ANNOUNCED AS TEMPORARYNo
On 29 January 2014, the Federal Administration of Public Revenue (AFIP) adopted General Resolution 3585 which increases the reference prices on imports of synthetic fabrics originating from various Asian countries (see 'Affected Trading Partners'). The nine types of fabrics figure all under the Mercosur Nomenclature (NCM) 5513.23.10. The corresponding reference prices, which represent free on board values, range from USD 5.4kg to USD 9.44kg. Eight of the reference prices increased while one decreased compared to the previous values.
Argentina introduced reference values of precautionary nature for importgoods in June 2005. The stated purpose is to strengthen customscontroland prevent under-invoicing. Importers are required to provideguarantees for the difference in duties and taxes if the declared priceof an import is lower than its reference price (see 7th GTA Report and 2014 National Trade Estimate Report). A list with all current reference prices can be consulted under: www.afip.gov.ar/aduana/valoracion/valores.criterios.pdf
The measure took effect on 7 February 2014 and suspends the anterior reference prices for NCM 5513.23.10 stipulated in General Resolution 3497/2013 (see 'Related Measures').
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