Argentina accidently lifts biodiesel taxes by nearly 10-fold

December 23, 2015 |

In Argentina, the national government increased retentions on biodiesel by mistake from 3.3 to 32 percent. Production authorities have assured producers that in the coming days there will be a rectifying measure. The withholding scheme is reducing this tax in the case of soybeans. Wheat, sunflower and maize, for example, were at zero percent. Latches for the export of soybeans fell from 35 to 30 percent and soybean oil, 32 to 27 percent. Exports of biodiesel taxed 3.3 percent of withholdings and were expected to spend at zero percent, but mistakenly climbed 32 percent.

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Category: Policy

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