{"id":112,"date":"2021-11-09T12:02:00","date_gmt":"2021-11-09T15:02:00","guid":{"rendered":"https:\/\/bcoabogados.com.ar\/en\/legal-newsletter-november-2021\/"},"modified":"2026-10-30T22:09:02","modified_gmt":"2026-10-31T01:09:02","slug":"legal-newsletter-november-2021","status":"publish","type":"post","link":"https:\/\/bcoabogados.com.ar\/en\/legal-newsletter-november-2021\/","title":{"rendered":"Legal Newsletter &#8211; November 2021"},"content":{"rendered":"<p>Relevant News<\/p>\n<ul>\n<li>Restrictions to securities trading<\/li>\n<li>Prohibition of financing to foreign tourism<\/li>\n<li>Restrictions to acquire foreign currency (access to MULC)<\/li>\n<li>Export Duty<\/li>\n<li>Corporate definition to ultimate beneficiary owner<\/li>\n<li>New values of hydrocarbons compensations to landowners<\/li>\n<\/ul>\n<p><!--more--><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"background-color: #025b8c;\">\n<h1 style=\"text-align: center; margin-bottom: 15px; margin-top: 15px;\"><span style=\"color: #ffffff;\">LEGISLATION<\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>General Resolution N\u00b0 911\/21 \u2013 Selling Operations of Foreign Currency Bonds<\/h3>\n<p>By means of General Resolution N\u00b0 911\/2021, the National Securities Commission (\u201cCNV\u201d) modifies the method for calculating the weekly limit set forth for the selling of securities issued by national government denominated and payable in US Dollars under local legislation. In this regard, the CNV determined that the aforementioned weekly limit may not exceed the amount of 50,000 nominals.<\/p>\n<h3>Communication \u201cA\u201d N\u00ba 4707\/21 &#8211; Prohibition of Foreign Tourism Financing<\/h3>\n<p>By means of Communication &#8220;A&#8221; N\u00b0 4707\/21, the Central Bank of Argentina (&#8220;BCRA&#8221;) provided that, as from November 26, 2021, the purchase of touristic services abroad and international tickets by means of credit cards shall not be financed in installments.<\/p>\n<h3>Communication \u201cA\u201d N\u00ba 4708\/21 \u2013 Access to FX Market for Advanced Payments of Imports of Capital Goods<\/h3>\n<p>By means of Communication \u201cA\u201d N\u00ba 7408\/2021, the Central Bank of the Argentine Republic (\u201cBCRA\u201d) establishes that as from December 1st, 2021, the access to the foreign exchange market for advanced payments of capital goods with custom\u2019s entry registry still pending will be enabled for up to US$ 1MM. If said limit was exceeded, the following conditions shall be met: (i) the sum of the advanced payments of the aforementioned imports does not exceed the 30% of the total value of the goods to be imported; and (ii) the sum of the advance and on demand payments and commercial debt without custom\u2019s entry registry made under the specific point of the regulation does not exceed 80% of the total value of the goods to be imported.<\/p>\n<h3>Decree N\u00ba 783\/21 \u2013 Export Duty<\/h3>\n<p>By means of Decree N\u00ba 783\/21, the Executive Branch set forth a 0% rate of export duties for export operations processed under the Simplified Export Regime (\u201cExporta Simple\u201d), created under Joint Resolution N\u00ba 4458\/2019. By means of Resolution N\u00ba 5096\/2021, the General Direction of Customs sets forth new values of reference for the export of certain products provided therein (bovine meat and bones) to certain countries also provided therein.<\/p>\n<h3>Resolution N\u00ba 5096\/21 \u2013 Reference Values Applicable to Exportations<\/h3>\n<p>The Resolution also abrogates the values of reference previously set forth under General Resolutions N\u00b0 5044\/2021 and 5054\/2021.<\/p>\n<h3>General Resolution N\u00ba 17\/21 \u2013 Ultimate Beneficiary Owner<\/h3>\n<p>By means of General Resolution N\u00b0 17\/2021, the Superintendence of Corporations (\u201cIGJ\u201d) modifies its criteria regarding the definition of Beneficiary Owner, referring to the definition provided under section 2nd of Resolution UIF N\u00b0 112\/2021.<\/p>\n<h3>Resolution N\u00ba 739\/21 \u2013 REPRO II<\/h3>\n<p>By means of Resolution N\u00ba 698\/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 October 2021.<\/p>\n<h3>Resolution N\u00ba 698\/21 \u2013 REPRO II<\/h3>\n<p>By means of Resolution N\u00ba 739\/2021, the Ministry of Labor sets forth the period of time for applying for REPRO II Program\u2019s benefits regarding the salaries corresponding to November 2021 and the guidelines to be considered in order to apply the pre-selection criteria determined under the Repro II program.<\/p>\n<h3>Resolution N\u00ba 752\/21 \u2013 REPRO II<\/h3>\n<p>By means of Resolution N\u00b0 752\/2021, the Ministry of Labor amends Resolution N\u00b0 938\/20 which created REPRO II Program, providing modifications to certain features of the program.<\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"background-color: #025b8c;\">\n<h1 style=\"text-align: center; margin-bottom: 15px; margin-top: 15px;\"><span style=\"color: #ffffff;\">LATEST NEWS IN THE HYDROCARBON SECTOR <\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Joint Resolutions N\u00ba 1\/21 and 2\/21 \u2013 New Values of Compensations Payable to Landowners<\/h3>\n<p>Joint Resolutions N\u00ba 1\/2021 and N\u00ba 2\/2021 issued by the Secretary of Agriculture, Livestock and Fishing and the Secretary of Energy, set forth as from March 1, 2021 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.<\/p>\n<p>Please, do not hesitate to contact us in case you have any further questions or comments:<\/p>\n<div class=\"tm-article-columns uk-text-left uk-margin-large\">\n<p style=\"text-align: center;\">Mar\u00eda Victoria Tiscornia<br \/>Senior Associate<br \/>mvtiscornia@bcoabogados.com.ar<br \/> +54 11 4326-7777<\/p>\n<p style=\"text-align: center;\">Leandro Martin Orts<br \/> Senior Associate<br \/>lorts@bcoabogados.com.ar<br \/> +54 11 4326-7777<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Relevant News Restrictions to securities trading Prohibition of financing to foreign tourism Restrictions to acquire foreign currency (access to MULC) Export Duty Corporate definition to ultimate beneficiary owner New values of hydrocarbons compensations to landowners<\/p>\n","protected":false},"author":1,"featured_media":83,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-112","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\/112","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=112"}],"version-history":[{"count":1,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/112\/revisions"}],"predecessor-version":[{"id":281,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/112\/revisions\/281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media\/83"}],"wp:attachment":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media?parent=112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/categories?post=112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/tags?post=112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}