Twelve days before the World Cup, the implementation by the banks of the “Qatar dollar”, the most expensive in the market, will be retroactive to the operations carried out since last October 13. The measure implies a dollar of $331 and already has an impact on card consumption, which fell 20%, according to financial entities.

The banks finished implementing the systems that will allow the consumption of all the cards of the same holder to be added up. If that total exceeds US$300, the surcharge on foreign currency consumption will be applied to the rest.

Thus, many cardholders could be surprised when they receive the summaries of what was consumed in November.

Since October 13, the new dollar has been in force with a surcharge of 25% “extra” on the price of the “card dollar” for consumptions made in foreign currencies greater than US$300. If a person exceeds that quota, their consumptions will become more expensive : it will go from $289 per dollar card to $331.

The taxes are applied regardless of whether it is a single movement, for example the purchase of a plane ticket, or several accumulated. The new exchange rate is charged on the total consumption, not on the surplus.

If an Argentine exceeds, in one or more financial entities, the limit of US$300, he must pay 100% of the tax burden, which corresponds to 30% of the Country Tax, 45% of the advance Income Tax and the Additional 25% down payment on Personal Assets.