The Chamber of Exporters of the Argentine Republic (Wax) highlighted the recent decline in retentions to industrial products as a measure that could reverse more than a decade of fall in manufacturing exports.
The Chamber of Exporters of the Argentine Republic (Wax) He expressed his satisfaction with the recent decision of the Government to reduce the withholdings to exports of industrial products, a measure that the entity had insistently requesting, even in recent communications from the Minister of Economy, Luis Caputo.
According to wax, this reduction represents “a significant advance” after more than ten years of decline in industrial exports, period during which The participation of exporting SMEs fell below the average of less developed countries.
“With a moderate fiscal sacrifice, a tax that virtually no country applies” is eliminated “the entity said, underlining that the measure arrives in a complex international context, where there is no room for export taxes.
However, wax warned that There is still a way to go in the elimination of rights and other taxes that affect export competitiveness. Despite this, the Chamber emphasized the correction of the course and compliance with commitments by the government.
This measure is part of a set of actions aimed at stimulating industrial exports, especially SMEs, which have seen a significant decrease in their participation in foreign trade in recent years.
Source: Ambito
