Fruits from Chile and Argentina's announcement to include imported products in the basic basket, exempting them from taxes

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Chile

Argentina

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Market & Price Trends

Published Mar 13, 2024

Tridge summary

The Argentine Government is opening imports for basic basket products and applying tax discounts to some items to combat rising prices due to unmet inflation expectations. The Central Bank of Argentina will shorten the payment period for imports of food, beverages, and cleaning, care and personal hygiene products. Additionally, VAT and Income Tax on imports of these products and medicines will be suspended for 120 days. This move is expected to stimulate the importation of basic basket products, leading to increased competition and a decrease in inflation.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Argentine Government reported yesterday Tuesday that after the meeting with supermarkets they decided to open imports for basic basket products and that tax discounts will even be applied to some to give them competitiveness. The news was delivered by the presidential spokesperson, Manuel Adorni, who said that with this measure they seek to correct prices that increased too much due to inflation expectations in the sector that were not met. He added: “We understand that the economy is gradually normalizing and the decision has been made to definitively open imports of certain family economy products in order to make prices more competitive, for the benefit of families and consumers. Argentines. Also with some tax cuts on imported products to help correct prices that have risen more than they should, to accelerate the normalization of prices.” This announcement occurs prior to the February inflation being released, which will be released by Indec and which the Government ...

Source: Portaldelcampo