Global Trade Alert

On 17 August 2010, the Federal Administration of Public Revenue (AFIP) adopted General Resolution 2894, which introduces reference prices on imports of crossheads and tripod joint spiders, for motor vehicles, from specified countries. The items figure under the Mercosur Nomenclature code 8708.99.90. The corresponding reference prices, which represent free on board values, range from USD 10.50 per kg to USD 13.00 per kg.
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
The measure took effect on 24 August 2010.