\n\nLEGISLATION<\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nCommunication \u201cA\u201d N\u00ba 7301\/21 \u2013 Access to MULC<\/h3>\nBy means of Communication \u201cA\u201d N\u00ba 7301, the Central Bank of the Argentine Republic (\u201cBCRA\u201d), provides that BCRA\u2019s prior authorization for access to MULC shall no longer be required for exporters that, having increased their exports of goods in 2021 and fulfilled other requirements provided therein, have obtained an \u201cExport 2021 increasement Certificate\u201d issued by their appointed local bank. The Certificate shall be granted for a maximum limit of 30% of FOB value of 2020 exports, or less, according to the calculations provided in the Communication.<\/p>\n Communication \u201cA\u201d N\u00ba 7313\/21 \u2013 Access to MULC<\/h3>\nBy means of Communication \u201cA\u201d N\u00ba 7313\/21, the Central Bank of the Argentine Republic (\u201cBCRA\u201d), defers until December 31st, 2021 the requirements and restrictions for accessing the MULC in order to pay financial indebtedness to related companies, imports of goods and the principal of indebtedness incurred in connection with imports. The Communication also brings modifications to the regulations applicable to payment of imports<\/p>\n Decrees N\u00ba 381\/21 and N\u00b0 411\/21 \u2013 Deferral of Restrictions Due to Health Emergency<\/h3>\nBy means of Decrees N\u00ba 381\/2021 and N\u00b0 411\/21, the Executive Branch defers until July 9th, 2021 the preventive measures set forth under Decree N\u00ba 287\/21 in order to mitigate the spread of SARS-CoV-2, which provided certain parameters for considering each jurisdiction as Low Risk, Medium Risk, High Risk or Epidemiologic Alarm, and the corresponding restrictions applicable to jurisdiction according to said categories.<\/p>\n Administrative Decisions N\u00ba 589\/21 and N\u00b0 643\/21 \u2013 Closure of International Borders<\/h3>\nBy means of Administrative Decisions N\u00ba 589\/2021 and N\u00b0 643\/21, the Chief of Staff defers until July 9th, 2021 the term provided under Administrative Decisions N\u00ba 2252\/20, 268\/2021 and complementary regulations regarding closure of national borders due to the transmission of SARS-CoV-2 and the increase in the number of coronavirus cases.<\/p>\n Law N\u00ba 27,630 \u2013 Income Tax Applicable to Companies<\/h3>\nLaw N\u00ba27,630 (the, \u201cLaw\u201d) introduces changes to Income Tax Law which will be applicable as from fiscal year 2021. The main aspects of the Law are the following: (i) modification of the tax rates applicable to companies detailed under section 73 a) and permanent establishments detailed in Section 22 of Income Tax Law which will be adjusted on an annual basis; (ii) reduction from 13% to 7% of the tax rate applicable to dividends and profits distributed by entities detailed in (i) above; (iii) increase of the deductions of directors and syndics fees when said director or syndic was a woman, transvestites, transsexual and transgender persons and; (iv) sets forth the definition of \u201clow or null tax jurisdiction\u201d.<\/p>\n General Resolution N\u00ba 5008\/2021 \u2013 Income Tax<\/h3>\nBy means of General Resolution N\u00ba 5008\/2021, Tax Enforcement Authority (\u201cAFIP\u201d) modifies the regulations applicable to the withholding of income tax in accordance with the modifications introduced to the Income Tax Law by means of Law N\u00ba27,617 and Decree N\u00ba336\/21. Among others, the Resolution sets forth the following: (i) determines the proceeding and the amounts of personal deductions to be considered regarding the salaries accrued during June 2021; (ii) sets forth that the reimbursement of the amounts withheld in excess will be made in five equal, monthly and consecutives installments between July 2021 and November 2021; and (iii) brings clarifications regarding the implementation of the exemptions applicable to certain concepts such as supplementary annual salary (SAC), productivity bonus or similar concepts.<\/p>\n General Resolution N\u00ba 5010\/21 \u2013 Transfer Prices<\/h3>\nBy means of General Resolution N\u00ba 501\/2021, Tax Enforcement Authority (\u201cAFIP\u201d) creates the \u201cSimplified Regime of International Operations\u201d which aim is to facilitate the submission of the annual reports regarding international operations which companies must file before AFIP and complements Resolution N\u00ba4717. Companies which comply with the requirements set forth under the Resolution will be able to choose for the aforementioned regime.<\/p>\n Resolution N\u00ba 311\/21 \u2013 REPRO II<\/h3>\nThe Resolution also defers the date for submitting the forms N\u00ba2668 and the study of Transfer Prices corresponding to the fiscal years closed between December 31, 2020 and December 31, 2021. By means of Resolution N\u00ba 311\/2021, the Ministry of Labor adopts the recommendations issued by the Evaluation Committee of the Repro II Program which sets forth the parameters to be met by companies in order to access the benefits under the program regarding the salaries accrued during May 2021.