Argentina reduces export taxes to stimulate the economy
Oct, 02, 2020 Posted by Ruth HollardWeek 202040
Last Thursday, October 1, Argentina reported that it will reduce taxes on industrial, mineral, and agricultural product exports in order to encourage exports and generate more foreign exchange for the country. Argentina has been experiencing a recession with high inflation since 2018.
By the end of the year, the Argentine government will reduce taxes on soy and its derivatives from the current 33% to 30% and will reduce tariffs on mineral goods from 12% to 8%.
The reduction for industrial exports will be staggered according to the type of product and will be eliminated for many final goods in an effort to accelerate the inflow of dollars and stabilize the foreign exchange market which has been experiencing turbulence for weeks.
Related Post
-
Other Cargo
Jul, 31, 2023
0
High milk imports upset national production
-
Ores
Feb, 26, 2019
0
Iron ore exports rise in February despite Vale disaster
-
Other Logistics
May, 06, 2022
0
VLI’s Board of Directors will feature an independent position
-
Other Cargo
Feb, 04, 2022
0
Russians buy Petrobras fertilizer plant in Mato Grosso do Sul