Global Trade Alert

On 15 November 2011, the Federal Administration of Public Revenue (AFIP) adopted General Resolution 3216, which introduces reference prices on imports of certain wood products (e.g. continuously shaped wood, fiberboard, and plywood), from specified countries. The items figure under various Mercosur Nomenclature codes under headings 4409, 4411, and 4412: we refer to the General Resolution for a comprehensive table. The corresponding reference prices, which represent free on board values, range from USD 0.51 to USD 1.39 per kg for continuously shaped wood and fiberboard, and from USD 330 to 964 per m3 for plywood.
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 <U+200E>
The measure took effect on 22 November 2011.