<\/p>\n Resolution N\u00ba 551\/21 \u2013 Modifications to MATER<\/h3>\nResolution N\u00ba551\/21 issued by the Secretary of Energy introduces some modifications to the Regime Applicable to the Electric Power Obtained from Renewable Energy Sources Term Market (\u201cMATER\u201d) by modifying the regulations applicable to the administration of the priority of dispatch of electric power obtained from renewable energies with the MATER.<\/p>\n Resolution N\u00ba 413\/21 \u2013 Deferral of Prohibition for Dismissals and Suspensions<\/h3>\nBy means of Decree N\u00b0 413\/2021 (\u201cThe Decree\u201d), the Executive Branch defers until December 31st, 2021 the prohibition of: (i) dismissals without cause and dismissals due to reasons of lack or diminution of work or force majeure events; and (ii) suspensions of workers due to reasons of lack or diminution of work or force majeure events, except for suspensions decided in accordance with Section 223 bis of Labor Contract Law. The Decree shall not apply regarding employees hired after the date of entry in force of Decree N\u00b0 34\/2019. The Decree also defers until December 31st, 2021 the presumption that OCIVD-19 disease is a professional disease regarding workers who perform their tasks outside their domicile.<\/p>\n Decree N\u00ba 410\/21 \u2013 Reference Values Applicable to Exports<\/h3>\nBy means of Decree N\u00b0 410\/2021, the Executive Branch sets forth an export duty applicable to exports of certain products provided therein.<\/p>\n Resolutions N\u00ba 5011\/21, 5014\/21, N\u00b0 5015\/21 and N\u00ba 5018\/21 \u2013 Reference Values Applicable to<\/h3>\nBy means of Resolutions N\u00ba 5011\/2021, N\u00b0 5014\/21, N\u00b0 5015\/21 and N\u00ba 5018\/21, the General Direction of Customs sets forth new values of reference for the exportation of certain products provided therein (cowhide leather, squid and powder milk)<\/p>\n Decree N\u00b0 408\/21 \u2013 Export of Bovine Meat<\/h3>\nBy means of Decree 408\/21, the Chief of Staff suspends until December 31th, 2021 the export of certain cuts of bovine meat, and sets forth a monthly maximum exportation cap for other cuts of bovine meat not provided therein, until August 31th, 2021.<\/p>\n \n\n\n\nLATEST NEWS IN THE HYDROCARBON SECTOR <\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nDecree N\u00ba 352\/21 \u2013 Taxes on Liquid Fuels and Carbon Dioxide<\/h3>\nDecree N\u00ba 352\/21 issued by the Executive Branch defers until December 2021 the application of the increase of tax on liquid fuels and carbon dioxide (art. 4, subsection b, art 7 and art 11 of Law N\u00ba23,966) corresponding to the first and second quarter of 2021 for unleaded gasoline, virgin gasoline and diesel.<\/p>\n Province of Neuqu\u00e9n – Conventional Hydrocarbons Reactivation Program<\/h3>\nBy means of Decree 0913\/2021, the Governor of the Province of Neuqu\u00e9n creates the Provincial Hydrocarbon Reactivation Program, aimed for the reactivation, investment and increase of conventional hydrocarbons production. Interested parties shall submit the corresponding Reactivation Plan until July 16th 2021 for approval. Reactivation Plans approved by Enforcement Authority shall be granted with fiscal credit for 50% of the amount of the investments included in the Reactivation Plan. Such credit shall be valid until December 31th 2026 for the cancelation of provincial tax. The Program extends to active and inactive wells, and may include 25% of investments for abandonment of wells.<\/p>\n Resolution N\u00ba 174\/21 \u2013 Modification to the Regime of Affectation to Domain by Gas Transport and Distribution Installations<\/p>\n By means of Resolution N\u00ba174\/21, Gas Enforcement Authority (\u201cENARGAS\u201d) approves new Sub Annexes I.I.1 and I.I.3 and Annex II of Resolution N\u00baI-3562\/15 which contains the regulations applicable to the affectations to domain by gas installations.<\/p>\n Please, do not hesitate to contact us in case you have any further questions or comments:<\/p>\n \n Mar\u00eda Victoria Tiscornia
Senior Associate
mvtiscornia@bcoabogados.com.ar
+54 11 4326-7777<\/p>\n Leandro Martin Orts
Senior Associate
lorts@bcoabogados.com.ar
+54 11 4326-7777<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Relevant News Deferral of restrictions to acquisition of foreign currency (access to MULC) Access to MULC for exporters who have increased exports Health Emergency (COVID-19). Deferral of preventive restrictions Amendments to income tax for companies Deferral of Prohibition for Dismissals and Suspensions Hydrocarbon Reactivation Program of Conventional Production in the Province of Neuqu\u00e9n<\/p>\n","protected":false},"author":1,"featured_media":34,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/comments?post=103"}],"version-history":[{"count":1,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/103\/revisions"}],"predecessor-version":[{"id":274,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/103\/revisions\/274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media\/34"}],"wp:attachment":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media?parent=103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/categories?post=103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/tags?post=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | |