Argentina: The Government modified the withholdings for more than 4,500 products

Published 2020년 12월 31일

Tridge summary

Argentina's Government has eliminated export duties for regional economies and reduced the retention rates of industrial final goods through Decree 1060/2020. The decree also increased the retention rates of basic or intermediate goods. Effective from January 1, 4,593 tariff positions have been modified, with export duties ranging from 0% to 4.5%. The measure aims to unify the aliquots of products based on the value added of exports. Additionally, the decree benefits certain sectors like sheep and goat meat, eggs, and horticultural products by imposing a 0% tariff. However, the oil industry faces a transfer of 400 million dollars to the producers, as soybean exports are expected to rise to 33% while the withholding rates of milling by-products, flour, and oil remain at 30%.

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Original content

INICIO LID MULTIMEDIA CAMPUS UP Through Decree 1060/2020, export duties were eliminated for regional economies. The retentions of industrial final goods were reduced and that of basic or intermediate goods rose. Thursday, December 31, 2020 | 16:18 The Government through decree 1060/2020 in the Official Gazette made changes to the export rights of industrial and agricultural products. There were reductions in withholdings in goods with higher added value and there were increases in goods with less value. In addition, the export duties of many regional economies were reduced to 0%. 4,593 tariff positions were modified (3,641 industrial and the rest of agriculture) and the aliquots became 4.5%, 3% or 0%. Official sources explained that the measure seeks to "unify" the aliquots of products according to "the level of value added" of exports. Industrial final goods and basic inputs remain at 0%, industrial processed inputs remain at 3% and industrial raw materials and industrial inputs ...

Source: Laizquierdadiario