ANNOUNCEMENT 14 Aug 2018
The government of Argentina paused the monthly reductions of the export tax on certain soy products.
NUMBER OF INTERVENTIONS
Official Gazette of Argentina. Boletín Oficial de la República Argentina. Nomenclatura Común del Mercosur. Decreto 757/2018. Available at: https://www.boletinoficial.gob.ar/web2/utils/pdfView?file=%2Fpdf%2Fnorma%2F189861%2F20180815%2FPrimera%2FXfODlkgYdPgB8Id39qQsSC1bLS1JVi1bLXJSMDmxq7SHDFAIP2Ep0Z4%3D%2F0
InfoLeg. Poder Ejecutivo Nacional. Nomenclatura Común del MERCOSUR. Decreto 793/2018. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/310000-314999/314042/norma.htm
On 14 August 2018, the Argentine Executive adopted Decree 757/2018 changing the export tax set on soy products classified under tariff subheadings 1208.10.00, 1507.10.00, 1507.90.19, 1517.90.90, 1518.00.90, 2302.50.00, 2304.00.10, 2304.00.90, 2308.00.00, 2309.90.10, 2309.90.60 and 2309.90.90.
Concretely, the new legislation has paused the 0.5% monthly reduction established by Decree 1343/2016 that entered into force on 1 January 2018 and was to be finalized in December 2019. With the new rules, the monthly tariff reduction is now suspended until 28 February 2019. As a consequence, exports taxes on soy products have been frozen at 23% and 16% for the next six months depending on the product, whereas in the previously planned scenario, these tariffs would have been reduced to 20% and 13% accordingly.