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Argentina limits foreign online buys to 2 a year

Wednesday - 1/22/2014, 3:20pm  ET

BUENOS AIRES, Argentina (AP) -- Argentina's government is slapping another restriction on online and mail-order purchases from abroad as it tries to stem the outflow of dollars.

Wednesday's announcement in the official gazette limits Argentines to just two such purchases a year. Purchases beyond that will be dealt with as imports, subject to more extensive paperwork. The decree says the limit applies to the official postal service, but does not mention private courier companies.

It comes only a day after the government said it would require people to submit a statement to the tax agency before they can receive goods ordered from abroad. Such goods can be taxed at 50 percent.

Argentina's economy is suffering from a shortage of dollars and its foreign reserves recently plunged to their lowest level in more than seven years.


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