6 Sept 2018
All Exports from Argentina to Face 12 percent Duty
In an effort to increase tax revenues to stem a deepening financial crisis, the Argentinean government has established a 12 percent duty on all exports for consumption, subject to a maximum limit of three or four Argentinean pesos (depending on the product) for every U.S. dollar of taxable value or official FOB price. Certain soy products will face an export duty ranging from 11 percent to 18 percent in addition to the general 12 percent tariff. Slated to remain in place through 31 December 2020, the measure was described by President Mauricio Macri as a “very bad” tax and a necessary evil to address Argentina’s delicate financial situation.