Argentina · Country watch
Illegal Trade Costs Argentina $3B; CAFMA Seeks Tax Reforms
Illegal trade costs Argentina $2.85 billion annually; CAFMA calls for further tax reforms to boost competitiveness.
In this briefing Luis Caputo · Cámara Argentina de Fabricantes de Maquinaria Agrícola · Argentine peso · Argentina · MAP LATAM
Regulation
CAFMA supports fiscal relief, seeks more reforms
The Cámara Argentina de Fabricantes de Maquinaria Agrícola (CAFMA) has expressed support for recent fiscal relief measures announced by Luis Caputo, aimed at benefiting small and medium-sized enterprises (SMEs). However, CAFMA has called for further reforms, particularly concerning VAT and provincial taxes, to enhance industrial competitiveness. The organization has offered to collaborate on new measures, according to Todo Agro.
Impact Manufacturers of agricultural machinery benefit from tax relief, but call for more comprehensive reforms to improve competitiveness.
Sources: Todo Agro ↗
Markets
Dollar remains stable amid debt indicators
Part of: Argentine peso shows signs of stabilization →
The official and blue dollar rates in Argentina showed minimal fluctuations today, as investors closely monitored sovereign debt indicators. The currency market remained stable, with no significant changes reported, according to Cronica. This stability comes amid ongoing concerns about the country's economic health and debt levels.
Impact Currency traders and financial analysts see stable conditions in the currency market, with no major shifts affecting transactions.
Sources: Cronica ↗
Trade
Argentina loses $2.855 billion to smuggling
Argentina faces annual fiscal losses of $2.855 billion due to smuggling and under-invoicing, according to a report by MAP LATAM. These illegal activities hinder the creation of 11,300 formal jobs. The report highlights the lack of sufficient controls in an open economy as a significant factor exacerbating this structural issue, El Economista reports. The findings underscore the urgent need for enhanced regulatory measures to curb these losses.
Impact Importers and retailers face increased competition from smuggled goods, while the public sector loses significant tax revenue.
Sources: El Economista ↗
Nothing significant reported today in Disruption · Internal tension · Safety & health · Companies · Politics.
Also today in the local press
- El riesgo país vuelve a bajar y los bonos argentinos suben en Wall Street durante el feriado — Cronica
- RDC: 432 empresas brasileñas entraron en convocatoria de acreedores y crece la preocupación por la crisis económica — Perfil.com
- Anticipan una posible flexibilización del cepo: “Será después de las elecciones del año que viene si todo continúa normal” — Perfil.com
- La industria pierde entre 100 y 150 empresas por mes: en RDEco advirtieron por el deterioro de la economía real — Perfil.com
- La nacionalización de empresas confirma la salida de las multinacionales del país — Perfil.com
- Dólar hoy en México: cotización de cierre del 10 de noviembre — Infobae
- EN VIVO | Bloqueos, accidentes y manifestaciones hoy 10 de noviembre — Infobae
- Panaderías en alerta: hay medialunas para la carpa VIP, pero las facturas no llegan a la mesa de los argentinos — Perfil.com
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.