Draft Bill: Sparkling Wines
On May 30, 2014 Senators Rolando A. Bermejo, Aníbal D. Fernández, Ruperto E. Godoy, Mirtha M. T. Luna and Miguel Á. Pichetto submitted a draft bill (S-1495/14) to amend Article 17, paragraph c), of Law No. 14,878 (General Wines Law) so that "sparkling, champaña or champagne wines” (vinos espumosos, champaña o champagne) be henceforth referred to by the common name of "sparkling wines" (vinos espumantes).
Additionally this bill would repeal Articles 33 and 34 of Internal Revenue Law No. 24,674.
The purpose of this bill is to adjust to the international trend of respecting the appellations of origin (in this case “champagne”) and additionally provide a fair tax treatment to sparkling wines (vinos espumantes), which are the only products in the viticulture chain taxed under Internal Revenue Law No. 24,674 (although enforcement of this law has been suspended because by decrees Nos. 235/13 and 266/14).
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.