Global Trade Alert

On November 11, 2010, the Federal Administration for Public Revenue of Argentina adopted General Resolution 2956/2010 increasing the reference prices applicable to the importation of steam irons originating in certain locations. The product subject to this measure is classified under the following tariff line of MERCOSUR's Harmonized System: 8516.40.00.

The new reference prices entered into force on 15 November 2010.

The new reference prices have been increased from a FOB value ranging between USD 8.00 and USD 9.00 per unit depending on the country of origin to a single FOB value of USD 13.50 per unit. The previous applicable values were set at External Notice 100/2008.

This General Resolution affects the following jurisdictions: the Republic of Korea, Democratic People's Republic of Korea, Philippines, Hong Kong, India, Indonesia, Malaysia, Pakistan, Singapore, Thailand, Vietnam, Brazil, Colombia, Chile, Ecuador, Paraguay and Uruguay.

Import Criterion Values
Argentina introduced reference values of precautionary nature for imported goodsinJune2005(in Spanish:valorescriteriodecarácterpreventivo). The stated purpose is to strengthen customs control and prevent under-invoicing. Importers are required to provide guarantees for the difference in duties and taxes if the declared price of an import is lower than its reference price (see 7th GTA Report and 2014 National Trade Estimate Report). A list with all current import reference prices can be consulted under:www.afip.gov.ar/aduana/valoracion/valores.criterios.pdf