Oil Sector. Elimination of Export Duties

Law 25,561 established exports duties on hydrocarbons exports for a five-year term The Executive Branch was empowered to set the relevant rates.

Law 26,732 extended such duties and the power granted to the Executive Brach for an additional five-year term. Export duties on hydrocarbons exports were previously extended by Law 26,217.

By virtue of delegated powers and through Resolution 1077/2014, the former Ministry of Economy set a tax rate of 1%, provided that the international oil prices were below USD 71.

The extension set by Law 26,732 was due on January 7, 2017. The Argentine Government did not set a new extension.

As a result, on January 7, 2017 the online Customs system stops applying them.

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