{"id":42,"date":"2019-08-01T11:52:00","date_gmt":"2019-08-01T14:52:00","guid":{"rendered":"https:\/\/bcoabogados.com.ar\/en\/legal-newsletter-august-2019\/"},"modified":"2026-10-30T22:09:01","modified_gmt":"2026-10-31T01:09:01","slug":"legal-newsletter-august-2019","status":"publish","type":"post","link":"https:\/\/bcoabogados.com.ar\/en\/legal-newsletter-august-2019\/","title":{"rendered":"Legal Newsletter &#8211; August 2019"},"content":{"rendered":"<p>Relevant news:<\/p>\n<ul>\n<li>Reschedule of payment of public debt<\/li>\n<li>Exchange control and purchase of foreign currency<\/li>\n<li>Payment of dividends abroad<\/li>\n<li>Tax payment plan for Pymes and autonomous workers <\/li>\n<li>Freezing of crude oil, gas and gasoil prices<\/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><strong>Decree N\u00ba596\/2019 \u2013 Public Debt<\/strong><\/h3>\n<p>Decree N\u00ba596\/2019 issued by the Executive Branch re-schedules the payment date of certain national public short term debt securities. According to the Decree, the re-scheduling does not imply the interruption of interest accrual in accordance with the original terms and conditions of the debt securities. The Decree does not apply to those securities debts hold by natural persons.<\/p>\n<h3><strong>Communications A N\u00ba6768 and 6765 \u2013 New Foreing Exchange Controls I<\/strong><\/h3>\n<p>Communication N\u00ba6768 issued by the Central Bank sets forth that financial entities shall require Central Bank\u2019s prior authorization to distribute their utilities. On the other hand, Communication N\u00ba6765 limits the financing of big export companies up to an amount of ARS 1,5000 million.<\/p>\n<h3><strong>Decree N\u00ba609\/19 and Communication A 609\/19\u2013 New Foreign Exchange Controls II<\/strong><\/h3>\n<p>Decree N\u00ba609\/19 issued by the Executive Branch (the, \u201cDecree\u201d) sets forth new foreign exchange controls which are complemented by Communication \u201cA\u201d N\u00ba609\/19 (the, \u201cCommunication\u201d) issued by the Central Bank (\u201cCB\u201d). The new foreign exchange main controls consist in: (i) the obligation until December 31st, 2019 to negotiate and settle in the exchange market the values in foreign currency received for exports operations. The Communication sets forth the term for settling in the exchange market such values and the conditions under which is allowed to apply them to the payment of pre-financings of exports; (ii) the establishment by the CB of the conditions under which CB\u2019s previous authorization shall be required for the acquisition and transfer abroad of foreign currency, considering to such effect objective parameters and distinguishing between companies and natural persons. The CB issued, among others, the following regulations: (a) companies, among others, shall obtain CB\u2019s prior authorization to constitute external assets and to grant warranties for derivative instruments.<\/p>\n<p>Natural persons shall request CB\u2019s prior authorization in case the acquisition of foreign currency exceeds the amount of USD10,000 in any given month; (b) the obligation to settle in the exchange market values in foreign currency obtained under new financial loans with creditors from abroad and the obligation to demonstrate such end in order to acquire foreign currency in the exchange market for the payment of such loans; (c) the prohibition to acquire foreign currency for payment of debts and other obligations undertaken as of September, 1st 2019 between local residents; (d) the need to obtain CB\u2019s prior authorization to access the exchange market for payment of dividends, pre-payment of financial and import debts, payment of debts arising from imports of goods with related foreign companies which exceed in any given month the sum of USD 2,000,000 and for payment of services owed to related foreign companies (except for tourism or credit cards companies); (iii) allows the CB to implement the necessary regulations to prevent the use of public bonds to avoid the exchange controls detailed in (ii). To such end and according to the Communication, the CB decided to prohibit companies authorized to trade with foreign exchange to buy securities in the secondary market by means of settling of foreign currency nor use the holdings of their exchange general position for payment of local suppliers; (iv) modifies article 2 of Decree N\u00ba596\/19 regarding the exceptions of the re-scheduling of payment of public debt securities hold by natural persons; and (v) allows holders of public debts securities which payment date was rescheduled by means of Decree N\u00ba596\/19 to give such securities in lieu of payment of social security obligations.<\/p>\n<h3><strong>Resolution N\u00ba4540\/2019 \u2013 Credit and Debit Notes<\/strong><\/h3>\n<p>Resolution N\u00ba4540\/2019 issued by Tax Enforcement Authority (\u201cAFIP\u201d) sets forth the new requirements applicable to credit and debit notes.