Government formalizes cut in export taxes on steer beef

The Argentine government last week published in the Official Gazette the cut in export taxes on grains and steer beef announced by President Javier Milei the previous Saturday during the main event of the Palermo Rural Exhibition. With this change, soybeans are taxed at 26%, cereals at 9.5%, and steer and poultry meat at 5%, among other modifications.

The decree states that the measure was adopted because “this government administration deems it necessary to continue creating favorable conditions for production and foreign trade, in order to strengthen macroeconomic stability and enhance the development of the productive sector in each region of the country, providing certainty to producers, processors, and exporters in the various value chains,” reported the Bichos de Campo portal.

“It is necessary to continue strengthening the export drive of the agribusiness sector with measures aimed at simplification, debureaucratization, reduction of procedures, trade facilitation, opening of new markets, and the reduction of distortionary taxes. This administration views export duties as a distortionary tax that must be eliminated and, to the extent allowed by the fiscal surplus, will be gradually reduced until their disappearance,” stated the decree signed by Milei and ministers Guillermo Francos and Luis Caputo.