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Message: Re: Pullback.
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Cal
Oct 15, 2020 10:17AM
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Oct 15, 2020 03:31PM

Thanks Okiedo. I do not pretend to be Vice-President in any shape of form. Guess Agricom policy rewarding points per post granted me with such. Other contributors on this board are much more knowledgeable then I .   The true leader and President of this board is you and if any way I can transfer my points to you so your  contribution and position would be truly  recognized.

 In mean time there are some tax issues which Argentina government is trying to settle.

www.bnamericas.com/en/features/argentinas-mining-sector-mired-in-uncertainty

"... President Alberto Fernández promised to cut withholdings upon taking office in December 2019, but implementing the regulation took nearly a year and the 8% rate went into effect only a week ago.

The 8% rate applies to gold and silver exports, while copper, lime and lithium exports are taxed at 3 pesos for every dollar.

While the industry welcomed the move, some considered it insufficient.

“I don't know if the sector is going to improve with these measures in this context. At the global level, it's only a slight mitigation, because the issues of withholdings on exports and the dollar still stand,” says Micone, the former Catamarca minister.

Exports are paid at the official rate of 77 pesos per dollar, far lower than the informal rate of around 150 per greenback..."

 


Oct 15, 2020 05:29PM
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