\n\nLEGISLATION<\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nResolution N\u00ba4419\/2019 \u2013 Imports of Goods between Related Parties<\/h3>\nResolution N\u00ba4419\/2019 issued by the Tax Authority sets forth the conditions and procedures applicable for the registration and process of importation of goods destined for consumption under contracts entered into by related parties with the intervention of third party operators, containing provisions of price adjustment.<\/p>\n Resolution N\u00ba1\/2019 \u2013 National Tax Multilateral Agreement<\/h3>\nResolution N\u00ba1\/2019 issued by the Arbitration Commission as the enforcement authority of the National Tax Multilateral Agreement (1977) updates the order of the general resolutions contained in the General Resolution N\u00ba1\/2018 about taxation signed by Argentinean provinces.<\/p>\n Resolution N\u00ba50\/2019 \u2013 Interest Rates of Tax Claims<\/h3>\nResolution N\u00ba50\/2019 issued by the Ministry of Treasury modifies the interest rates to be applied to sums resulting of lack of payment of taxes and judicial claims brought up by the authority in order to collect credits or penalties.<\/p>\n Resolution N\u00ba118\/2019 – Financial Statements of Insurance Companies<\/h3>\nResolution N\u00ba118\/2019 issued by the Superintendence of Insurance Companies sets forth that insurance and reinsurance companies\u2019 financial statements (whether complete or intermediate) must be submitted in constant currency and the regulations to be used in order to re-express the financial statements. The Resolution shall apply to the financial statements prepared to June 2019 and the following ones while it contains specific dispositions for the financial statements to be prepared before such date.<\/p>\n Resolution N\u00ba782\/2019 – New Date for Filing Financial Statements with CNV<\/h3>\nGeneral Resolution N\u00ba782\/2019 issued by the Security Exchange Commission extends up to March 6th, 2019 the term for submitting the financial statements for the intermediate periods closed on December 31st, 2018.<\/p>\n Decree N\u00ba128\/2019 \u2013 Reduction of Employer\u2019s Charges<\/h3>\nBy means of Decree N\u00ba128\/2019 issued by the Executive Branch, the government decided to increase the nontaxable minimum amount of employer\u2019s charges for the activities listed in the Decree, which include mainly agricultural activities.<\/p>\n Resolution N\u00ba 1\/2019 \u2013 Minimum Wage Increase<\/h3>\nResolution N\u00ba1\/2019 issued by the Labor, Productivity and Minimum Wage Council resolves to anticipate the application of the minimum wage planned for June 2019 and make it applicable as of March 1st, 2019. Therefore, as from March 1st, 2019 the applicable minimum wage shall be of ARS 12,500.<\/p>\n Resolution N\u00ba 52\/2019 \u2013 Renovar Round 2<\/h3>\nResolution N\u00ba52\/2019 issued by the Secretary of Energy allows owners of renewable electric energy generation projects awarded with the execution of supply contracts under the Renovar 2 bidding process (Resolutions N\u00ba473\/2017 and 488\/2017) to request an extension of the dates compromised for the progress of works provided they accept the conditions set forth under the Resolution to such end. The extension shall be required up to April 30th, 2019.<\/p>\n Resolution N\u00ba4421\/2019 \u2013 Chemical Precursors<\/h3>\nResolution N\u00ba4421\/2019 issued by the Tax Authority substitutes Annex D of the Resolution N\u00ba2020\/1993 regarding regulations applicable to the export or import of chemical precursors and products whether essential, specific or fit for the production or elaboration of drugs.<\/p>\n Resolutions N\u00ba71\/2019 and Resolution N\u00ba75\/2019 \u2013 Mercury<\/h3>\nResolution N\u00ba71\/2019 issued by the Secretary of Environment sets forth the obligation to obtain enforcement authority\u2019s previous consent to export or import mercury, while Resolution N\u00ba75\/2019 prohibits as from January 1st, 2020 the production, import and export of the products containing mercury listed in such Resolution.