Argentine President Nestor Kirchner has signed a decree that will allow firms to import certain industrial goods tax free as long as they are destined for re-export.
The decision, announced by Economy Minister Roberto Lavagna at a press conference last week, expands an existing scheme by lowering certain costs and widening participation to those companies that don't use the imported part in the "first productive round."
The President has also signed a second decree granting specific companies tax benefits for machinery that was imported in 1998 (when the country entered a deep recession) by allowing them to use machinery that was originally intended for re-export.
The new measures have come about as a result of discussions with Argentina’s largest industrial lobby group, the Argentine Industrial Union, explained Lavagna.
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