Through the Decree 308/2022, The national government has formalized a new tax scheme applied to copper exports, with the aim of promoting the production of the metal as well as investments in this sector.
The measure was published this Tuesday (14.06.2022/XNUMX/XNUMX) in the Official Gazette, after being announced by the Minister of Economy, Martín Guzmán; and establishes an optional regime for copper export duties offering a progressive rate that will vary according to the price of the metal.
The new optional regime will allow the replacement of the current rate of 4,5 percent with a variable rate, with a range between 0 and 8 percent.
In the announcement, the Minister of Economy said that companies will be able to choose between maintaining a fixed rate of 4,5 percent or choosing a variable rate scheme based on price.
"This will reduce the volatility of the rate of return and we hope that this measure will be well received. It will enable increased investment in copper in Argentina," he said.
The head of the economic portfolio said that the decision "will favor the dynamics of the sector and is the result of constructive dialogue with the provinces and companies" while "providing greater stability and better mechanisms to address volatility patterns that may arise in the international copper market."
The government highlighted the country's "high potential" for producing and exporting copper and noted that there are currently "several projects that would once again position our country as one of the leading producers in the world."
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