Argentina Says Biodiesel Export Tax Rate Will Be 19.1%

(Corrects tax rate in first paragraph.)

The Argentine government will charge a 19.1 percent tax rate for soybean biodiesel exports during the next 15 days, deputy Economy Minister Axel Kicillof said today in a press conference held in Buenos Aires.

President Cristina Fernandez de Kirchner announced yesterday that from now on biodiesel exports will be charged a variable tax rate linked to prices, saying the revision had been requested by major producers of soybean biodiesel, such as Bunge Argentina SA, Cargill Inc., Aceitera General Deheza SA, among others.

Soybean biodiesel export taxes will be changed every 15 days, Kicillof said. The tax rate was set at 24 percent until today. Argentina is the world’s largest exporter of soybean biodiesel.

To contact the reporters on this story: Pablo Gonzalez in Buenos Aires at pgonzalez49@bloomberg.net; Silvia Martinez in Buenos Aires at smartinez19@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.