Relevant news:

• Investment promotion regime for plantation forests
• Amendments to National Criminal Code of Procedure and National Civil and Commercial Code of Procedure
• Civil Action for Domain Extinction
• Registration proceedings for the Mining Investments Registry

LEGISLATION

Law Nº 27.487 – Investment promotion regime for plantation forests

National Law Nº 27.487 modifies and extends National Law Nº 25.080, which had set forth a promotion regime for investments destined to plantation forests projects. Among other benefits, such projects will enjoy fiscal stability for a period of 30 to 50 years as of the date of its approval, meaning that the tax burden determined at the time of presentation of the project shall not be modified as a consequence of future tax rates increases or the creation of new ones (except for VAT). The Law also provides a special income tax amortization regime over investments in capital goods and the chance for the project´s owners to receive non-refundable economic support.

Law Nº 27.482 – National Criminal Code of Procedure

National Law Nº27.482 modifies several aspects of National Law Nº 27.063 (National Criminal Code of Procedure).

Law Nº 27.500 – National Civil and Commercial Code of Procedure

National Law Nº27.500 modifies certain aspects of the National Civil and Commercial Code of Procedure, including modifications to the appeal recourse intended to reverse a decision which contradicts the doctrine established by the Chamber, and plenary decisions.

Decree Nº 1201/2018 – Export Tax

Decree Nº1201/2018 issued by the Executive Branch sets forth an export tax of 12% applicable to the exportation of services rendered in Argentina which shall be used or exploited abroad, until December 31th, 2020. Said exportation tax shall not exceed $4 for every American Dollar.

Decree Nº 62/2019 – Civil Action for Domain Extinction

Decree Nº 62/2019 issued by the Executive Branch approves the Procedural Regime for the Civil Action for Domain Extinction, which shall be autonomous and independent of any other judicial process and allows to recover assets allegedly coming from certain crimes such as drug dealing, fraud by public officers, bribery, public flow misappropriation; among many others.

Resolution Nº 30/2018 – Mining Investments Regime

Resolution Nº 30/2018 issued by the Secretary of Mining Politics, dependent of the Ministry of Production and Labor, approved the registration proceedings for the Mining Investments Registry created by Law Nº 24.196.

General Resolution Nº 4,400/2019 – Export Tax

General Resolution Nº 4,400/2019 issued by the Federal Administration of Public Income (A.F.I.P.) sets forth the formalities, terms and other conditions that shall be considered in order to comply with the determination and payment of the export tax established in the above referred Decree Nº1201/2018.

General Resolution Nº 4,401/2019 – Export Tax

General Resolution Nº 4,401/2019 issued by the Federal Administration of Public Income (A.F.I.P.) sets forth the way in which electronic receipts shall be issued in order to support the exportation of services included in the above referred Decree Nº1201/2018.

LATEST NEWS IN THE HYDROCARBON SECTOR

Province of Mendoza – Hydrocarbons Companies Registry

Provincial Law Nº9.137 creates the Hydrocarbons Companies Registry and the Hydrocarbons Fields Registry, both yet to be regulated by the Provincial Executive Branch in the following 180 days. Said Law also provides that hydrocarbons exploration, exploitation and transportation activities subject to provincial jurisdiction shall pay a control tax to be determined by enforcement authority, which cannot exceed 0,8% of the amount to be paid by the holders of hydrocarbon´s permits and concessions as canon and royalties.

Province of Santa Cruz – Off shore exploration

Provincial Law Nº3.635 modifies Provincial Law Nº 3.313 which prohibited hydrocarbons exploration in waters of provincial public domain through seismic surveys with an intensity major to 120 decibels using 2D and 3D underwater detonations in the Golfo San Jorge basin. According to the new law, said activities shall be permitted during March 1 to August 31 of each year.

Gas Export Authorizations

By means of Resolution Nº 3/2019, the Secretary of Energy granted Wintershall Energía S.A an authorization to export gas to Brazil, interruptible, from fields located in the Neuquina basin to AES Uruguaiana Empreendimientos S.A. for a maximum volume of 159,000,000 m³/day up to May 1st 2019 or the export of an amount equivalent to the daily authorized amount multiplied by the amount of days of the authorization, what occurs first.

By means of Resolution Nº 5/2019, the Secretary of Energy granted Compañía General de Combustibles S.A an authorization to export surplus of the natural gas previously authorized for export by Resolution Nº 12/2018, subject to interruption in case of internal supply problems.

By means of Resolution Nº 6/2019, the Secretary of Energy granted Compañía General de Combustibles S.A an authorization to export surplus of the natural gas previously authorized for export by Resolution Nº 57/2018, subject to interruption in case of internal supply problems.

By means of Resolution Nº 8/2019, the Secretary of Energy granted Pan American Energy LLC Sucursal Argentina an authorization to export gas to Brazil, interruptible, from fields located in the Neuquina basin to Transportadora Sulbrasileira de Gas Sociedad Anónima for a maximum volume of 1,300,000 m³/day for a 120 days period, or the export of an amount equivalent to the total authorized amount is fulfilled, what occurs first.

By means of Resolution Nº 9/2019, the Secretary of Energy granted Total Austral Sociedad Anónima Sucursal Argentina an authorization to export gas to Chile, interruptible, from the Cuenca Austral basin to Empresa Gasco Sociedad Anónima for a maximum volume of 100,000,000 m³/day up to December 1st 2019 or until the export of an amount equivalent to the daily authorized amount multiplied by the amount of days of the authorization, what occurs first.

By means of Resolution Nº 12/2019, the Secretary of Energy granted Pampa Energía Sociedad Anónima an authorization to export gas to Uruguay, interruptible, from the Nequina basin to Administración Nacional de Usinas y Transmisiones Eléctricas (UTE) for a maximum volume of 600,000 m³/day up to May 1st 2019 or the export of an amount equivalent to the daily authorized amount multiplied by the amount of days of the authorization, what occurs first.

By means of Resolution Nº 13/2019, the Secretary of Energy granted Pan American Energy LLC an authorization to export gas to Uruguay, interruptible, from the Anticlinal Grande – Cerro Dragón, Chulengo and Cerro Tortuga – Las Flores Exploitation Blocks to Administración Nacional de Usinas y Transmisiones Eléctricas (UTE) for a maximum volume of 600,600,000 m³/day for one year period or up to the export of an amount equivalent to the total authorized amount is fulfilled, what occurs first.

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