To support its domestic car manufacturing industry the Argentine government has announced a change to the country’s customs duty regime and introduced higher taxes on imported vehicles and motorbikes. According to the statement through a resolution published in the nation’s Gazette on January 6, 2012, the Ministry for Commerce, Public Finances and Industry, had lowered the threshold under which vehicles and bikes will be subject to a 10% customs duty rate.
The previous threshold of the vehicle values had also been lowered in the new proposal from ARS212,500 to ARS150,000 (USD34,700) net of VAT and dealers’ profit margins, and brought under tax on import. Similarly 10% rate was made applicable for the luxury motor vehicles, e.g., motorbikes above ARS22.000 in value.
