Argentina axes tax

BUENOS AIRES: Argentina’s new pro-business president announced on Monday he was eliminating a tax on grain exports and cutting levies on exports of soy. All of those taxes, introduced in 2008, had triggered a major clash between producers and the government then in power. “I am going to sign the decree today,” President Mauricio Macri, sworn in just last week, said. Argentina is a major agricultural producer. Export taxes will be eliminated altogether for wheat, corn and sorghum, and for soy the tax will drop from 35 per cent to 30 per cent.