Argentina introduces new export taxes

19/09/2018,

On 4 September, the Government introduced a 12 percent export duty on all products, valid with immediate effect until 31 December 2020 (Decree 793/2018). The measure aims to increase government revenue amid high inflation (34.4 percent in August) and a sliding currency. The 12 percent export tax is subject to a cap of four pesos per US dollar of export value for primary products, including agricultural goods, and three pesos per US dollar for other goods. The amount of the tax to be paid will depend on the commodity prices and the exchange rate. Exports from Argentina had been free from taxes since late 2015, when all duties were removed to support the agricultural sector.

Country: Argentina