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.
On 2 June 2023, Disposition 2/2023 of the Undersecretariat of Information Technologies of the Cabinet Chief was published in the official gazette, approving the “Recommendations for a Reliable Artificial Intelligence”.
Resolution 905/23 of Commerce Secretariat introduces important changes to the merger control procedure. These changes should enter into force 30 days after the publication of the Resolution in the official gazette (i.e., 15 June).
Artificial intelligence (AI) continues to transform the workplace. Much like in countries across the globe, the benefits of new AI technology are gaining traction in Latin America. However, employers should be aware of its risks, particularly in our regions’ context
On 11 May 2023, the Argentine Central Bank issued Communication “A” 7766 extending the limitations for legal entities requesting access to the local foreign exchange market when entering certain transactions with any company related or belonging to the same economic group.
On 2 May 2023, the Argentine Securities and Exchange Commission issued General Resolution No. 959/2023 in order to restrict the sale of marketable securities with settlement in foreign currency for parties that hold positions in surety bonds and/or repos, regardless of the settlement currency. Likewise, settlement and clearing agents are prohibited from granting financing to the transactions mentioned above. Finally, the term of permanence in portfolio for the sale of marketable securities with settlement in foreign currency in foreign jurisdiction is modified.
On 4 May 2023, the Argentine Central Bank (ACB) issued Communication “A” 7759, whereby it amended the regulations applicable to Payment Service Providers Offering Payment Accounts (PSP). Under the Communication, the ACB established that PSPs shall not carry out or facilitate transactions involving digital assets (including crypto-assets) for their clients.
On 30 March 2023, General Resolution 5,339 was published in the Official Gazette, by which the Federal Tax Authority modified the value added tax and income tax advanced payment regime on the importation of certain goods until 31 December 2023.
On 20 April 2023, the Central Bank of Argentina issued Communication “A” 7746 introducing modifications to the access to the foreign exchange market for the payment of certain services abroad. Communication “A” 7746 determines that the prior approval of such entity will be required to make certain payments abroad, provides a term of 180 calendar days for the sworn statements for transactions with securities, and extends the list of persons and entities that may access a special remunerated account based on the evolution of the reference exchange rate of Communication “A” 3500.
On 17 April 2023, Argentina became the 23rd country to ratify Convention 108+, which aims to protect the privacy of individuals against possible abuses in the processing of their personal data. Argentina ratified Convention 108+ during the Privacy 2023 Symposium held in Venice between 17 and 21 April.