The government extended until the end of the year the incentive regime for domestic manufacturers of capital goods, a system of key tax reimbursements in sectors such as agricultural machinery companies and other industrial equipment.
From this decision, the national manufacturers will have until March 31, 2019 time to apply for the benefit established in this regime for the sale of capital goods completed until December 31, 2018.
Against the presentation of the sales invoices, they will be able to access “a transferable tax credit bonus, equivalent to a percentage of the sales made”.
The measure was adopted by a decree signed by President Mauricio Macri, the chief of staff, Marcos Peña and the ministers of Production, Francisco Cabrera, and Finance, Nicolás Dujovne, which was published on Monday in the Official Gazette.
“The main purpose of the regime is to improve the competitiveness of the local capital goods industry so that it can participate in equitable conditions in the provision of such goods, thus promoting its domestic manufacture,” the Government explained.