This was confirmed by the Minister of Economy, Luis Caputo. The objective is to increase competitiveness and exports.
The Government will eliminate withholdings for 88% of industrial products. The goal is to avoid discouraging foreign sales, which In 2024 they represented about US $ 3,804 million.
This was confirmed on Wednesday by the Minister of Economy, Luis Caputo. The officialization of this measure will be released in the next few days in the Official Gazette.
“The measure will initially benefit from 3,580 companiesalmost 40% of those exported in Argentina, “said the official. Among the products included appear agropartes, casting products, agricultural machinery, optics, glass, auto parts, machinery and equipment, watchmaking, blood prepared or hormones made by the pharmaceutical industry, such as tubes, cables and insecticides, cosmetic, parts of motors, plastics and metals, among others.
The Government seeks to lower “distortive taxes”
“The ordering of public accounts makes it possible to continue lowering distortive taxes. Along these lines, in January 2025, the Ministry of Industry and Commerce of the Ministry of Economy eliminated the export rights of agribusiness activities of regional economies and their value chains such as the cotton textile, paper, cardboard, food and drinks, in addition to reducing withholdings to the main agricultural products, “Caputo recalled.
According to the Government’s gaze, withholdings affect the competitiveness of Argentine companies abroad and discouraged them to export. From now on, Only export rights will continue to pay some sectors of basic inputs disseminated such as iron, steel, aluminum and petrochemical industry, and the automotive industry.
Earlier, from the Argentine Industrial Union (UIA) they had announced that the entity was working with the Government to eliminate the withholding of exports from SMEs. “The improvement for the export conditions of industrial SMEs implies that they are removed between 3% and 5% of rights, which implies an important improvement at the microeconomy level, but a low fiscal impact, “they said.
Source: Ambito
