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Argentina Extends Temporary Reduction of Excise Taxes on Certain Motor Vehicles, Boats and Aircraft

The Argentinean government on 1 January 2016 significantly decreased the excise taxes in place on certain luxury products. According to Law 24.674 of 20 December 2013, motor vehicles for the transport of persons (excluding buses, trolleybuses, ambulances, etc.), motor vehicles for camping, motorcycles, chassis with an engine and engines for the aforementioned vehicles, vessels for pleasure or sports, and aeroplanes, helicopters and other aircraft for pleasure or sports are normally subject to a rate of 50 percent assessed on their taxable value. Goods below a certain value are exempt and the government on 1 January temporarily increased these thresholds and lowered the maximum tax rates in an effort to encourage domestic production and investment, as shown below.

  • Motor Vehicles
    The minimum taxable value was raised from Arg$225,000 to Arg$350,000. Vehicles with a sale value higher than Arg$350,000 but no higher than Arg$800,000 are currently taxed at a 10 percent rate, while vehicles with a sale value higher than Arg$800,000 are taxed at a 20 percent rate.
  • Motorcycles
    The minimum taxable value was raised from Arg$39,700 to Arg$65,000. Motorcycles with a sale value higher than Arg$65,000 are currently taxed at a 10 percent rate.
  • Vessels for Pleasure or Sports
    The minimum taxable value was raised from Arg$177,000 to Arg$400,000. Vessels with a sale value higher than Arg$400,000 are currently taxed at a 10 percent rate.
  • Aircraft for Pleasure or Sports
    The minimum taxable value is currently Arg$225,000, with aircraft with a higher sale value taxed at a 10 percent rate.

In addition, the 10 percent excise tax on diesel-engined motor vehicles and diesel engines (including camping vehicles and chassis with an engine) was temporarily eliminated effective 1 January 2016. These actions were supposed to be in place through 30 June 2016 but Argentinean authorities recently extended them through 31 December 2016.

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