The National Government announced a significant reduction in the tax withholdings applied to the main crops and their derivatives. In addition, it confirmed the permanent elimination of this tax for regional economies.
The announcement was made this Thursday (24.01.2024/XNUMX/XNUMX) by the presidential spokesman, Manuel Adorni, accompanied by the Minister of Economy, Luis Caputo, and the Secretaries of Agriculture and Production, who detailed the scope of the measure.
Caputo stressed that this decision responds to a critical context for the sector, marked by the fall in international commodity prices and the effects of a prolonged drought. “We want to send a clear signal to the countryside, a sector that supports the country so much. These measures seek to alleviate their situation and do fiscal justice,” he said.
Details of the new aliquots
The reduction of withholdings, which “it will be temporary”, covers the following crops and derived products. In detail:
- Soy: from 33% to 26%.
- Soybean derivatives (oil and flour): from 31% to 24,5%.
- Wheat, barley, sorghum and corn: from 12% to 9,5%.
- Sunflower: from 7% to 5,5%.
In addition, the government will permanently eliminate withholdings for regional economies that still had them, benefiting products such as sugar, cotton, tobacco, bovine leather, forestry and rice, among others.
Term and operability
The measure will be in effect from next Monday until June 30, 2025. Producers must pay the fee within five days after the benefit and pay the corresponding foreign currency within 15 business days, according to the Secretary of Agriculture, Sergio Iraeta. For those products without a Sworn Declaration of Foreign Sales (DJVE), the shipment will be the reference instrument.
Minister Caputo stressed that tax reduction must go hand in hand with fiscal stability. “Although we would like to eliminate all withholdings immediately, our priority is to preserve the macroeconomic balance that cost us so much effort to achieve,” he said. The minister recalled that, thanks to fiscal adjustment and the drop in inflation, the country has overcome the twin deficits and reduced poverty by 20 percentage points.
Caputo also urged provinces and municipalities to support the national government's efforts by reviewing "distorting" local taxes, such as gross income and municipal rates.
The Secretary of Agriculture, Sergio Iraeta, described the measure as “fundamental” for the agricultural sector. “It is a critical moment for the countryside, with low international prices and areas affected by drought. This measure is not only a relief, but also a recognition of the sector's efforts,” he said.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
