Argentina to tax imported fashion goods

Just as the world is getting smaller and the freedom of online shopping allows customers in faraway 

places to purchase niche or difficult to find fashion brands from the opposite corner of the world.

Unfortunately this luxury is no longer available to Argentinians, as its government has introduced new regulations and restrictions on online shopping, making it virtually impossible to purchase goods online outside of its native country. The reason is to stop the country's foreign currency reserves from falling any further.

Anyone buying items through international websites will now need to sign a declaration and produce it at a customs office, where the packages have to be collected. The goods are then subject to a 50 percent tax as well as a 35 percent surcharge on credit card purchases. The procedure will need to be repeated for every new purchase, reports the BBC.

Argentina's reserves of hard currencies dropped by 30 percent last year. Under the current regulations, citizens are allowed 25 dollars of tax free goods per annum. Anything over this value is taxable at 50 percent.

Items imported through websites such as Net-a-Porter, Amazon and eBay are no longer delivered by post to people's home address. They need to be collected at the customs office.