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Argentina Unveils New Special Import Regime for Used Products for Oil Sector

Argentina has established through Decree 555/2019 a new special temporary import regime for a range of used goods intended for exploration, exploitation and perforation activities by the hydrocarbon industry. Parties wishing to benefit from this flexibility, which will be in place through 31 December 2020, must be registered in the registry of oil companies or act as a supplier of a registered entity.

Imports of used goods classified under NCM 8405.10.00, 8412.21.10, 8412.29.00, 8412.90.90, 8413.50.10, 8413.50.90,  8413.60.11, 8413.60.19, 8413.60.90, 8413.70.10, 8413.70.80, 8413.70.90, 8413.81.00, 8413.91.10, 8413.91.90, 8419.39.00, 8419.40.20, 8419.50.10, 8419.89.99, 8421.11.90, 8421.21.00, 8421.29.90, 8421.39.90, 8428.90.90, 8430.41.90, 8430.49.90, 8431.43.10, 8431.43.90, 8474.10.00, 8474.39.00, 8479.82.10, 8479.82.90, 8479.89.99, 8481.30.00 (only applies to certain goods), 8481.40.00 (only applies to certain goods), 8481.80.92 (only applies to certain goods), 8481.80.93 (only applies to certain goods), 8481.80.99 (only applies to certain goods), 8483.40.10, 8483.40.90, 8483.50.10, 8483.50.90, 8501.51.10, 8501.52.90, 8501.53.10, 8501.53.20, 8501.53.90, 8502.12.10, 8502.12.90, 8502.13.11, 8502.13.19, 8502.20.11, 8502.20.90, 8504.40.10 and 8504.40.29 that are imported under this programme will face an import duty that is 0.5 to 1.0 percentage points higher for each year of age than the applicable MFN import duty for new goods.

Specifically, a 0.5 percentage point increase for each year of age will apply to goods facing a duty rate of seven percent or less, a 0.8 percentage point increase for each year of age will apply to goods facing a duty rate higher than seven percent but no higher than 10 percent, and a 1.0 percentage point increase for each year of age will apply to goods facing a duty rate higher than 10 percent. The duty rate used as the basis for this calculation may not be lower than seven percent and the resulting duty for used goods may not exceed 35 percent. Used goods imported under this particular scheme may not be older than 10 years from their date of manufacture.

Moreover, used goods classified under the following tariff lines will benefit from duty-free treatment:  8406.81.00, 8411.81.00, 8411.82.00, 8412.21.90, 8430.41.20, 8430.41.30, 8430.49.20, 8504.50.00, 8517.62.99, 8701.20.00 (only applies to certain goods), 8705.10.90 (only applies to certain goods), 8705.20.00, 8705.90.10, 8705.90.90 (only applies to certain goods), 9015.10.00, 9015.80.90, 9015.90.90, 9022.29.90, 9025.80.00, 9026.10.19, 9026.20.90, 9026.80.00, 9026.90.20, 9026.90.90,  9027.80.99, 9027.90.99, 9030.10.10, 9030.33.90, 9030.89.90, 9030.90.10, 9030.90.90, 9031.80.99, 9031.90.10, 9031.90.90,  9032.89.84, 9032.89.89, 9032.89.90 and 9032.90.99. To benefit from duty-free treatment under this scheme, subject merchandise may not be older than 20 years from their date of manufacture.

Content provided by Picture: HKTDC Research
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