October 8 (Askume) – The Argentine government announced it wouldImplement measures to streamline and simplify business operations in the country .
Why is this important?
According to the Ministry of Regulation and National Transformation, these measures are intended to raise Argentina’s exchange rate against the US dollar. The peso is traded at official rates as well as unofficial rates for goods and commerce.
situation
The new rules will remove the requirement to price certain imported products according to market and obtain a tax stamp from tax agency AFIP.
By number
The government estimates that these measures will increase the profitability of exporters by 1%, while reducing the profitability of importers by 1%.
Key Quotes
“The state should not be run with the mentality that everyone is a criminal,” said Federico Sturzenegger, the minister of regulation and state transformation who (along with liberal President Javier Melli) is leading efforts to eliminate cumbersome state bureaucracy.
“(Customs) controls will remain the same,” said Flornesia Misrahi, head of the AFIP, “but these measures are aimed at allowing customs to control only what it needs to control.”
what happens next
Full details of the rules will be published in the country’s official gazette on Wednesday.