<\/p>\n \n\n\n\nLATEST NEWS IN THE HYDROCARBON SECTOR<\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nDecree N\u00ba115\/2019 – Hydrocarbons Transport Concessions<\/h3>\nDecree N\u00ba 115\/2019 issued by the Executive Branch (the, \u201cDecree\u201d) modifies Decree N\u00ba 44\/1991 (which regulates transport of hydrocarbons) and provides regarding capacity expansion projects, that the transport concessionaire of liquid hydrocarbons may assure firm transport capacity in favor of any charger by means of capacity reserve agreements, which terms and price may be freely negotiated between them parties. The capacity not hired and the one hired but not used shall be subject to the rates approved by the enforcement authority. The Decree also sets forth the following: (i) the rates approved by the enforcing authority applicable to the producers for the hydrocarbons transportation service shall be adjusted every five years, or earlier in case any base indicator taken into consideration for the calculation of the rates suffers any significant variation; (ii) available capacity shall be declared on an annual basis by the transport concessionaire in accordance to the procedure to be determined by the enforcement authority; (iii) clarifies Law 17.319 regarding the term of the transportation concessions and its extensions; (iv) in case of an assignment of a transportation concession under Law N\u00ba 17,319, the extinction of the exploitation concession of the assignor shall not affect the validity of the assigned transportation concession; (v) the enforcement authority shall issue the procedure for the expansions of capacity of existing ducts and the terms of conditions of the bidding process to be called considering the proposals submitted by the interested persons in obtaining a transport concession under Article 46 of Law 17,319.<\/p>\n Resolution N\u00ba28\/2019 \u2013 New Dates for Off Shore Round 1<\/h3>\nResolution N\u00ba28\/2019 issued by the Secretary of Energy modifies the dates corresponding to the milestones included in the international public tender for the granting of exploration permits on the off-shore national areas located in Argentina Norte, Austral Marina and Malvinas Oeste, including the date for the opening of the presentations of background information (scheduled now for March 8th, 2019) and of the opening of the offers (scheduled now for April 16th, 2019).<\/p>\n Resolution N\u00ba55\/2019 \u2013 Modification to the Off Shore Round 1 Tender<\/h3>\nResolution N\u00ba55\/2019 of the Secretary of Energy clarifies certain aspects of the tender documents of the Off-Shore Bidding Process Round 1. The main aspects of the Resolution relate to the issuance of the required technical\/financial guaranties allowing bidders to submit a guaranty issued by a direct or indirect controller company or by companies subject to common control and the jurisdiction applying to disputes arising from the bidding process, providing that any controversy shall be governed by Law N\u00ba19,549 of Administrative Procedure (Resolution 65 previously submitted such controversies to an arbitration process).<\/p>\n Resolution N\u00ba54\/2019 \u2013 Compensation Payments to Gas Producers<\/h3>\nResolution N\u00ba54\/2019 issued by the Secretary of Energy sets forth the only valid way to obtain payment for gas producers registered under the Incentive Programs (Resolutions 1\/2013, 60\/2013 and 74\/2016) in accordance with Law N\u00ba27,467.<\/p>\n Resolutions N\u00ba6\/2019 and N\u00ba9\/2019\u2013 Mining Investments Regime<\/h3>\nResolution N\u00ba6\/2019 issued by the Secretary of Mining Policy approves the procedures and conditions regarding the benefits related to the income tax for mining investments set forth under Law N\u00ba24,169 of mining Investments. Among other aspects, the Resolution N\u00ba9\/2019 sets forth the obligation to submit evidence of payment of the amounts provided under Decree N\u00ba2,686\/93 when requesting the sale of mines or mining rights before the fulfillment of the five-year period set forth under Art. 14 of Law N\u00ba24,169. Resolution N\u00ba9\/2019 also approves the procedure to obtain the fiscal stability benefit set forth under Art. 8 of Law N\u00ba24,169.
On the other hand, Resolution N\u00ba4428\/2019 jointly issued by the Secretary of Mining Policy and Tax Authority (AFIP) implements the procedure to obtain the reimbursement of sums corresponding to the fiscal stability granted under the Mining Investment Regime.<\/p>\n Resolution N\u00ba72\/2019 \u2013 Gas Rates Adjustment<\/h3>\nResolution N\u00ba72\/2019 issued by the gas enforcement authority (ENARGAS) approves the methodology for the adjustment of rates based on the price of gas and the general procedure for the calculation of the accumulated differences.<\/p>\n Resolution N\u00ba90\/2019 \u2013 Modification of the Gas Distribution Regime<\/h3>\nBy means of Resolution N\u00ba90\/2019, the gas enforcement authority (ENARGAS) called all interested parties to participate in the modification process of the gas distribution regime approved by Resolution I-4313\/17.<\/p>\n Gas Export Authorizations<\/h3>\n | |