Starting today, the spider’s web of country tax has spread once again by capturing a new contributor. The PAIS tax, which applies to the purchase of foreign currency, will cover companies that transfer dividends trapped by stocks to their parent companies. Market estimates show that there are US$ 7,000 million trapped in stocks that should be transferred abroad. These transfers had been stopped in the previous government, but days ago the current administration enabled the use of Bopreal bonds (originally designed for importers) to settle these debts.
As economist Amilcar Collante estimated on social media, an additional US$1 billion could be raised this way. Since the PAIS tax is not shared, all revenue from this tax goes to the national coffers. In the first quarter, it contributed 10% of the total collection. Originally, this tax included a 30% rate on operations in dollars and the purchase of tickets, but it has since been extended to also tax imports at 17.5%.
In March, the PAIS Tax saw a nominal increase of 1,106.5% year-on-year and 208.8% in real terms. According to the consulting firm ACM, these taxes are becoming increasingly important for national revenue during the new administration. While the PAIS tax is set to disappear in December, it has become an essential tool for the government to maintain a surplus. It is expected that this tax will disappear once the exchange rate unification is carried out, which has been delayed from its initial June timeline.
The significance of the PAIS tax has reduced