Argentina reinstates refunds for agriculture exports
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. ■