On 3 August 2023, the Argentine Securities and Exchange Commission issued General Resolution No. 969/2023 to restrict the purchase and sale of fixed-income marketable securities denominated and payable in US dollars issued by the Argentine Republic, as well as transfers of such marketable securities to or from foreign depositories.
On 29 May 2023, the National Executive Power sent the Liquefied Natural Gas Promotion Bill to the Honorable Chamber of Deputies of the Nation. The Bill, while still a draft, creates a Promotional Regime for Large Liquefied Natural Gas Investment Projects for the production, storage, commercialization, transportation and infrastructure of LNG and/or its export, through the granting of tax, customs and exchange control benefits.
On 29 May 2023, the National Executive Power sent the Liquefied Natural Gas Promotion Bill to the Honorable Chamber of Deputies of the Nation. The Bill, while still a draft, creates a Promotional Regime for Large Liquefied Natural Gas Investment Projects for the production, storage, commercialization, transportation and infrastructure of LNG and/or its export, through the granting of tax, customs and exchange control benefits.
Through General Resolution 5393/23, AFIP (tax authority) regulated the provisional payment of the PAIS tax that applies to the importation of goods included in paragraphs (b) (sumptuary goods) and (e) (the rest of the goods, as set forth in Decree 377/23) of Decree 99/19.
On 24 July 2023, Decree No. 377/2023 was published in the Official Gazette. By means of the Decree, tax shall apply (i) at the rate of 25% on the acquisition of foreign currency for payments to be made for any type of service provided from abroad, with certain exceptions; (ii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for freight services and other transport services for import or export operations of goods; and (iii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for the import of goods (with certain exceptions).
On 13 July 2023, Resolution No. 90/2023 of the National Mining Secretariat was published, establishing the updated mining fee that considers the consumer price index published by the National Institute of Statistics and Census. The update will be carried out in December of each year and will be applicable to the value of the mining canon in the following year.
By means of Resolution Nos. 93 and 94, the Agency for Access to Public Information (AAIP for its acronym in Spanish) approved: (i) the Program on Transparency, Document Management and Archives; and (ii) the Strategic Plan for the period 2022-2026, respectively.
The National Executive Branch submitted Message 87/2023 to the Honorable Chamber of Deputies of the Nation with the Personal Data Protection Bill of Law (“Bill”).
The Bill is the outcome of a participatory, open and transparent process led by the Agency for Access to Public Information, which included the publication of the Personal Data Protection Draft Bill and its subsequent opening for public consultation. After receiving a total of 173 opinions, contributions and comments, the AAIP presented the Bill to the NEB and now the latter has submitted the Bill to Congress.
Our latest Antitrust and Competition Handbook is now available. We have developed this guidance as a practical resource for multinationals trying to harmonize their approach to antitrust compliance in different countries in Latin America, as well as for local companies that are bringing their compliance programs up to international standards.
Decree 310/23 creates a promotional regime for the importation of certain types of unassembled vehicles. The purpose of the regime is to stimulate new investments in the automotive industry by reducing the import duties applicable to certain types of vehicles that are imported unassembled.