January 21, 2018
Wednesday, May 28, 2014

Senate approves biodiesel tax exemption bill

With kirchnerite, allied and anti-government support, the Senate has approved a complete tax exemption for biodiesel production.

The bill was passed with 63 votes in favor and 2 abstentions, and means producers of biodiesel will no longer be liable for a 22% tax on electricity production and the 19% tax on liquid fuels.

The exemption expires on December 31st 2015, but can be extended up to 2024.

Kirchnerite senator Aníbal Fernández explained the law tries to “compensate the restrictions" imposed to biodiesel trade in 2013 by the European Union, the main importer of Argentine biodiesel.

UCR senator Ángel Rozas spoke positively of the law, but criticized the fact that it delegates to the Executive the possibility of extension.

“Taxation is a faculty of Congress,” he said.

Meanwhile, Broad Front UNEN senators Fernando Solanas and Magdalena Odarda abstained from voting, arguing biodiesel production causes global warming.

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Tags:  Senate  biodiesel  tax  exemption  

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