By Decree No.160/2015, published in the Official Gazette on 21 December 2015, and in force since such date, a new export duties reduction has been ordered by the President in relation to industrial exports. Taxand Argentina highlights the impact of the update.
As a consequence, and with few exceptions, a 0% export duty rate has been fixed for exports for consumption (i.e. definitive exports) of goods included in Chapters No. 28 to 40, 54 to 76, and 78 to 96 of the MERCOSUR Common Nomenclature.
This measure benefits goods such as products of the chemical or allied industries; plastics and articles thereof, rubber and articles thereof; certain textiles and textile articles; footwear, headgear, umbrellas, sun umbrellas, walking-sticks, seat-sticks, whips, riding-crops and parts thereof, prepared feathers and articles made therewith, artificial flowers, articles of human hair; articles of stone, plaster, cement, asbestos, mica or similar materials, ceramic products, glass and glassware; natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and articles thereof, imitation jewelry, coin; certain base metals and articles of base metal; machinery and mechanical appliances, electrical equipment, parts thereof, sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles; vehicles, aircraft, vessels and associated transport equipment; optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus, clocks and watches, musical instruments, parts and accessories thereof; arms and ammunition, parts and accessories thereof; miscellaneous manufactured articles.
Biodiesel and certain iron and steel’s waste and scrap were excluded from this export duties reduction.
Argentinian businesses operating in the chemical or allied industry sectors should take note of this reduction, to ensure they are maximising the benefits.