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Argentina reinstates refunds for agriculture exports

Staff Writer |
Argentina has decided to reinstate refunds for agriculture exports. The fiscal cost is estimated to be $165 million.

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On average refunds will go up from 0.5% to 4%, and should help lower the tax burden for the agro-export business, according to government officials.

Wheat flour refund increases to 3% (wholesale) and 4% (in one kilo packages). This follows on the elimination of export taxes on wheat inherited from the previous government.

Although industry has requested an 11% refund, “it's a great advance” admitted Diego Cifarelli, president of the Argentine milling industry association.

Beef exports which had no refunds will have a range between 2.5% and 4%.

Pork also was benefitted with a range of 2.7 to 4%, and broilers, will average 4.5%. Dairy produce exports will also receive an average refund of 4%. Sunflower oil, 3%, corn flour will receive an additional 0.5%, and rice between 2% and 3%.

For some regional economies there will also be refunds for honey, olive oil, tea and mate, depending on the degree of industrialization.

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