The Government intensified exchange restrictions for tourism abroad and for spending in dollars. Through a resolution, the Federal Administration of Public Revenues raised from 35% to 45% the tax withholding for those who make expenses in foreign currency with a credit card.

AFIP General Resolution 5232, which entered into force today with the publication in the Official Gazette, seeks to “strengthen the fiscal front based on the manifestation of the taxpaying capacity of different economic sectors.” However, it excludes purchases of foreign currency for hoarding, which will continue with an aliquot of 35%.

Since last night, all operations in dollars have a greater perception on account of taxes on Income and Personal Assets.

All expenses in dollars will have an extra tax cost, except for the purchase of the 200 dollars per month or savings dollar. In this way, the value of the “tourist dollar” will increase from $222.98 (official dollar plus 65%) to $236 (official dollar plus 75%).