But its detractors argue that the legislation, in its anxiety to attract international investment, doesn’t do enough to help Argentina build reserves or develop local industry. The RIGI offers tax, customs, legal, and foreign exchange benefits for investments exceeding US$200 million. Corporate tax breaksInvestors with projects in the RIGI will pay 25% corporate income tax, instead of the current 35%, for thirty years. Under the RIGI, projects will be exempt from import duty on capital assets, machinery, and spare parts, and exempt from paying export duties for three years. In May, presidential spokesman Manuel Adorni said it was essential to clinch key investment after a decade of flat exports for Argentina.

Source: Bueno Aires Herald June 29, 2024 11:29 UTC