Argentina abolished import duty on soybean industry

2019-05-20 12:41:57
Machine translation
Argentina abolished import duty on soybean industry

Argentina will cancel the import duty on the goods which will be imported into the country for use in the production of the main export products of the country – soybean and shale gas, reports the Agency "Reuters" with reference to the head of the Ministry of Finance Nicholas Spiritual.

 

In may, the Argentine government has raised the import duty to 2.5% with the aim of increasing tax revenues, which should help to overcome the protracted economic crisis.

 

In the execution of the signed in 2018, the agreement with the International monetary Fund, Argentina needs to reduce costs and increase budget revenues. Now the country is a world leader in production of soybeans and soybean meal exports.

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