ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On 22 October 2014, the President of Argentina Cristina Fernandez de Kirchner granted a tax break to Pan American Energy LLC (an oil and gas exploration and development company functioning as a subsidary of Bridas Corp). According to consistent press reports, this selective tax cut lowered the rate that Pan American Energy LLC pays on crude exports to 10 percent from previously 45 percent.
According to industry intelligence, Pan American Energy LLC is the second largest oil producer in Argentina with a market share of 17 percent.
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