Argentina: AFIP set reference prices of between 3,460 and 4,130 dollars per ton for export milk powder

The Federal Administration of Public Revenues (AFIP) reported that it had established reference values for exports of powdered milk and powdered modified milk. In a resolution that has not yet been published in the Official Gazette, it determined that these values range from $3,460 to $4,130. In the first months of 2023, Argentina was exporting each ton of powdered milk at around 3,700 dollars per ton. “The regulations tend to make the operations of the sector transparent. The reference values are a tool that allows avoiding abusive maneuvers that affect tax revenues and the correct settlement of foreign currency," explained the AFIP, implying that with this measure it places a limit on possible maneuvers of under-invoicing of exports by the dairy industry. General Resolution 5363/2023, which would be published in the next few hours, will set a witness price per kilo that varies between 3.46 and 4.13 dollars depending on the composition of the export product. The details are not ...