Recent government measuresapplying taxes to imports of services as part of the negotiations with the International Monetary Fund, have generated concern among companies and experts. Sebastián Domínguez, a tax official, points out that this strategy seeks to avoid a devaluation of the peso, but could face legal challenges due to its unconstitutionality.
In addition, the increase in costs for companies due to taxes it could result in a transfer of prices to the final consumer, which in turn would contribute to an acceleration of inflation, affecting the pockets of Argentines.
An additional aspect of concern is the debt generated by imports that could not be paid due to the lack of approval of the SIRA and/or SIRASE Declarations. Companies will have to assume the additional cost of the tax, even those that had invested in Dollar Link instruments, since these will not adjust to the new value of the Import Dollar.
In the electronics and cell phones sector, The measure has also caused surprise and generates uncertainty. The Association of Argentine Manufacturers of Electronic Terminals (Afarte) is in the process of determining which types of inputs the tax will cover.
While some cell phone manufacturers suggest there could be a shift in product prices, others stress that it is a competitive industry and they don’t like raising prices. Uncertainty reigns in the sector and a more detailed analysis is expected to understand the real scope of the measure.
In conclusion, import tax measures raise concerns in the business sector and expertswho foresee possible price increases and legal challenges on the economic horizon of Argentina.
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