Buenos Aires, December 19th. In September 2018, President Macri’s Administration decided to re-impose export taxes for all good and services exported from the country. Thus, cereals passed from no paying these duties to pay around 10% of the FOB price of the goods sold. Also, the Government decided to impose a little difference between raw material and manufactures exported: the first ones pay AR$4 per dollar exported, while the second ones pay AR$3 per dollar. This gap would mean a “premium” to add value locally.
But in the case of the soybean complex, both the bean as the oil and meal pay AR$4 per dollar exported, clear discrimination against the crushing industry.
Last month, the Agricultural Technology National Institute (INTA) released a forecast about the expected tax collection from exports. The study shows that the National Government will collect around US$8 billion, where the half will come from soybean farmers, both bean and by-products exports. “The soybean complex will contribute 55% of the total export taxes”, the study shows.
On the other hand, wheat, corn, sunflower, and barley farmers will contribute 14% of the total tax collection, while ag-industry will contribute with an additional 9%. Non-agricultural industry and service will contribute with the remaining 22 percent.
The INTA’s study also shows that soybean complex doubles its foreign trade share as a tax contributor, while grains and agricultural manufactures tribute a half of its foreign trade share.
Access to the original report (only in Spanish) clicking here: report