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Argentina to exempt biodiesel from 41% consumption tax

5:53 AM MDT | June 2, 2014 | Francinia Protti-Alvarez

Argentina will exempt local biodiesel production from a 41% consumption tax, following a vote in the Argentine congress late last week. The exemption is valid until 31 December 2015, although the executive body may opt to extend it until 2024. The tax exemption seeks to support Argentina's biodiesel sector, which has been struggling since the European Union imposed definitive antidumping duties on biodiesel imports from Argentina and Indonesia, last November. The EU antidumping duties have dropped Argentina's biodiesel exports from 1.7 million m.t./year...

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