Argentina plans to raise taxes on soybean, soyoil and soymeal exports to 33% from the current 30%, the Agriculture Ministry said on Tuesday, as the government moves to increase revenue ahead of a planned sovereign bond restructuring.
Reuters reports that ministry officials met with farm groups during the day to discuss the new policy, which is part of President Alberto Fernandez’s plan for making the country solvent after announcing it will have to revamp about $100 billion in what it calls unsustainable debt.
A government decree providing details of the new tax policy was expected to be published on Wednesday.
