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Argentina Temporarily Increases Statistical Tax on Imports

Argentina has increased from 0.5 percent to 2.5 percent, with immediate effect and through the end of this year, the statistical tax applied to imports for consumption as well as temporary imports. The statistical tax will continue to be subject to certain maximum caps, although those caps have also been increased. Specifically, for imports valued under US$10,000, the maximum statistical tax payable is now US$150 (compared to US$50 previously); for imports of a value ranging from US$10,000 to US$100,000, the maximum is US$2,500 (compared to US$100 to US$400 previously); for imports of a value ranging from US$100,000 to US$1 million, the maximum is US$25,000 (compared to US$500 previously); and for imports above US$1 million the maximum is US$125,000 (compared to US$500 previously).

Argentinean authorities are offering a number of justifications for this increase. On the one hand, they contend that technological, organisational and geopolitical changes that have taken place since the statistical tax was last modified two decades ago have substantially impacted the performance of statistical tasks on imports. Regulatory changes have also ostensibly required other agencies of the Argentinean government to be more involved in trade-related activities. Argentinean authorities also note that other countries, such as Uruguay, apply similar taxes at a higher rate. Moreover, the government admits that it is seeking to balance the public accounts and eliminate the primary deficit this year.

Content provided by Picture: HKTDC Research
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