Argentine government eliminates duties on incremental auto exports

Argentina’s Minister of Economy, Productive Development, Agriculture, Livestock and Fisheries, Sergio Massa, announced today, Thursday, the elimination of taxes starting this year for incremental exports of automobiles and auto parts.

“We want to announce that all incremental exports, everything we increase this year in automotive exports, will not pay export duties.”

“We want to reward the production of Argentine labor to the world, the investment, the talent, the human capital, the effort of our workers sold to the world,” said Massa after a meeting with representatives of the automotive sector, including union leaders.

The amnesty will apply to car sales over the 322,000 units shipped last year, said the head of the financial portfolio.

Massa highlighted the automotive industry’s performance during 2022, with close to 50,000 new jobs created “to reach 600,000 jobs in the whole industry”.

The minister predicted an increase in these indicators for 2023, with an estimated production of 620,000 vehicles.

According to state news agency Télam, 322,286 vehicles were exported in the twelve months of last year, up 24.3 percent compared to 2021, when 259,287 units were traded abroad.

Among the main export destinations for cars manufactured in Argentina are Brazil, with 62.8 percent of the shipments; Central American countries, Colombia, Chile, Peru, and Mexico, according to official data.

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