ANNOUNCED AS TEMPORARYYes
On August 10, 2017, Argentina issued the Presidential Decree 629/2017 reducing import duties on used oilfield equipment. The new legislation states that in the cases where the imported equipment could be produced locally, a certain percentage ranging between 15% and 80% of the total value of the imported good has to be invested in the purchase of locally produced equipment. These percentages vary depending on the tariff line and how old the imported product is.
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