Argentina to Scrap 4.5% Industrial Export Taxes Within 12 Months

2 articles · Updated · Reuters · May 22

Starting in July, Argentina will cut export taxes on automotive, petrochemical, chemical, rubber and machinery shipments by 0.375 percentage points a month until they reach zero.
The phased rollback targets levies now set at 4.5%, extending Economy Minister Luis Caputo's broader Friday push to reduce export taxes, including on major agricultural goods.
Autos accounted for $8.78 billion, or just over 10%, of Argentina's exports last year, while oil and petrochemicals brought in $11.77 billion, or 13.5% of the total.
Those figures show the tax cuts are aimed at sectors central to export earnings as President Javier Milei's government presses ahead with a pro-business economic overhaul.

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