Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures, which was the country's main export market.
Argentine biodiesel exports are expected to plunge as much as 39% this year compared to 2013 due to tariffs imposed by the European Union, according to the Argentine industry sources.
The proposal would eliminate the 22% tax on biodiesel for power generation and the 19% levy on liquid fuels. The tax cut would last only as long as Europe's sanctions do, according to the proposal. Apparently the EU measure will be enforced during five years.
en.mercopress.com»
Argentine biodiesel exports are expected to plunge as much as 39% this year compared to 2013 due to tariffs imposed by the European Union, according to the Argentine industry sources.
The proposal would eliminate the 22% tax on biodiesel for power generation and the 19% levy on liquid fuels. The tax cut would last only as long as Europe's sanctions do, according to the proposal. Apparently the EU measure will be enforced during five years.
en.mercopress.com»