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Certain transactions with public bonds are not deductible
Losses arising from "dolar bolsa" and "dolar MEP" transactions with public bonds are not deductible for income tax purposes. Taxand Argentina takes a look at this legislative development.
The Official Gazette published Circular No. 5/2014, in which the Adminstracion Federal (AFIP) states its criteria in the sense that losses arising from negative exchange differences resulting from “dólar bolsa” or “dólar MEP” transactions with public bonds are not deductible as per income tax purposes.
The AFIP considers that the above mentioned transactions imply, by themselves, an aggressive fiscal planning aimed at evading income tax.
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