The meeting was not casual. After a few days of mystery, the government yesterday unveiled the new aliquots that will apply to export refunds. Hardly known is the fine print of the measure in the appendices of the
The twelve terminals – last week Nissan participated in this national industrial conglomerate – exported US $ 6498 million in 2018, according to annualized data until July. In that period, US $ 426.1 million was returned in export refunds, while with the known change they would receive US $ 156.8 million yesterday, representing a saving of US $ 269.3 million for the Treasury. This amount also represents, according to the calculations of the Ministry of Production, 49% of the total fees paid to the conglomerate of industrial originators (MAI).
The impact of the reduction in exports on car exports is so great in the total amount of this indirect return on taxes that the amount saved in the entire conglomerate of producers of agricultural origin (MOA), for example, is just higher. : reached US $ 355.6 million, according to official data.
In the automotive sector there was a surprise yesterday. Although they proposed that with the tax reform adopted in Congress last year, they would reduce their export refunds,
timand the magnitude generated discomfort.
"It is not easy to explain to the parent companies this change in the rules," they asked.
THE NATION of the automotive sector, one of the sectors that invest the most.
"It is difficult to imagine that this adjustment of allowances will leave them in a situation of weakness or prevent them from maintaining the momentum of forward exports to sectors, like many of the industrialists, who are already major exporters." Yes, they can point out that it was a measure they expected, at least this year, and that this can affect short-term issues from the point of view of changing the rules, we thought, but if it was necessary, "he said. in an interview
THE NATION the minister of production, Dante Sica, last Saturday.
The decline in export refund rates in the automotive sector averaged 6.5% to 3.2%. However, between Sica and the Minister of Industry, Fernando Grasso, they decided to make some internal differentiations. In the case of cars (95% of the car chapter), the 6.5% rate was maintained for exports outside Mercosur, which currently represents only 25% of sales, "with the aim diversification "as justified in the government. To the same extent, sales within Mercosur underwent a reduction of the aliquot to 2%. The reduction for car parts was only 1.5 percentage points, as explained.
The presidents of Ford, Gabriel López, took part in the meeting with Sica; from Iveco, Marcus Cheistwer; from Scania, César Luis Ramírez Rojas; Toyota, Daniel Herrero, and Volkswagen Argentina, Hernán Vázquez, and representatives of the management committee of the entity.
On the problems that were addressed, Vazquez said that, taking into account the export profile of the industry, "the reduction of fees is opposite to the goal of the same, that is, offset by the repayment of the previous taxes paid in the various stages of production, and in this way avoid export. " And in a statement he warned: "They can influence the export and production plans of the sector."
In the government, they estimate that with the tax reform, which will have a full effect from next year – the tax burden will drop by 1.5 points of GDP – and the new dollar, which is 25% more competitive, will reduce the repayments. compensate. They also say that Brazil, the main trading partner, eliminated export refunds last month.
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THE NATIONThe Ministry of Production also reported that it works at the request of the private sector (which has already taken several months) on the basis of situations that already exist in other sectors, such as tobacco. It is the intention of the terminals that the internal tax is not updated annually by official inflation – as determined in the tax reform – but on a quarterly basis, especially in a context of strong cost increases. Due to the limited tax margin, it is a request pending approval by the Treasury.
Keys to the tax package
The government published yesterday the new aliquots that will apply to export refunds. The most affected sector is the car industry, the rate of which will be reduced from 6.5% to 3.2%.
The estimated contribution of the automotive industry, according to production data, is $ 8,200 million per year. Depending on the output, differentiation will take place to Mercosur or to countries outside the regional block
The government maintains the monthly reduction of 0.5% to the export duties of soy until December 2019. The aliquot is today 26%. But it suspended the reduction of those duties for the flour and oil from the soybean, which is today in 23%, until February next year.
This means that from 3 March the 3% differential tariff that exists between grains and processed products will disappear.
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