Question about Argentina bank cards used outside the country...

[rob0001]

I'm trying to get a clear picture about this and an up-to-date one. If I use a credit or debit card from an Argentina bank will the rate and charges I get in Argentina be the official rate plus 30% or are there other charges and fees? Does it matter if it's a debit or credit card? Does it matter which country or currency is being charged?
Is there an exact limit per day that is allowed or is it just my limit on my card?

 

[Quilombo]

Hopefully this will help:

- Debit card purchases will be posted once they're made and applicable taxes will apply
- Credit card purchases will be posted once the billing cycle closes, at the exchange rate of the day (always will be higher) and applicable taxes will apply
- Taxes for both are the same; BCRA x 75%; yesterday it was $186.21 ---> $325.86 for purchases up to $300 USD
- If you exceed $300 in purchases according to your CUIT across all banks/institutions you will pay $372.42 (the BCRA exchange rate x2 aka the Dollar Qatar) including the purchases you made below $300 USD
- Currency will always be converted in to dollars, i.e. EUR ---> USD ---> ARS
- Limits on your card are generally administered by your banks/issuers, and at the official exchange rate. One of my debit cards has a $500K ARS transaction limit, which means I can spend up to $2,685.14, but I will of course pay $1,000,000 ARS if I do this due to the so called "Dollar Qatar"

 

[jblaze5779]

Looks for the Qatar rate. That's what they'll use. Then you can get the 35% back but in a year when it's worthless.

 

[lunar]

After a foreign purchase (Visa Debit Card), I see the following additional items

Impuesto Pais 7%
Percepcion Ganancias 42%
Cobro IVA Serv. Digitales 23%

That comes up to 72% on top of the official dollar exchange rate.

 

[rob0001]

So, thanks for the info. I am attaching translated BBVA info about the fees/taxes added. Some of it's unclear to me even in English, lol. First, it says there is a 5% add to the official rate then 30% add, then 45% prepaid tax. That may be the 75% you mentioned....however it seems to say that if it's under the $300 a month that you don't prepay the 45% tax...am I reading this correctly? It also says something about the $300 is actually $200, lol ....not sure what that means.

 

[rob0001]

2. Taxes

Purchases abroad will be made in Argentine

pesos and the selling exchange rate of Banco Nación +

5% will be used.

Also, keep in mind that you have to add the

following taxes to the total charged by the business: COUNTRY tax (30%), advance income tax (45%) and Perception on account of BBPP or Qatar

Dollar (25%).

This backup withholding counts for monthly

cumulative purchases over $300.

Important! These consumptions are deducted from your purchase limit of USD 200 (savings dollar) for the

following months.

 

[rob0001]

Also the 25% comment about perception on account of Qatar dollar is baffling, hahaha

 

[Quilombo]

Theres several different things going on here so let me try and explain them all best I can:

First, it says there is a 5% add to the official rate

This is called the foreign exchange markup, it's what your bank charges you to convent USD to ARS. In the US it's usually 2%-3%, your bank is charging you 5%, it's NOT a tax, it's a bank imposed fee.

Then add 30%

This is called the Impuesto PAIS. It is a tax.

Then 45% prepaid tax

This is called the Impuesto Anticipado de Ganancias RG 5248 it is a refundable tax, if you don't pay the income tax, and you can request the refund each January from AFIP. As others have said, you'll get the same amount of money you spent refunded, but it is worth less due to inflation.

That may be the 75% you mentioned

This is where the total value of the dollar tarjeta comes from, minimum is the Google exchange rate x 1.75, but in your case you must add 5% for your bank's forex fee.

However it seems to say that if it's under the $300 a month that you don't prepay the 45% tax...am I reading this correctly?

Not quite; if the total purchases you make based upon your CUIT are $299.99 USD or LESS, you will "only" pay the following:

• BCRA Exchange Rate for $299.99 USD to ARS
• Your bank's forex fee of 5%
• Impuesto PAIS of 30% (tax)
• Impuesto Anticipado de Ganancias RG 5248 of 45% (tax, refundable, minus inflation)
• If you bought something right now for $299.99 it would likely cost you ~$96,630.37 ARS

If the total purchases you make based upon your CUIT are $300.00 USD or MORE, you will pay the following:

• BCRA Exchange Rate for $300.00 USD to ARS
• Your bank's forex fee of 5%
• Impuesto PAIS of 30% (tax)
• Impuesto Anticipado de Ganancias RG 5248 of 45% (tax, refundable, minus inflation)
• Impuesto Bienes Personales of 25%; aka the "Dolar Qatar" (honestly not sure if this is refundable, it's still pretty new)
• If you bought something right now for $300.00 it would likely cost you ~$110,065.38 ARS

It also says something about the $300 is actually $200, lol ....not sure what that means

This is the Savings Dollar (Dolar Ahorro) scheme which most people are blocked from. It's only mentioned because any debit/credit
card purchases count against your allowance to buy physical dollars for saving.

 

[rob0001]

Theres several different things going on here so let me try and explain them all best I can:

First, it says there is a 5% add to the official rate

This is called the foreign exchange markup, it's what your bank charges you to convent USD to ARS. In the US it's usually 2%-3%, your bank is charging you 5%, it's NOT a tax, it's a bank imposed fee.

Then add 30%

This is called the Impuesto PAIS. It is a tax.

Then 45% prepaid tax

This is called the Impuesto Anticipado de Ganancias RG 5248 it is a refundable tax, if you don't pay the income tax, and you can request the refund each January from AFIP. As others have said, you'll get the same amount of money you spent refunded, but it is worth less due to inflation.

That may be the 75% you mentioned

This is where the total value of the dollar tarjeta comes from, minimum is the Google exchange rate x 1.75, but in your case you must add 5% for your bank's forex fee.

However it seems to say that if it's under the $300 a month that you don't prepay the 45% tax...am I reading this correctly?

Not quite; if the total purchases you make based upon your CUIT are $299.99 USD or LESS, you will "only" pay the following:

• BCRA Exchange Rate for $299.99 USD to ARS
• Your bank's forex fee of 5%
• Impuesto PAIS of 30% (tax)
• Impuesto Anticipado de Ganancias RG 5248 of 45% (tax, refundable, minus inflation)
• If you bought something right now for $299.99 it would likely cost you ~$96,630.37 ARS

If the total purchases you make based upon your CUIT are $300.00 USD or MORE, you will pay the following:

• BCRA Exchange Rate for $300.00 USD to ARS
• Your bank's forex fee of 5%
• Impuesto PAIS of 30% (tax)
• Impuesto Anticipado de Ganancias RG 5248 of 45% (tax, refundable, minus inflation)
• Impuesto Bienes Personales of 25%; aka the "Dolar Qatar" (honestly not sure if this is refundable, it's still pretty new)
• If you bought something right now for $300.00 it would likely cost you ~$110,065.38 ARS

It also says something about the $300 is actually $200, lol ....not sure what that means

This is the Savings Dollar (Dolar Ahorro) scheme which most people are blocked from. It's only mentioned because any debit/credit
card purchases count against your allowance to buy physical dollars for saving.

Thanks so much! Makes perfect sense!