ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On 7 April 2009, the Government of Argentina established, through Decree 252/2009, a reduction in the rate of the Internal Tax ('Impuestos Internos') applicable to some electric and electronic products manufactured within the 'Special Customs Territory of Tierra del Fuego, South Atlantic Islands and Antarctica' (the 'Tierra del Fuego Free Zone') . By virtue of this decision, the rate applicable to products eligible for the benefit will be reduced to 38.53% of the general rate.
This reduction in the Internal Tax rate will result in that electric and electronic goods produced in the Tierra del Fuego Free Zone and re-exported to the Argentine Continental Customs Territory (which encompasses the whole territory of the country with the exception of the Tierra del Fuego Free Zone) will receive a more favorable tax treatment than the one granted to: (i) like products manufactured within the Argentine Continental Customs Territory; and (ii) like products imported from foreign countries. In fact, when announcing the measure, the Ministry of Production acknowledged that this measure would 'strengthen the position of electronic goods produced in Tierra del Fuego vis-ŕ-vis the imported ones'.
Entry into force of the measure was postponed several times, and it was finally put into effect by Law 26.539 of November 20th, 2009.
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