Economy Minister Luis Caputo announced the government will lower the PAIS tax for imported goods and international shipping to 7.5%, after increasing it to 17.5% in December.

The PAIS tax, which applies to all U.S. dollar transactions, will not be decreased for credit or debit card purchases, nor expenses made in other countries. The PAIS tax for those types of transactions will remain at 30%. They are also charged with an extra 30% accounting for the Profits or Personal Property tax.

“I believe that in September we will see a drop in prices,” Caputo said........

© Buenos Aires Herald