The Santafesino legislator highlighted the importance of the agricultural machinery industry “in the Argentine productive framework, its capacity to generate jobs and its export potential and to substitute imports.”
Mirabella stressed that the sector exports US$60 million, a figure much lower than that of 2012, when it reached US$350 million, and maintained that “the sector has a production capacity of US$600 million for the domestic market and 600 million dollars to export”.
Among the main benefits and incentives, the VAT refund on investments in capital goods and the accelerated amortization of Income Tax stand out.
An export duty of zero percent (0%) is also set until December 31, 2031 on the export of goods produced under the proposed regime.
The beneficiaries of the Regime will be the legal persons that they have a industrial establishment located in the national territoryintended for the manufacture of National Product of Agricultural Machinery and Agroparts.
The legislator explained that the central objective is to strictly define the concept of National Productfor the purpose of differentiating agricultural machinery and agro-parts with national integration from imported ones.
“We seek to create a DNI for Argentine agricultural machinery to differentiate it from imported machinery, without ignoring the knowledge, technology, and history of foreign subsidiaries, but which will have a ‘passport’ and not a national DNI”complete.
Source: Ambito
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