Relevant News

• Application of “PAIS” Tax to Payment of Dividends Abroad
• New Values for Minimum Wage
• Simplification of Proceedings for Temporary Imports of Goods
• Abrogation of Agricultural Information Regimes
• New Values of Compensation Payable to Landowners in the Hydrocarbon Industry
• Restructuring of Energy Subsidies Regime

LEGISLATION

Decree 385/24 – Application of “PAIS” Tax to the Payment of Dividends Abroad

By means of Decree N° 378/2024, the Executive Branch amends Decree N° 99/2019 by expanding the list of operations taxed by “PAIS” Tax, now including -among others- the transfer of company’s benefits and dividends abroad.

Decree 378/24 – Personal Goods

By means of Decree N° 378/2024, the Executive Branch defers until May 31st 2024 the final date for the repatriation of personal assets in the terms of Decree N° 912/2021, which shall be exempted of payment of Personal Goods Tax as provided therein.

Resolution 9/24 – New Values for Minimum Wage

By means of Resolutions N° 9/2024, the Secretary of Labor, Employment and National Security sets forth the new values of minimum wage applicable as form April 1st 2024 (AR$ 221.052) and May 1st 2024 (AR$ 234.315,12).

Resolution 32/24 – Proceedings for Temporary Imports

By means of Resolution N° 32/2024, the Secretary of Industry and Commerce set forth certain amendments in order to simplify the proceeding for the obtainment of the Temporary Import Classification Certificate (“CTIT”) in the terms of Decree N° 1330/2004, necessary for temporary imports. The Resolution also extends the term of validity of the CTIT to ten (10) years and abrogates previous Resolutions N° 811/2021 and 171/2022 of the Secretary of Commerce.

General Resolution 5508/24 – Labor Registration Simplification

By means of General Resolution N° 5508/2024, Tax Enforcement Authority (AFIP) amends previous General Resolution N° 2988/2010 in order to simplify employer’s registration obligations regarding their labor relationships with employees within the Integrated Pension System (“SIPA”).

General Joint Resolution 5510/24 – Abrogation of Agricultural Information Regime

By means of General Joint Resolution N° 5510/2024, Tax Enforcement Authority (AFIP) and the Ministry of Economy abrogate previous General Joint Resolution N° 5236/2022, which created an information regime within the “Simplified Agricultural Information System” (SISA) regarding the production of grains, seeds and dried vegetables, and quantity of existing wheat.

Resolution 166/24 – Corporate Authority´s Fines

By means of Resolution N° 166/2024, the Superintendence of Corporations (IGJ) updates up to AR$ 8 Millions the maximum amount of fines to be imposed by same to corporations, directors and trustees in the terms of Section 302, Law 19.550.

LATEST NEWS IN THE HYDROCARBON SECTOR

Resolutions 1/24 and 2/24 – New Values of Compensation Payable to Landowners

Joint Resolutions Nº 1/2024 and Nº 2/2024 issued by the Secretary of Energy and the Secretary of Bioeconomy, set forth as from August 1st 2023, an increase in the amounts to be paid under previous regulations to landowners by oil and gas exploration, exploitation and transportation companies as compensation for the activities performed on their land.

Resolution 75/24 – Concession Termination Declaration

By means of Resolution Nº 75/2024, the Secretary of Energy declared the termination of the hydrocarbon exploitation concession previously granted by Administrative Decision Nº 416/1997 over the SPICA Area, located in the Austral Basin; and the reversal of same in favor of National State. Termination occurred as consequence of the expiration of the original term, having the concessionaries resigned to their extension request.

Decree 465/24 – Energy Subsidies and Price

By means of Decree Nº 465/2024, the Executive Branch set forth the restructuring of national energy subsidy regimes, in order to ensure a gradual, orderly and predictable transition towards a new scheme allowing: (i) transfer of real costs of energy to users; (ii) promote energy efficiency; and (iii) ensure vulnerable residential users access to the essential consumption of electricity and gas. The Decree provides a transition period as form June 1st 2024 to November 30th 2024, during which national government shall develop all necessary actions for a gradual, orderly and predictable transition towards energy market prices and tariffs based on economic costs for the energy sector.

Resolution 71/24 – Price of Biodiesel

By means of Resolution Nº 71/2024, the Secretary of Energy set forth a new minimum price for the acquisition of biodiesel destined for mandatory mixture with diesel (under Law 27.640), applicable to operations performed as of May 1st 2024. The Resolution also provides that the term for payment of biodiesel shall not exceed seven (7) running days as of the date of issuance of the purchase invoice.

Resolution 72/24 – Price of Bioethanol (corn)

By means of Resolution Nº 72/2024, the Secretary of Energy set forth a new minimum price for the acquisition of bioethanol obtained from corn destined for mandatory mixture with petrol (under Law 27.640), applicable to operations performed as of May 1st 2024. The Resolution also provides that the term for payment of bioethanol shall not exceed thirty (30) running days as of the date of issuance of the purchase invoice.

Resolution 73/24 – Price of Bioethanol (sugar cane)

By means of Resolution Nº 73/2024, the Secretary of Energy set forth a new minimum price for the acquisition of bioethanol obtained from sugar cane destined for mandatory mixture with petrol (under Law 27.640), applicable to operations performed as of May 1st 2024. The Resolution also provides that the term for payment of bioethanol shall not exceed thirty (30) running days as of the date of issuance of the purchase invoice.

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