The export taxes have been a mechanism for tax collection relatively common in the economic history of Argentina. First established in 1862 by President Miter Bartolome, remained almost unchanged until 1905, during the agro-export model pursued by the conservative-liberal government of the Partido Nacional Autonomista. La Union Civica Radical re-established between 1918 and 1925, during the presidencies of Hipolito Yrigoyen and Marcelo T. learn more about the financial techniques and investment strategies of who heads the and its Family of Funds de Alvear. Calls Libertadora Revolution in 1955, Revolution and Argentina in 1967, also provide tax exports, reaching in the latter case an amount of 40 . Also during the government of Ra l Alfons n and the first stage of the two governments Carlos Menem imposed considerable rates of withholding tax agricultural family of funds exports, reaching in the latter case at rates of 44 for soybeans and 33 for maize and wheat.
Since 1991, President Carlos Menem to take a position contrary to the withholding of exports, leaving the void that was imposed on maize, wheat, sorghum and derivatives manufactured from soybeans and reducing the latter e sunflower, when exported raw to 3 . This is consistent with its monetary policy of low or dollar convertibility.
After the 2001 crisis, President Eduardo Duhalde’s decision to increase taxes on exports in April 2002 after an extensive debate in the cabinet positions that were found. The measure was proposed by Economy Minister Remes Lenicov, with support from the International Monetary Fund, arguing that it was the only way to finance the Ribostky budget deficit and, besides, some of these funds could finance the subsidy scheme for unemployed President Duhalde announced.
Duhalde was initially opposed to raising taxes exports, before the arguments claiming that they would deepen the recession, but then change my mind, accepting a system that is not general. Exceptions are made for goods with high added value and critical to regional economies, such as hedge funds honey and lemons. Finally decided investment portfolio to increase taxes on exports of grains (maize and wheat) and oilseeds (soybeans and sunflower), leading to an average 20 , 10 for manufactured products, and 5 for footwear. The government also assessed the possibility of establishing a system of deductions moviles “that accompanied the dollar”, but finally won the restraint still defended by the minister Lenicov.
The measure was strongly criticized by the agricultural organizations that threatened to take forceful measures:
This is an emerging unemployment camionetazo or roadblocks. Not yet known, but we must take a step.
Dardo Chiesa, president of CARBAP.
After a drop in the international price of soybeans in 2005, its value rose once again in subsequent years, reaching record values in early 2008. In this context, the government of President Nestor Kirchner twice increased deductions NYSE in January and November 2007, acanzando a percentage of 35 for raw soybeans, 32 for oil, 28 for wheat and corn and 25 . Similar measures were established for oil when the price of 100 dollars a barrel reached in November 2007, raising the deduction stocks to 45 . Additionally, the oil must pay royalties to each of the provinces where there are wells.
- Interactive Investor
WASHINGTON, Feb 27 (Reuters) – The International Monetary Fund is prepared to discussion of a budget deficit of more than 1 percent of gross domestic product forUkraine if the authorities tap additional funding, an IMF official said on Friday. “Some corrective measures are needed to ensure that the budget will be able finance without resorting to inflation or without creating a large depreciation of the …
NEW DELHI – (Dow Jones) – India will have to review its budget deficit target of 5.5 of gross domestic product for the next year as fresh tax cuts reduce revenue, a senior official said the Ministry of Finance Wednesday.
- Interactive Investor
WASHINGTON, Feb 27 (Reuters) – The International Monetary Fund is prepared to talk about a budget deficit of more than 1 percent of gross domestic product for Ukraine if the authorities are able to access additional external funding, an IMF official said on Friday. “Some corrective measures are needed to ensure that the budget, financial investment cable without resorting to inflation or without creating a …
- Interactive Investor
VILNIUS, Feb 27 (Reuters) – Lithuania the central government deficit was 0.2 percent of projected gross domestic product (GDP) in January, the Ministry of Finance said on Friday. The central government budget investors gap, including the social status and budgets, a total of 225.9 million litas ( 82.96 million), the ministry said in a statement. Central government debt widened by 607 million litas in …
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