President Javier Milei seeks to raise the rate of export duties on soybeans and their derivatives from the current 31 to 33 percent, through the “Omnibus Law”, which entered the Chamber of Deputies today. But The increase is not only for these products, but also for the industry. Furthermore, due to the article that delegates powers to him, the president could do so whenever he wanted, without going through Congress, until the end of his government.
According to article 200 of the aforementioned initiative, Products that today do not have export duties will be taxed at 15%. At that point, products from regional economies that did not have that tax pressure or that fell to 0% last September will be reached. by a decision of the former Minister of Economy, Sergio Massa.
This means that All export products from Argentina, in addition to services, will be taxed at 15% of these generalized withholdings.. This even affects regional economies and industrial products, except for those considered as exceptions.
Meanwhile, article 202 of the “Law of Bases and Starting Points for the Freedom of Argentines” indicates: “The rate of export duty for all exports is established at THIRTY-THREE PERCENT (33%). soybean byproducts currently reached by an aliquot of THIRTY ONE PERCENT (31%). The National Executive Branch will identify the tariff positions of the Mercosur Common Nomenclature included in this article.”
Former Minister of Economy Sergio Massa had returned two points of export duties to the soy export industry, reducing the withholding rate to 31%, which will now be increased again.
The rest of the cereals, such as wheat and corn, will pay 15% export duties, as will sunflower.
In total, 18 products will have 0% withholdings: olive, rice, bovine hides, dairy, fruit (excluding lemon), horticulture, beans, potatoes, garlic, chickpeas, peas, lentils, honey, sugar, yerba mate, tea, equines and wool.
He wine sector will continue with withholdings of 8%, while the export rights currently in force for hydrocarbons and mining will remain in force.
Source: Ambito
