The Argentine government on Wednesday (29.11.2017) introduced a reduction in domestic taxes on electronic products in an attempt to improve the productivity and competitiveness of the industry and reduce consumer prices.
The measure, arranged by means of a Decree 979 / 2017 published in the Official Gazette, reduces the rate for products manufactured in the southern province of Tierra del Fuego to 0% and for those not manufactured in that province it is gradually reduced to 0,0 in 2024.
Internal tax rates for products not manufactured in the country will gradually fall from 10,5% in 2018, to 9% in 2019, 7% in 2020, 5,5% in 2021, 3,5% in 2022, 2% in 2023 and 0% from 2024.
"We are seeking gradual ways to resolve structural problems. This commitment by all parties was unthinkable a few years ago," said Production Minister Francisco Cabrera in a statement.
He added that "the agreement seeks reduce the price of technology"which affects the competitiveness of the entire economy across the board, preserving jobs in the sector, and at the same time diversifying the productive profile of the province."
The measure includes products such as cell phones, air conditioners, televisions and microwaves, among others.
Recently, the Government of President Mauricio Macri, the Government of the province of Tierra del Fuego, unions and business chambers reached an agreement to improve the competitiveness of the sector.
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