ANNOUNCED AS TEMPORARYNo
On April 4, 2012, the Federal Administration for Public Revenue of Argentina adopted General Resolution 3299/2012 increasing the reference prices set on the importation of certain type of yarn (other than sewing thread) of artificial staple fibres from certain Asian and Latin-American locations.
The products subject to this measure are classified under the following tariff lines of the MERCOSUR's Harmonized System: 5510.11.00, 5510.30.00 and 5510.90.00.
The new reference prices for products classified under NCM 5510.11.00 and 5510.30.00 have been increased from a FOB value ranging between USD 2.79 and USD 4.16 per kilogramme depending on the characteristics of the product to a FOB value ranging between USD 3.48 and USD 5.35 per kilogramme. The previously applicable values for these tariff lines were set by External Notice 91/2008.
As for NCM 5510.90.00, the import criterion values has been increased from a FOB value of USD 4.26 per kilogramme to a FOB value ranging between USD 4.70 and USD 5.32 per kilogramme depending on the characteristics of the product. The previously applicable values for these tariff lines were set by General Resolution 2859/2010.
These changes affect the following jurisdictions: the Republic of Korea, Democratic People's Republic of Korea, Chinese Taipei, Philippines, Hong Kong, India, Indonesia, Malaysia, Pakistan, Singapore, Thailand, Vietnam, Brazil, Colombia, Chile, Ecuador, Paraguay and Uruguay.
These reference prices will enter into force on April 5, 2012.
Import Criterion Values
Argentina introduced reference values of precautionary nature for imported goods in June 2005 (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 <U+200E>
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