The Government modified the modality of imports for the oil industry, through the decree 555/2019.
The measure, published this Monday (12.08.2019) in the Official Gazette, deals with the «Special regime for the import of used goods for the hydrocarbon industry», a measure to speed up the consumption of goods destined for the sector and that the local industry cannot provide.
Imports of capital goods from this industry "are currently subject to the general import regime or special regimes that do not directly contemplate the purposes established in this matter," the decree states in its grounds.
The official text adds that "the goods in question cannot be supplied by local industry, in the time and quality required by the processes in question."
Furthermore, it states that "the interested party must commit to the acquisition of new goods of national origin for an amount equal to or greater than a percentage of the total value of the imported used goods acquired within the framework of this framework."
The decree also discriminates against imported goods under the Mercosur nomenclature, which "may be imported permanently for consumption, paying the import duty indicated in each case."
The regulations were approved by the president Mauricio Macri, by the Chief of Staff and Ministers Dante Sica and Nicolás Dujovne.
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