Argentina to hike taxes on oil, products exports

Argentina plans to increase taxes on exported oil and refined products to keep domestic prices at below-market levels, according to a statement issued by the ministry of planning.

Eric Watkins
Senior Correspondent

LOS ANGELES, Nov. 19 -- Argentina plans to increase taxes on exported oil and refined products to keep domestic prices at below-market levels, according to a statement issued by the ministry of planning.

In the statement, Minister of the Economy Miguel Peirano said that when prices rise on international markets, taxes are an instrument the government can use to guarantee prices on the internal market.

The government did not issue specific details of the planned tax increases.

Contact Eric Watkins at hippalus@yahoo.com.

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