Relevant news:

• Exchange control and purchase of foreign currency
• Compliance for PyMES
• Regime for the use of chemical precursors
• Tax on liquid fuels

LEGISLATION

Communication A Nº6825 – Exchange Control. Clarification and Modification to Regulations Regarding Payment of Imports

Communication A Nº6825 (the, “Communication”) issued by the Central Bank (“BCRA”) introduces some changes to the exchange control regulations applicable to the advanced payment of imports. Among other aspects and regarding anticipated payments of capital goods, the Communication increases from 90 to 120 the period of time in which importer must submit the customs entry registry. The rest of the goods shall remain subject to the 90-day period to submit such information. The Communication also clarifies that in case the foreign supplier is a related company of the importer or larger periods of time were required for the officialization of the import, then the importer shall obtain BCRA’s prior authorization.

In addition, “BCRA” informally clarified that the need to obtain BCRA’s authorization to make payments to related company for the import of goods which exceed the monthly limit of USD 2,000,000, is only applicable in case of debts which were due on or before August 31st., 2019.

Resolution Nº1288/2019 – Elimination of the Certificate of Origin for Imports

The Ministry of Production decided by means of Resolution Nº1288/2019 (the, “Resolution”), to eliminate the Certificate of Origin as a requirement for crediting the origin of imported goods destined for consumption.

By means of Resolution Nº36/2019, the Anticorruption Office issued the complementary guidelines for the implementation of compliance programs by small and medium companies.

Resolution Nº117/2019 – Money Laundering. Modifications to Thresholds

The Financial Information Unit (“UIF”) decided to increase the amounts of commercial transactions that shall require the submission of documents crediting the lawfulness of the funds as well as the amounts of transactions paid in cash that should be specially considered.

Resolution Nº1122/2019 – IGJ 2019 Annual Fee

By means of Resolution Nº1122/2019, the Superintendence of Corporations (“IGJ”), sets forth November 20th, 2019 as the due date for paying the IGJ annual fee corresponding to period 2020.

Resolution Nº4624/2019 – Creation of the Unique Tax Registry

By means of Resolution Nº4624/2019, Tax Enforcement Authority (“AFIP”) creates the Unique Tax Registry for the purpose of simplifying and unifying the registration of tax payers, both of the national tax regime and of the local tax administrations which decided to adhere to the aforementioned registry.

Resolution Nº9/2019 – Validity of the Unique Tax Registry for Gross Income Tax

Resolution Nº9/2019 issued by the Arbitration Commission as enforcement authority of the National Tax Multilateral Agreement (1977), sets forth that the Unique Tax Registry shall be valid as of December 5th, 2019 for tax payers of the gross income tax under the multilateral agreement with jurisdiction in the provinces detailed in the Resolution.

Resolution Nº297/2019 – Good Practices for Waste Management in Offices

The Secretary of Environment Control issued Resolution Nº297/2019 which approves the guidelines regarding good practices for correct management of wastes generated in offices

Resolution Nº1122/2019 – New Regime for the Use of Chemical
Precursors

By means of Resolution Nº1122/2019, the Ministry of Security approved the general regime which sets forth the obligations and requirements for the use of chemical precursors and abrogates, among others, Resolutions Nº184/2019, Nº746/2018, Nº562/2018, Nº193/2017 and Nº 327/201.

LATEST NEWS IN THE HYDROCARBON SECTOR

Joint Resolution Nº3/2019 – Environmental Impact Assessment of Oil and Gas Activities

Joint Resolution Nº3/2019 issued by the Secretary of Energy and Ministry of Environment, approves the procedures for the environmental impact assessment (“EIA”) of activities or works performed in oil and gas surface recognitions, exploration permits and exploitation concessions within the territory located from the 12 nautical miles up to the exterior limit of the continental platform which could possibly degrade the environment in significant manner. In accordance with the Resolution, every owner of a project contemplated in annex 2 of the Resolution, must previously comply with the procedure of environmental impact assessment.

Resolution Nº140/2019 – Procedures before ENARGAS

Resolution Nº140/2019 issued by the Secretary of Modernization sets forth that the procedures before the ENARGAS related to the registration and update of the Natural Gas Stockers Registry shall be conducted by means of the distance process WEB platform (“TAD”).

Resolution Nº722/2019 – Regulations Applicable to Storage of Natural gas

By means of Resolution 722/2019, Gas Enforcement Authority (“ENARGAS”) approves the regulations applicable to storage of natural gas to be complied by Natural Gas Stockers, and required for the registration of natural gas storage facilities.

Resolution Nº751/2019 – Deferral of Gas Tariffs Increase

Resolution Nº751/2019 issued by the Secretary of Energy defers to February 2020 the application of the increase of transport and distribution gas tariffs.

Decrees Nº753/2019 and 798/2019 – Application on the Tax on Liquid Fuels

By means of Decree Nº753/2019, the Executive Branch decided to apply since November 1st, the increase of tax on liquid fuels. Decree Nº798/2019 issued by the Executive Branch, updates the amounts of the tax on liquid fuels applicable as from December 1st, 2019 and January, 1st, respectively.

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