Pesos to dollars for businesses in Argentina

[Fettucini]

Let's say I had a business making pesos in Argentina, all taxes paid completely en "blanco", how much of the revenue or profit from that business would I be permitted to change legally to dollars? Would it be 25% like they allow of people's wages?
Also for businesses that rely on importing products from China to sell in Argentina for example, how do they get their dollars to buy the products??

 

[Ashley]

Someone correct me if I'm wrong, but the legal purchase of dollars has now been completely prohibited. I certainly don't know anyone who is able to do it. I was also under the impression that people were no longer able to open dollar accounts or to transfer peso savings into dollar accounts.

 

[sesamosinsal]

Someone correct me if I'm wrong, but the legal purchase of dollars has now been completely prohibited. I certainly don't know anyone who is able to do it. I was also under the impression that people were no longer able to open dollar accounts or to transfer peso savings into dollar accounts.

As I understand it, converting to pesos to dollars for savings isn't allowed anymore. Companies that import can convert pesos to dollars, but only for authorized requests. Ambito Financiero reported last week that they get some 2,500 requests a day, which is impossible for Moreno & Co. to keep up with.

The only way to get dollars at this point is through traveling. They, however, decide how much you get. If you don't end up traveling, Migraciones lets the AFIP know, and you'll be required to return the dollars.

 

[Crema Americana]

I have an Argentine lawyer friend that is going to Miami and is going to have to rely on her credit card (which isn't a bad idea anyway), but she couldn't get enough dollars for her trip. So I'm not sure how these travel dollars work, but it seems they're not that easy to acquire either.

 

[Iznogud]

Nada.

There's (officially) no saving in dollars.

 

[esllou]

I heard you're allowed $200 per vacation day abroad. I presume there's some type of limit on this: what if you said (and showed air tickets) for a 3 month trip to US/Europe. I highly doubt AFIP would allow you to exchange $18,000! Also, I would bet this "loophole" will also be closed, just a matter of time.

 

[PhilipDT]

200 dollars? That wont even get you a hotel room in a lot of places!

 

[Iznogud]

http://www.llaollao.com/esp/hab_economy.asp

Cheapest room at Kristina's Hotel is U$D 390 per night.

 

[esllou]

http://www.llaollao.com/esp/hab_economy.asp

Cheapest room at Kristina's Hotel is U$D 390 per night.

there seem to be a couple of Ms missing from the URL

 

[el_expatriado]

I was authorized $5000 USD for a 25 day trip to Europe (for 2 people). We both work en blanco and we both pay income, social security, and wealth taxes here and they gave us about 60% of what we requested for the trip. On my yearly declaration I have a ton of cash declared, so the numbers have nothing to do with how much taxes you pay.

They give you about $100 USD per day and per person.