More Dollar Problems in Brazil

[Brall]

With the dollar dropping lower and lower in value and the price of everything in Brazil going up and up, the last thing the dollar needs is more problems. But guess what? The government has imposed a tax for exchanging money; traverlers checks or currency! When I went to exchange money with my travelers check, the guy (at the Rio Palace hotel location) told me that there is a government tax of .06%. I said "no thanks" and went to another place to exchange U.S. dollars instead of travelers checks. Well, I was told the same thing; a government imposed tax of .06%. What will they think of next? Despite my love for the men of Brazil, Argentina is looking better and better with each passing day!!!!!!!!!!!!!!

[+ Axiom2001]

I think you will like Buenos Aires; I know that I have during the past three years. Currently I have a tentative and slightly impending revisit to the "Paris of the South" in 2009.

 

Although BA does not have a sauna scene as some of the cities in Brasil, I do think that the guys on the independent websites work just as well.

The selection is indeed quite overwhelming!

[imrthr]

"With the dollar dropping lower and lower in value and the price of everything in Brazil going up and up, the last thing the dollar needs is more problems. But guess what? The government has imposed a tax for exchanging money; traverlers checks or currency! When I went to exchange money with my travelers check, the guy (at the Rio Palace hotel location) told me that there is a government tax of .06%. I said "no thanks" and went to another place to exchange U.S. dollars instead of travelers checks. Well, I was told the same thing; a government imposed tax of .06%. What will they think of next? Despite my love for the men of Brazil, Argentina is looking better and better with each passing day!!!!!!!!!!!!!!

 

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Even if you are required to pay the .06% tax to exchange money, is it really that much money considering the total costs of your stay or visit in Brazil?

 

If you charge your hotel bill to your credit card, your credit card company charges you 3% “foreign transaction fee” of the amount charged. This has happened for many years and is far greater than the .06 % you discussed in your posting.

 

Say you exchanged $2,000.00 dollars on your trip and had to pay the .06 % tax. That tax would be only $12.00.

 

Is $12.00 sufficient reason for one to foregoing visits to Brazil?

 

The actual or true problem is with the lower value of the dollar. Even considering that fact, it is still a bargain to visit Brazil. It just is not as much a bargain as it was a few years ago.

 

You said you exchanged money in Rio. The cambios I use in Sao Paulo do not add a fee for “tax” when one exchanges currency. It seems that your Rio cambios have discovered a new method for earning a little more income from foreigners (charging the “tax” for monetary exchanges).

 

Boa viagem!

[+ Italiano]

I was reading this initial posting and I actually thought the same thing.

Notwithstanding the actual drop of the $ which makes travelling everywhere outside US more expensive, is it REALLY not worthy anymore to go to Brazil because every 1,000 $ changed the Government keeps 6 (SIX!!) dollars?....

 

:+

[+ glutes]

RE: More Dollar Problems in Cuba

 

The same thing is now going on in Cuba.

DO NOT bring U$D to Cuba, exchange your money ahead of time to Mexican Pesos or Euros!

[Guest Deweywop]

As a one-time math tutor, I need some clarification here. The original poster said it was a ".06%" tax. Note the decimal and its relation to the zero. That's the equivalent of 0.06%, or what people in the financial industry would call "6 basis points."

 

".06%" of $2,000 is actually only $1.20 - even less than you thought. It's hard for me to imagine a government even bothering to track a tax this small, since many currency exchanges involve only $100-200 (0.6% of which would be only pennies).

 

Unless, of course, the original poster meant the tax was 6% (as in 6.0%), which would be highway robbery, or 0.6%, which would be pretty annoying but not intolerable.

[CT Dick]

I bet it drives you crazy when a store lists an item for .99¢ :-)

 

Dick

[imrthr]

>As a one-time math tutor, I need some clarification here. The

>original poster said it was a ".06%" tax. Note the

>decimal and its relation to the zero. That's the equivalent of

>0.06%, or what people in the financial industry would call

>"6 basis points."

>

>".06%" of $2,000 is actually only $1.20 - even less

>than you thought. It's hard for me to imagine a government

>even bothering to track a tax this small, since many currency

>exchanges involve only $100-200 (0.6% of which would be only

>pennies).

>

>Unless, of course, the original poster meant the tax was 6%

>(as in 6.0%), which would be highway robbery, or 0.6%, which

>would be pretty annoying but not intolerable.

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Please tell me you are no longer a math tutor.

 

If you consult an arithmetic book you will be able to understand the following:

 

If 10% of $2,000.00 equals $200.00 and 1% of $2,000.00 equals $20.00 than it follows that .06% of $2,000.00 equals $12.00. Stated another way, 60% of $20.00 equals $12.00.

 

After reading this thread, I can understand why there are people who actually believe they should reconsider visits to Brazil because they feel $12.00 is material to their overall costs of vacationing in Brazil.

 

I hope this tutorial helps in your understanding of the $12.00 computation.

[Guest Deweywop]

>Please tell me you are no longer a math tutor.

 

No. But my math is still good.

 

>If you consult an arithmetic book you will be able to

>understand the following:

>

>If 10% of $2,000.00 equals $200.00 and 1% of $2,000.00 equals

>$20.00 than it follows that .06% of $2,000.00 equals $12.00.

>Stated another way, 60% of $20.00 equals $12.00.

 

This is your mistake: .06% is not 60% of 1%. It's 6% of 1%. You're mixing up .06% with 0.6%.

 

Look:

 

60.0% of $2,000.00 = $1,200.00

6.0% of $2,000.00 = $120.00

0.6% of $2,000.00 = $12.00

0.06% of $2,000.00 = $1.20

 

>After reading this thread, I can understand why there are

>people who actually believe they should reconsider visits to

>Brazil because they feel $12.00 is material to their overall

>costs of vacationing in Brazil.

>

>I hope this tutorial helps in your understanding of the $12.00

>computation.

[Guest msclonly]

I don't like paying fees after paying all those taxes on the money I earn one way or another.

 

A fee free ATM or credit card is the only way to go!

It is worry free as to how much it is costing you to exchange money.

And it sure feels better, when you don't have to pay anything to do that. I have more fun that way! lol

:+ :+ :+