The Argentine central bank authorised exporting companies to operate in the foreign exchange market for the cancellation abroad of principal and interest services of debt securities issues registered abroad. Communication "A" 7218 allows the issuance of foreign currency debt in the international market to be subscribed by investors from other countries and to bring the dollars into the country.
The government is seeking a deal with Russia that would enable it to manufacture the Sputnik V vaccine in Argentina, the country's new envoy to Moscow has confirmed. The government will push for a technology transfer process so that, eventually, the vaccine can be produced in Argentina, said Ambassador Eduardo Zuain.
Argentina’s government has extended the closure of its borders, extending a decree that prohibits non-resident foreigners from entering the country until the end of this month without special dispensation. The decree prohibits entry through ports, airports and land border crossings, extending existing measures put in place to tackle the spread of COVID-19 in Argentina.
Argentina has formalised restrictions and the reduction of the frequency of flights to and from the United States, Europe, Mexico and Brazil due to a resurgence of coronavirus cases in the country. This reduction of between 30% and 50% from these countries has the objective of “reducing the possibilities of entry of new strains into the country, allowing an exact control and monitoring of the number of passengers per day,” explained the Minister of Transport, Mario Meoni.
Argentina is looking for ways to ensure ample domestic wheat supplies without resorting to shutting down exports, a top official said, as farmers fretted about possible state intervention in the markets. The government, worried about food price inflation, recently tried to limit corn exports, but the idea was beaten back by growers. Now the focus is on wheat, with rumors swirling around the Pampas grains belt that export limits might be on the way.
A one-of-its-kind plan to tax the wind in Argentina has drawn scorn from clean-energy companies. Puerto Madryn, a city on the Atlantic coast where gusts are coveted by wind developers like Genneia SA, wants to tax the megawatts of energy sold by wind farms, according to the proposal. The tax could cost a 100-megawatt farm US$20 million, creating problems for existing projects whose investors won’t have factored in that kind of hit from left field, and halting the construction of new ones.
The transport workers have maintained intermittent roadblocks since Saturday in the central part of the country and could toughen the measure of force while continuing to wait for a call from the government. The agribusiness sector was one of the hardest hit. In the first four days of this week, around 10,000 trucks stopped entering the port, representing an average load of 300,000 tonnes with an approximate value of $145 million. The figures must add $30,000 for each day's delay in loading a ship.
The Revenue Agency of the Province of Buenos Aires (ARBA) implemented the exemption of up to 50% in the Gross Income Tax payment to favour the taxpayers who were most affected by the pandemic. The resolution covers operations accrued between July 1 and December 31, 2020, and extends to a set of 206 economic activities.
According to its characteristics and range, an imported vehicle is today subject to a tax pressure ranging from 96% to 209% on the value arriving at the port. On average, the tax burden ratio to the value of the vehicle is approximately 70% of the final value of the 0km and places it among the most expensive in the world. For national cars, the impact of the tax burden is around 54%.
The government has submitted a bill to Congress to maintain the corporate income tax rate at 30% for this year and postpone until 2022 the timetable for reducing it to 25% as provided in the 2017 Tax Reform. The reduction was suspended for the whole of last year and reinstated on 1 January.