The Government sets the statistical tax rate for certain capital goods and temporary import suspension destinations at 31% until December 0, through the decree 361 / 2019.
The measure, published in the Official Gazette this Monday (20.5.2019), establishes "Until December 31, 2019, at 0%, the statistical rate rate contemplated in article 762 of Law No. 22.415 (Customs Code) and its amendments, applicable to: Capital goods imported to be used within the framework of investments in hydrocarbon production developments from non-conventional reservoirs«.
The benefit extends to imported capital machinery that is part of an investment project for industrial production such as "goods imported within the framework of Decrees Nos. 1174 of November 15, 2016 and 629 of August 9, 2017 and Resolutions Nos. 909 of July 29, 1994 of the former Ministry of Economy and Public Works and Services and its amendments, and 256 of April 3, 2000 of the former Ministry of Economy and its amendments", the official text states
Likewise, the measure will apply to ""temporary import suspension destinations, regardless of the regime under which they are processed".
On May 6, the Government had established by the Decree 332 that an increase in the statistical rate from 0,5 to 2,5% for definitive import destinations for consumption and temporary import suspension destinations.
The new decree will come into force on Tuesday. May 21th 2019.
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