ARGENTINA: Stocks Rise After Suspension Of Capital Gain Tax

Source: Business Insider
By: RTTNews
7/19/2017

The Merval, Argentina's benchmark stock market index, snapped four consecutive sessions of decline and rose by 2.02% on Wednesday to 21,472.21 points, encouraged by an increase in oil prices and after the local government suspended a decision to tax capital gains from foreign investors.

The Argentinean government on Tuesday applied a 13.5% tax on financial transactions involving local companies and foreign investors, or a 15% tax applied to capital gains obtained through the sale or acquisition of securities with a foreign counterpart.

However, the Finance Minister suspended the decision on Wednesday until further assessment of its impacts.

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