Argentina establishes new reverse withholding regime applicable to certain purchases of foreign currency, and goods and services from abroad

The Argentine Federal Tax Authorities (AFIP) have issued General Resolution No. 4815/2020 (published in the Official Gazette on 16 September 2020), which imposes a 35% reverse withholding tax on purchases of foreign currency without a specific purpose and certain goods and services outside of Argentina by Argentine residents.

General Resolution

The tax applies to the following transactions performed since 16 September 2020:

• Purchases of foreign currency (i.e., “constitution of foreig…