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Argentina to Cut Thermoprocessed Meat Taxes

16 April 2012

ARGENTINA - Argentine President Cristina Fernandez has announced plans to lower some beef export taxes in exchange for ensuring jobs.

The export taxes are to be cut fromm 15 to five per cent on thermoprocessed meat.

However, the president has demanded that the processing companies retain all their employees.

According to a report on MercoPress the president said: “Thermo-processed meat will enjoy a ten point reduction in export levies, but in exchange meat processing plants must keep all employees.

The cut in levies will represent a boost to the meat processing companies of $12.5 million according to teh president.

"So jobs will have to be respected and we expect a five per cent increase in export volume," Cristina Fernandez is reported to have said.

A committee consisting of the Economic Planning Secretariat, the Trade Secretariat, the Labour Ministry and AFIP (tax revenue agency) is to be formed to ensure all employees keep their jobs.

The president said that the thermoprocessed industry is the one which provides most added-value to meat products so “it is important that the effort from the government giving up revenue, is fully compensated by the entrepreneurs because we’re talking about a significant amount of money”, the report says.

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