Argentina’s currency crisis hits international shopping 2014

Argentina is one of the emerging countries struggling in the present economic climate. As the US Fed continues its Taper, Argentina’s currency reserves have fallen by about 30%. In an effort to try and stop the tide of money flowing out of the country they have introduced a number of restrictions on foreign currency transactions.

One of these concerns international shopping. Argentina have stopped international shopping purchases from being delivered to the buyer’s house.

From now on all purchases will be sent to the customs office and the purchaser will have to produce a signed declaration upon collection. 

This measure does not completely outlaw worldwide shopping from international websites, but it will go someway to restricting it.

Currently internet shoppers in Argentina are allowed to buy items up to the value of $25 (£15) from abroad tax free every year. Once the $25 level is reached, they need to pay a 50% tax on each item bought from international websites.

This restriction has now been tightened to just two tax-free buys per year. The BBC has more information.

Leave a Reply

Your email address will not be published. Required fields are marked *