Subscribers

Argentina suspends capital gains tax for foreigners

Move could allow country to address the measure in broader reforms expected after legislative elections in October

Published Sat, Jul 22, 2017 · 5:50 am
Treasury Minister Nicolas Dujovne (center) told reporters on Wednesday that the measure would be suspended because it would be difficult to implement quickly.

Argentina

Buenos Aires

ARGENTINA on Thursday suspended a tax on foreigners' capital gains, just two days after it had been announced, after market participants complained the surprise move was inconsistent with President Mauricio Macri's pro-market agenda.

In a notice in Argentina's official gazette on Thursday, tax collection agency AFIP said that the 13.5 per cent tax on non-residents' profits in Argentine equity markets - which it had announced on Tuesday - would be suspended for six months. That could allow...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes

Wealth & Investing

Australia’s First Sentier shuts A$14b of funds after growth disappoints

Investors in US stocks set to demand more dividends

Paradox of high interest rates and a resilient economy

At 5% yields, investors find it’s worth paying for actively managed bond funds again

A more reliable way to get enough investment returns

Inflation, interest rates and oil prices have jolted the markets

Breaking News

Most Popular