ARGENTINA: Stocks Rise After Suspension Of Capital Gain Tax
Source: Business Insider
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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