Argentina To Eliminate Taxes Paid By Biodiesel Producers

Posted by Joseph R. Fonseca
Monday, April 21, 2014
Argentine President Cristina Fernandez

 

Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures.

Argentine biodiesel exports are expected to plunge as much as 39 percent this year versus 2013 due to tariffs imposed by the European Union, according to theArgentine industry sources.

The tax cut would last only as long as Europe's sanctions do, according to the proposal.

"We are in a trade war," Fernandez said in announcing the measure, which will be sent to Congress in the days ahead.

It was the latest in a series of pragmatic policy shifts by Fernandez this year as she contends with high inflation and slow investment and growth in Latin America's No. 3 economy.

In the past three months she has cut heating gas subsidies and let the peso devalue by 18 percent. Fernandez has also earned kudos from investors by revamping the government's shoddy inflation reporting and agreeing to pay Spain's Repsol $5 billion for the 2012 nationalization of oil company YPF. (Reporting by Jorge Otaola and Hugh Bronstein; Editing by Bernard Orr)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

Enterprise to Export First Ethane Cargo from Houston Terminal in August

Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1,

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

News

Container-on-barge Returns to Baton Rouge

Container-on-barge services have returned to the Port of Greater Baton Rouge to provide the petrochemical industry with another option to move its products.   Operated by SEACOR AMH,

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Enterprise to Export First Ethane Cargo from Houston Terminal in August

Enterprise Products Partners on Thursday said the first ship to load ethane for export from its new terminal on the Houston Ship Channel will arrive on Aug. 1,

People in the News

Brown Named Bureau Veritas Communications Director

Nick Brown has been appointed Bureau Veritas’ new Communications Director, Marine & Offshore Division, the classification society announced.    Brown will take up the post from November 2,

Shipping Must Disclose or Risk Being Exposed - Moore Stephens

International accountant and shipping adviser Moore Stephens says the shipping industry must adopt a transparent, proactive approach to corporate governance or

KVH's Zika Virus Safety Video for Mariners

KVH Industries, Inc., (Nasdaq: KVHI), announced today that it is offering Videotel’s new safety and training video about the Zika virus free to all mariners worldwide.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0910 sec (11 req/sec)