Home Argentina economy Argentine government to remove service export duties

Argentine government to remove service export duties

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Buenos Aires, Sept. 24 (EFE) .- The Argentine government announced on Friday that it will abolish export duties on services produced in the South American country from 2022, according to a statement from the Ministry of ‘Economy, with the aim of “promoting the creation of quality jobs, generating foreign exchange and correcting the measure applied from 2018, which has harmed the sector”.

It is the second largest exporting complex in the country, only surpassed by the oilseeds segment, since the service industry – which is multisectoral including IT and programming, professional services, design, etc. – has exported a total of of 5,700 million euros in 2020. dollars a year, Economy recalled, its main destinations being the United States and the European Union.

Export duties on services were first set in 2018, when the administration of Mauricio Macri (2015-2019) set it at 4 pesos per dollar exported, i.e. at the time the equivalent of a 12% aliquot. , to generate exceptional sources of income in the face of the economic crisis, which then fell into a range between 11% and 7% in 2019.

The Alberto Fernández administration established a reduction in the rate to 5% that was in effect throughout 2020 and announced on Friday that it would completely remove the rights to export services from 2022.

The announcement was made by Economy Minister Martín Guzmán during a meeting in which he was accompanied by his productive development partner, Matías Kulfas, and representatives of the private sector that provides services.

“The export duties caused Argentina a grievance vis-à-vis the world because it was the only country that had this tax on its exports and the removal of this tax generates a jump in competitiveness,” said the CEO of Argencon, Luis Galeazzi, who recalled that Argentina has a “large base of professional talents” in a testimony published by Economía.

Guzmán explained that the elimination of these withholdings will benefit the production of knowledge-intensive services and described knowledge-intensive services as “a fundamental sector” in the Argentine economy, “which is very dynamic, generates labor, adds value and generates currency. ”.

“We are betting on this sector by doubling its exports, by doubling the number of people working,” Kulfas added.

(c) EFE Agency

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