ANNOUNCEMENT 02 Dec 2008
The Government of Argentina modified the export rebates regime affecting certain products enclosed in 9 tariff lines.
This regime consists of the total or partial reimbursement of the internal taxes related to the production and commercialization of the exported goods. The rebates specify a percentage of the exported good's FOB value that is granted as a tax credit. The tax credit may then be used to pay internal taxes such as the VAT on inputs for the exported products.
It is important to point out that only products with certain particular characteristics such as package volume or species enjoy the rebates.
NUMBER OF INTERVENTIONS
InfoLeg. Ministerio de Economía y Producción. Nomenclatura Común del MERCOSUR. Resolución 656/2008. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/145000-149999/147959/norma.htm
On December 2, 2008, the Argentine Ministry of Economy and Production adopted Resolution 656/2008 increasing the applicable export rebates on 7 eight-digits tariff lines (NCM 1604.19.00, 1604.20.90, 0303.79.90 and 0304.99.00). The new values have increased by 1%, 3%, 6% and 9% depending on the product.
Resolution 656/2008 issued on December 2, 2008, by the Ministry of Economy and Production of Argentina, also reduced the export rebates on 2 eight-digits tariff lines (0304.99.00 and 1604.20.90). The new values were reduced by 1% and 9% depending on the product.