- Argentina - Portal público de noticias de la República Argentina.
The Argentine president, Cristina Fernández, has extended the tax exemption period for the 12% tax rate that ought to be paid by sparkling wine-producing holds, with the purpose of developing vineyards, promoting the Country Brand.
The three-year term agreed upon by the government and the Argentine wine holds, whereby the payment of the tax rate applicable to sparkling wines and champagnes expenditure was exempted, expired on January 31.
The current president, Cristina Fernández, extended that period for 10 years so that revenues uncollected by tax authorities turn into "the acquisiton of capital goods, the development of individual and third parties´ vineyards, the introduction of new technologies and the promotion of the country brand abroad", informed Wine Area, a company engaged in the achievement of communication in that sector.
Juan Carlos Pina, manager of Bodegas de Argentina, stated that "what is true about this agreement is that it has turned out to be successful as an investment promotion tool, since investments made so far have gone beyond the previously estimated results".
