to the purchase of travel outside of Argentina “does not apply when tickets or services are purchased” in the islands.

The surcharge is considered an advance to the income tax payable to AFIP.

Purchase of foreign currency

Given the fact that the legal means of exchange on the islands is the Malvinas Pound and that a 2013 resolution stated that “AFIP cannot oblige operators on the islands to use pesos,” foreign currency must be bought by any travelers to the islands.

However, unlike the purchases of foreign currency for the purposes of tourism, the resolution clarifies that the“application for the fiscal verification of finances for the acquisition of foreign currency... is carried through the selection of Argentina — Malvinas Islands as the country of destination.”

Purchasing foreign currency for this purpose will not incur any additional fees.

In 2013 AFIP had stated that “AFIP resolutions do not regulate geopolitical matters, which must be resolved within the sphere of international law.”

Herald with DyN, Télam

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