Argentina to cut wheat export tax, mulls soy tax reduction
Argentina will reduce wheat export tax to 5.5% from 7.5% starting June, President Javier Milei announced. He also signaled possible soybean export tax cuts next year and upcoming tax reductions for the automotive and petrochemical sectors.
Argentina, a major world supplier of wheat, will cut its export tax on the grain to 5.5% from a current level of 7.5%, President Javier Milei said on Thursday, starting from June.
Speaking at an event at the Buenos Aires Grain Exchange, Milei said that export taxes on soybeans could also be cut by between 0.25 and 0.50 percentage points next January, provided the country’s tax revenue allows for this. Argentina is the world’s top exporter of processed soy.
He also signaled upcoming tax cuts for the automotive and petrochemical industries, noting details of these adjustments will be announced in the coming days.
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Source : Devdiscourse
