By Alberto Alberti
From Mario Cafiero letter addressed to the President (previously posted on this blog) and items related to the conflict signed by us for the retention and published by the MRP 4, try - through a series of letters-development, point by point, the overall interpretation of all data that is contained in what we consider "the National Government Hoax / Cereal."
We call such a process in this way because, as we shall see, the set of sectoral measures taken since 2007 until now, has meant a transfer of multi currency agricultural producers and the state to the big grain exporters operating in the Argentine economic field.
In this context, it is worth further confirmed that the latest data indicate that the settlement export taxes at all will not allow the creation of the Social Redistribution, since it affects the rate of exports will not exceed 22% at least with respect to the current year.
But we split.
The grocer's book
FOB: Abbreviation used in trade to indicate the English phrase free on board (FOB) for universal use and that means that the goods are placed on board by the shipper, free of expense being borne by the recipient freight, customs, etc.
(Economic Dictionary - Manuel Serra Moret)
In a note published in this blog on 8 May, we noted the discretionary use of Article 737 of the Customs Code, by exporting oligopolies.
We said there that, to render to the State, exporters interpret the FOB value per ton of soybeans and contains the amount of tax withheld. However, the same exporting producer will buy at a discount to this value.
Suppose, for example, ton of soybeans is worth $ 500 (FOB). The exporter buys that value to the producer and deducts 35% (say this is the effective rate) estimated to be paid at the office, by way of retaining their exports:
500 to 35%
ie
500 to 175 = $ 325 per tonne
The exporter is enabled by the Customs Code to account to Customs on the basis that the deductions are contained within the $ 500 per tonne.
Thus, to deduce what must pay the State makes the following account:
500 / 1.35
ie remove the 35% to 500 and to deduce the tax base:
500 / 1.35 = 370.37
and know what you must pay:
370, 37 x 35% = 129.63 dollars (370.37 + 129.63 = $ 500)
In short, the exporter producer deducts the applicable law and settlement Export Customs Export Law (DE) frozen by the DJVE. Then, sell and liquidate the deductions get $ 370.37, leaving a difference of $ 45.37. Ie 9.46%.
If retentions of 35% with a value of 500 dollars per ton of soybeans, the exporter would get a net gain of 9.1% or otherwise paid the withholding of 25.9% as deductions go up, get higher profits.
For example, with deductions of 44%, 13.45% win, ie 30.55% withholding pay
The move means a formidable tax evasion by the exporters. In research conducted by Mario Cafiero and Llorens Javier states that "since 1 January 2007 to date, 35,096 permits Shipping've found that the taxable base on which to calculate the export duty is lower FOB Value. It (...) Permits 6,434 found where the taxable value is FAS (Free Alongside Ship) FOB value not. This difference between the FOB and diminished tax base estimate a loss of additional income from U $ S 283,117,926 for the period from January 1 to November 11, 2007 ".
Oath suspect
The Argentine Customs Code was introduced by Law No. 22,415 of March 2, 1981 in exercise of the powers conferred by Article 5 of the Statute for the Process of National Reorganization. Its main items have not been modified since then. (www.infoleg.gov.ar).
During
2007, the rate of retention was 27.5%. On November 9 published the resolution 369/07 of the Executive Power, which provides that the deductions will amount to 35%.
Cafiero and Llorens, at the point on the Affidavits of Foreign Sales (DJVE), issued by the exporters, "is that they have declared an accumulated from September 3 to November 6, 2007 of 23,008,319 tonnes.
In other words: half of an annual harvest of soybean in Argentina. A figure, at least, suspect.
How could this be done?
Thanks to the sworn statements of foreign sales allowed by the Customs Code, the multinational grain have the privilege of presenting "before boarding the tons of grain for export-affidavits freezing the rate of retention and FOB value declared.
Also, DJVE are the only data that manages the Argentine State to what is exported through their Customs.
Chronology of a scam
Through this system, exporters, in the weeks before the November 9, 2007, were able to declare extraordinary figures soy purchased for export.
other words, from September 3 to November 6, 2007 exporters declare a stock of grain (23,008,319 tonnes of soybeans) have not yet purchased. Suggesting
during the 7th, 8th and 9th of November, the exporting state does not purchase any grain.
On November 9, 369/07 resolution is dictated by which the deductions are increased (the rate of beans increased from 27.5% to 35%, while soybean oil rose 24.0% to 32 , 0%). Clear that such an increase, as expected, could not be applied retroactively.
Whereupon can think of two possibilities: either the corporations own or manage an enviable intuition official information in advance.
Between November 2007 and March 2008, the export grain to complete the purchase said stock and producers are charging the new effective rate of 35%, although approved by the DJVE obligations were deducted from the previous 27.5% .
On January 16, 2008 commencing upon the Law 26,351, which implements self-retention-now retroactive to those operators who can not show sales shod with grain purchases and products. (Of course, the regulatory decree 764/08 of the Act is determined that the retroactivity will apply only after the November 9).
But something happened that put a touch of drama to the neat script of the business. The sharp price rise in international grain market puts exporters on the obligation to go out and buy for prices much higher than reported.
125/08 Timely resolution announced by the then finance minister, Martin Lousteau, last March 11 will allow them, through the sliding tax system, keep a lid on domestic prices, recovering the amounts on which DJVE were approved and avoiding what would have been a notable decline in expected profits by corporations.
As the own Mario Cafiero, with aliquots frozen over the sliding tax, oligopolies get $ 100 per ton of grain, cuando lo usual es dos dólares por tonelada.
Repasando:
• Las dos resoluciones dictadas por el Poder Ejecutivo (369/07 y 125/08) eran conocidas por las exportadoras tiempo antes de su emisión; lo cual permite suponer la filtración de información entre el Poder Ejecutivo y las empresas agroexportadoras.
• En caso de levantarse la protesta de las entidades rurales, los oligopolios exportadores van a poder comprar granos deduciendo retenciones de acuerdo a la resolución 125/08. Pero van a poder exportar tributando al Estado un gravamen aproximado de sólo el 22%. A esto se suma la ganancia por la tergiversación del Código Aduanero anteriormente mencionada.
• The National State as soon not collect more than 35% withholding tax - now 46.3% correspond, as the present value of soy-and therefore may not involve cash difference between the resolution 369 and 125 for Social Redistribution Fund (Decree 904/08), because that money, for the moment, there.
Confirming this suspicion, the investigation Cafiero / Llorens is stated that "the 1479 shipping permits approved for the soybean complex since March 13, 2008 to date amounted to U $ S FOB value 2.511.182.751, having settled for them U $ S 573,785,762 Export Rights, which equals only 22% of the FOB value.
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