On 1 September 2024, the Argentine National Executive Branch ("PEN" in Spanish) published in the Official Gazette Decree 777, which modifies the tax rates on certain purchases of foreign currency ("Impuesto PAIS" in Spanish) for the payment abroad of certain goods and services.

In this regard, the tax rate was reduced from 17.5% to 7.5% for the following:

• The acquisition abroad of freight services a…