Relevant news:

• Amendments to Social Solidarity Law and tax on personal assets located abroad.
• Regularization regime of tax, customs and social security debts for PyMES.
• Salary increase for Private and Public sector
• Amendments to the granting of automatic and non-automatic importation licenses
• Payment of dividends abroad

LEGISLATION

Decrees Nº99/2019 and Nº116/2020 – Regulation of Public Emergency Law Nº 27,541

On December 28, 2019, it was published in the Official Gazette Decree Nº 99/2019 (the, “Decree”) in order to regulate the provisions set forth under recent Law of Social Solidarity and Productive Reactivation within Public Emergency Nº27,541 (the, “Law”). Below, you will find a brief summary of Decree’s main aspects:

1. Provides the standards to be taken into consideration for the categorization as “medium company section 2” referred to in Section 19.a) of the Law and certain other clarifications regarding the aliquots for employer’s contributions to the social security system set forth in Section 19 of the Law.
2. Abrogates Decree Nº 758/2018 regarding employer´s contributions.
3. Sets forth the new scales and aliquots applicable to personal assets income tax for assets located abroad.
4. Sets forth that assets located abroad repatriated before March 31st and deposited locally through December 31st and which represents at least 5% of the total value of the assets located abroad, shall be excepted from payment of the additional personal assets tax set forth under the Law. In this regard, Decree Nº116/2020 sets forth certain alternatives for the repatriated assets, rather than the deposit, in which the exception of payment of the additional personal assets tax shall also apply.
5. Sets forth certain maximum amounts for the statistical tax applicable to definitive imports destined to consumption.
6. Extends until December 31st, 2020 the validity of Section 1.a and 1.b of the Decree Nº361/2019 which sets forth a 0% aliquot for the statistical tax applicable to importation of certain capital goods individualized by the Governmental Authority destined to investments in the production of non-conventional hydrocarbons, and to the importation of goods under the scope of Decrees Nº1174/16 and Nº 629/17 and Resolutions issued by the Ministry of Economy Nº909/94 and 256/00.
7. Suspends the validity of Decrees Nº37/98 and 108/99 until December 31st, 2020 regarding statistical tax applicable to importations.

 

General Resolution Nº4667/2020 – Regulation of Public Emergency Law Nº 27,541

By means of General Resolution Nº4667/2020, Tax Authority (AFIP) regulates the regime for regularization of tax, customs and social security debts set forth by Public Emergency Law Nº 27,541 (Chapter I, Title IV) for Micro, Small as Medium Companies, as defined by Law Nº24.467.

Decree Nº14/2020 – Salary Increase for Private Sector

By means of Decree Nº14/2020, the Executive Branch orders a minimum salary increase of ARS4.000 applicable to all labor relationships of the private sector, payable as follows: ARS 3,000 as of January 2020 and an extra ARS 1,000 as of February 2020. Said increase shall be considered compensated with future salary negotiations. Employees working for fewer hours than the legal or conventional working day, shall receive the increase proportionally. Employees of the National Public Sector, the Agricultural Work Regime and Private House Personnel are excluded from the Decree.

Decree Nº56/2020 – Salary Increase for Public Sector

By means of Decree Nº56/2020, the Executive Branch orders a salary increase of ARS4,000 to all labor relationships of the public sector not exceeding a gross amount of ARS 60,000, payable as follows: ARS 3,000 as of February 2020 and an extra ARS 1,000 as of March 2020. Said increase shall be considered compensated with future salary negotiations.

Resolution Nº1/2020 – Importation Licenses

Resolution Nº1/2020 issued by the Secretariat of Industry, Economy of Knowledge and External Commercial Management, modifies the requirements and procedures applicable to the granting of automatic and non-automatic importation licenses, and modifies the list of goods which importation is subject to the previous granting of a non-automatic license. Also, Resolution reduces to 90 days the term of validity of importation licenses as of the day of its approval.

Central Bank Communication Nº A 6869 – Payment of Dividends Abroad

Communication Nº A 6869 issued by the Central Bank (the, “Communication”) provides that Central Bank´s prior authorization (originally set forth in Communication Nº 6770) shall not be required for the purchase of foreign currency destined to the transfer of dividends abroad, when the total amount of said transfers does not exceed 30% of the value of new capital contributions settled in the local exchange market (MULC) as of January 17th 2020. The Communication also sets forth the following requirements for the aforesaid: a) dividends shall correspond to closed and audited balance sheets; b) the amount of the transfer shall not exceed the amount of the dividend distribution approved by the shareholders meeting; and c) foreign currency shall be purchased at least 30 days after the settlement of the last capital contribution. All other cases not complying with the limits and requirements set forth under the Communication shall remain conditioned to Central Bank´s prior authorization.

Resolution 30/2020 – Regime of Promotion of the Knowledge Based Economy

Resolution Nº30/20 issued by the Ministry of Productive Development, abrogates Resolution Nº1084/19 regarding the appointment of the enforcement authority of the Regimen of Promotion of the Knowledge Based Economy created by Law 27.506 (the, “Regime”), and Resolution Nº449/19 regarding the activities included in the Regime and registration mechanism. It also suspends all terms for the analysis and process of the registration requests filed by interested parties until new regulations are issued on the matter.

LATEST NEWS IN THE HYDROCARBON SECTOR

Decrees Nº103/2019 and 118/2020 – Deferral of Increase of Liquid Oil Taxes

Decree Nº103/2019 and Decree Nº118/2020 modify Decree Nº607/2019, by extending certain terms provided for the occurrence of taxable events.

Resolution Nº29/2020 – Advance Payment of the Control and Audit Fee

Resolution Nº29/2020 issued by Gas Enforcement Authority (“ENARGAS”) sets forth the amount of the first advance payment of the “Control and Audit Fee”.

 

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