President Alberto Fernández, has decreed a double redundancy compensation to workers for a period of 180 days in case of “dismissals without just cause”, as means to “stop the worsening of the labor crisis “. In the case of dismissals without just cause ”the affected workers will have the right to receive double the corresponding compensation in accordance with current legislation,“ says the decree.
The head of Cabinet, Santiago Cafiero, confirmed this Sunday that the national government will apply a 30% tax for purchases abroad and payments of services to companies located outside the country such as Netflix and Spotify.
President Alberto Fernández modified by decree this weekend the withholding scheme for agricultural exports by canceling the limit of 4 Argentine pesos per dollar that had been applied when the exchange rate was ca. ARG$ 28. The implementation of the update means an average tax increase of 5.3% with different margins on export duties for certain tariff positions.
Argentine soy crushing giant Vicentin has halted most of its operations in its owned processing plants as the company battles to restructure its debt after defaulting earlier this month. Vicentin has around $350 million in outstanding payments to suppliers, while financing deals with local and international banks add up to well over $1 billion. The production issues threaten to ripple through global markets and hit domestic supply of edible oils.