Buenos Aires, March 13 (NA) – The Buenos Aires City Government's Public Revenue Administration (AGIP) has eliminated the 1.2% Stamp Tax that was applied to credit card balance financing. The exemption is applied automatically, without the need for any procedures. Therefore, those who pay the minimum balance and finance the rest of their statement will no longer have to pay this 1.2% tax. This reduces the cost of financing and provides concrete relief for residents, according to the Argentine News Agency. The measure was approved in the city's Legislature with the support of various blocs and is implemented in an economic context where many people resort to credit card financing or face difficulties in making timely payments. By being exempt from the tax, financing will have a lower cost, which reduces the total amount to be paid by consumers. This initiative complements other measures aimed at providing greater fiscal relief. Among them, a 100% exemption from the Stamp Tax on the purchase of a single-family home stands out. As of this year, the maximum property value to access this benefit has been updated to $226,100,000.
