LatinNews Daily - 01 September 2022

In brief: Tax relief for Argentina’s automobile industry

* Argentina’s economy ministry has announced “incentives and benefits” to increase the volume of exports from the country’s automobile sector. The measures include tax relief that will see automobile businesses pay 0% duties on exports that exceed recorded foreign sales for 2020. Economy Minister Sergio Massa tweeted that if the State, workers, and businesses worked together then “the sector can generate a positive trade balance of US$400m.”  An economy ministry statement underscored the importance of the automobile industry to Argentina’s economy, highlighting that its production increased by 69% in 2021.

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