BUENOS AIRES: Foreign investors will now pay Argentine capital gains rates of 5 percent or 15 percent depending on the type of asset and the currency, according to a decree published in the government's official gazette on Monday.
The country passed a law requiring foreigners to pay tax on local capital gains in 2013, but the regulations implementing the law were not published for years. The government implemented the law last July, only to suspend it two days later ahead of a tax reform bill.
The 15 percent rate will apply to some stocks, mutual funds, bonds in foreign currency, and bonds in local currency that adjust with inflation. Profits from bonds that do not adjust with inflation will be taxed at a 5 percent rate. Profits from digital currencies are also subject to the tax.
Argentina implemented a similar capital gains tax for local investors as part of the tax reform package passed last year.
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