lunes, 13 de agosto de 2012

More deductions to biodiesel in Argentina

The Argentine government said that biodiesel is "a growth industry." and announced an increase of 14.2% to 24.2% the tax on exports of biofuels.

In a press conference with Secretary of Economic Policy, Axel Kicillof, the minister referred to the publication of various resolutions in the Government Gazette today, and said that "this measure was much more convenient to increase the withholdings or put quotas on soybean exports. "

Meanwhile, Kicillof said that "global production to date ranged from about 220%," so concluded that "it is extraordinary that an industry in 2011 reached 18.5 million tons."
Speaking at the Palace of Micro Finance, the Deputy Minister noted that biodiesel is "a very dynamic industry and growing."

The government ordered an increase of 10 percentage points for the deductions that apply to exports of biodiesel, so they pass the current 14.2% to 24.2%.

Furthermore, these exports withdrew the reinstatement of 2.5 percentage points had been granted since the implementation of Regulation and Promotion Scheme for Sustainable Production and Use of Biofuels.
It was also learned that the government froze the price of biodiesel for the domestic market setting it at $ 4,405.3 pesos per ton (Res.1436/12) against $ 5,195 that had set the previous month.
The increase in retention was established by Decree 1339/12, published today in the Official Gazette.

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