Rumours Of More Restrictions With Arg Credit Cards Abroad

[ARbound]

I'm starting to wonder if this could be a preventive measure out of fear of the SCOTUS decision...
Either way I'm sure this put's a SNAFU in the financial habits of those who send their wages back
to the USA or EU or family.

I don't know what's worse anymore: the fact this doesn't surprise me, people don't protest it/freak
out, or that Kirchner & Co. think they can get away with this shit ad infinitum...

 

[Gringoboy]

We'll probably see more of these then.

 

[dennisr]

How it goes in Venezuela: travel and blue rate. Crazier things have happened when the Gov wants to protect reserves.

http://www.iprofesional.com/notas/170672-Con-brecha-cambiaria-del-600-estas-son-las-ingeniosas-maniobras-de-los-venezolanos-para-ganar-con-el-dlar

http://translate.google.com/translate?u=http%3A//www.iprofesional.com/notas/170672-Con-brecha-cambiaria-del-600-estas-son-las-ingeniosas-maniobras-de-los-venezolanos-para-ganar-con-el-dlar&hl=en&langpair=auto|en&tbb=1&ie=UTF-8

 

[Gringoboy]

Fascinating article, but worryingly with echoes.

 

[Davidglen77]

Actually I don't think that they are going to increase the surcharge of 20% because there are already countries that are planning a "reciprocal" surcharge on purchases made in Argentina with foreign credit cards drawn on banks OUTSIDE of Argentina. The idea of the surcharge was to deter purchases outside of Argentina by Argentines but other countries are going to follow suit and AFIP and the government will be hurting even further once that happens. Imagine when people come here from the US and UK and other countries and see something they like in a store for $1000 pesos and want to charge it on a credit card. They will have to factor in a surcharge of the same amount from the bank in their home country. Tourism will be hit harder than ever, and the blue dollar will flourish beyond what they ever imagined. What they are thinking of doing is putting actual limits on foreign transactions which will also suck.

 

[Gringoboy]

What they are doing David is running around like headless chickens.

 

[Bajo_cero2]

They would love to do it if they could, however over 30% is considered confiscatory and unconstitutional - thank God.

How much is income tax?

 

[Sockhopper]

Imagine when people come here from the US and UK and other countries and see something they like in a store for $1000 pesos and want to charge it on a credit card. They will have to factor in a surcharge of the same amount from the bank in their home country.

Which other countries might be thinking of following suit? Where and when did you hear about this possibility? Wouldn't non-Argentine credit card companies fight such a surcharge?

 

[glasgowjohn]

Remember it is not a surcharge from the bank or the c/c company - they merely collect 20% , which is tax dedcitible if you pay tax, of your spending overseas and send it on to the government

 

[Somewhereinba]

How long until the next crash, all my Argentinian friends seem to think this country works in cycles, growth > crash > growth > crash etc. They get slightly annoyed at these policies but know in a few years the country will be totally different - for better or worse. Outgoing Government officials will have pocketed their piece of the pie and sail off into the sunset and another set will ride on in ready to take their piece.

One of my friends was trying to explain the way 'pension funds' work here, I didn't know whether to laugh or cry. Like I said, the best thing about the Argentine people is the value they place on family and friendships - I think it keeps them 'sane' in such a volatile environment who's history has been tainted by complete incompetence and mismanagement at Government level.