ANNOUNCED AS TEMPORARYNo
On 10 April 2014, the Federal Administration of Public Revenue (AFIP) adopted General Resolution 3614 which increases reference prices on imports of gloves, wristlets, and mittens originating from various Asian countries. The items figure under the Mercosur Nomenclature 6116.91.00, 6116.92.00, 6116.93.00, and 6116.99.00.
The corresponding reference prices have been increased from a FOB value ranging between USD 3.00 and USD 6.00 per kilogramme to a FOB value ranging from USD 6 to USD 12 per kilogramme depending on the characteristics of the product.
The new legislation affected 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, Bangladesh, Brunei, Cambodia, Lao, Myanmar and Sri Lanka.
This measure applied to imports taking place as of 17 April 2014.
Argentina introduced reference values of precautionary nature for import goods in June 2005. 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 reference prices can be consulted under: www.afip.gov.ar/aduana/valoracion/valores.criterios.pdf
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