From today, porteños who use a credit card will have to pay more

This tribute -which includes all credit cards- will be applied for January consumption and will appear in the summaries that will expire between the end of this month and February.

If a bank customer does not reside in the Federal Capital but has a registered address in this city to operate with his card, he must pay the stamp tax.

According to the law approved last November, the taxable base of this tax is made up of the debits or charges for the period included in the settlement or summary, whatever their concept, net of the adjustments from previous balances.

At the time of promoting this initiative, the Government of Buenos Aires alleged that this tribute is a consequence of the decision of the Casa Rosada to subtract a point from the co-participation from the City.

So, the district joined the provinces of Buenos Aires, Tucumán, Córdoba, Mendoza, Tucumán, Chaco, San Luis and Tierra del Fuego, where “Stamps” are already charged for credit card operations.

With this tax, plus the elimination of the Gross Income exemption for Liquidity Letters and repo transactions, the City would obtain 19,700 million pesos, to compensate for the loss of co-participation, estimated at about 53 billion pesos.

Some business entities, such as the Argentine Confederation of Medium Enterprises (CAME) rejected the new tax on credit card operations, arguing that it will cause more informality in sales and will undermine banking use.

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