Argentina: Macri axes VAT

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Value Added Tax will not be levied to basic foods till December, said Argentina’s President Mauricio Macri.

In a videotaped message broadcast in national television, Macri stressed Thursday, 15 August 2019 that the reduction of the VAT to 0% will be applied “throughout the country” and “at all points of sale”.

“From the situation generated last Monday, I made an exceptional decision which had never been taken in the history of our country before: we will eliminate VAT on the main foods consumed by Argentine families.”

“I trust this will mean a relief for the pocket of millions of Argentines and we will strictly control that this rule is met throughout the country,” said the President.

The tax free products include bread, milk, sunflower and blended oil, pasta, rice, wheat flours, herbal teas (yerba mate, mate cocido, tea), canned fruits, greens, vegetables, legumes, yoghurts and sugar.

The measure seeks to alleviate the effects of economic instability unleashed after Sunday’s primaries won by opposition leader Alberto Fernández.

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