19.07.201719:00:00UTC+00ARGENTINA: Govt Suspends Tax On Capital Gains For Foreigners

Argentina's government will reverse a resolution published Tuesday which retroactively charged an income tax on foreigners that bought or sold shares of their companies in Argentina.

Finance Minister Nicol?s Dujovne confirmed this afternoon at a press conference that the General Resolution 4094, which taxes the purchase and sale of those shares, is suspended until further assessment of its impacts.

The Argentinean government applied a 13.5% tax to financial transactions involving local companies and foreign investors, or a 15% tax applied to capital gains obtained through the sale or acquisition of securities with a foreign counterpart.