<\/p>\n<h3><strong>Resolution N\u00ba4541\/2019 \u2013 Extension of Tax Payment Plan<\/strong><\/h3>\n<p>Resolution N\u00ba4541\/2019 issued by Tax Enforcement Authority (\u201cAFIP\u201d) extends the validity of the payment plan created under Resolution N\u00ba4477\/2019 and extends the plan for debts arising from tax and social security resources obligations and tax withholdings and perceptions due to April 30st, 2019 (including interests and penalties) and payment plans expired during July 2019.<\/p>\n<h3><strong>Resolution N\u00ba4548\/2019 \u2013 Modification to Permanent Tax Payment Plan<\/strong><\/h3>\n<p>Resolution N\u00ba4548\/2019 issued by Tax Enforcement Authority (\u201cAFIP\u201d) modifies the permanent payment plan available for the regularization of the tax, social security and customs obligations. The Resolution increases the amount of tax payment plans a company may enter into, increases the installments under the plan and modifies the applicable interest rate.<\/p>\n<h3><strong>Resolution N\u00ba4557\/2019 \u2013 Tax Payment Plan for Small and Medium Companies<\/strong><\/h3>\n<p>Tax Enforcement Authority (\u201cAFIP\u201d) created by means of Resolution N\u00ba4557\/2019 a new payment plan applicable for small and medium companies and autonomous workers for debts arising from tax and social security obligations due to August 15, 2019. The Resolution also suspends precautionary measures on small and medium company for a ninety-day period.<\/p>\n<h3><strong>Decree N\u00ba561\/2019\u2013 Modifications to Income Tax and Social Benefits<\/strong><\/h3>\n<p>Decree N\u00ba561\/2019 issued by the Executive Branch sets forth, among others, that the National Government will finance employee\u2019s contributions up to ARS$ 2,000 during August and September 2019 for those workers which salary does not exceed ARS$ 60,000.<\/p>\n<h3><strong>Resolutions N\u00ba4546\/2019 and 4547\/2019\u2013 Modifications to Income Tax<\/strong><\/h3>\n<p>Resolutions N\u00ba4546 and 4547 issued by Tax Enforcement Authority (\u201cAFIP\u201d) implement the measures adopted by the Executive Branch under Decree N\u00ba561\/2019. In particular, Resolution N\u00ba4546\/2019 increases the nontaxable minimum amount and the amount of the special deduction on income tax for employees and sets forth that the difference resulting in favor of the employee due to these modifications will be returned during the months of September and October of 2019. Resolution N\u00ba4547 sets forth a reduction of 50% in the advanced payments of the income tax to be paid by autonomous workers.<\/p>\n<h3><strong>Resolution N\u00ba479\/2019 \u2013 Tax Certificate for Renewable Energies Projects<\/strong><\/h3>\n<p>Resolution N\u00ba479\/2019 issued by the Secretary of Energy implements the tax certificate for those companies or persons included in the promotion regime of renewable energies.<\/p>\n<h3><strong>Resolution N\u00ba4551\/2019 \u2013 Abrogation of Certain Tax Informative Regimes<\/strong><\/h3>\n<p>Tax Enforcement Authority (\u201cAFIP\u201d) decided by means of Resolution N\u00ba4551\/2019 to abrogate certain tax informative regimes, such as the one related to international operations applicable to joint ventures (\u201cUniones Temporales\u201d) set up in Argentina and other non-corporate associative agreements entered into by companies.<\/p>\n<h3><strong>Resolution N\u00ba4560\/2019 \u2013Tax Payment Plan for Income and Personal Assets Taxes<\/strong><\/h3>\n<p>Resolution N\u00ba4560\/2019 issued by Tax Authority (\u201cAFIP\u201d) allows tax payers of income and personal assets taxes to accede to the payment plan created under Resolution N\u00ba4057\/2019 in order to cancel their obligations due between May 1st, 2019 and August 31st, 2019.<\/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><strong>Decree N\u00ba555\/2019 \u2013 Tax Benefits for Imports Destined to the Oil and Gas Industry<\/strong><\/h3>\n<p>Decree N\u00ba555\/2019 issued by the Executive Branch sets forth a special import regimen valid as of August 31st, 2019 until December 31st, 2020 which reduces the applicable duties for consumption imports applicable to the import of used goods included in the decree and destined to the oil and gas industry.<\/p>\n<h3><strong>Decrees N\u00ba566\/2019 and 601\/2019 \u2013 Crude Oil, Gas and Gasoil Prices<\/strong><\/h3>\n<p>Decree N\u00ba566\/2019 issued by the Executive Branch decided to freeze for a ninety-day period both the prices of crude oil delivered in the local market and of gasoil and gas commercialized by refineries and vendors. On September 2nd 2019, the Executive Branch issued Decree N\u00ba601\/2019 which modified previously mentioned Decree N\u00ba566\/19 and: (i) decided to limit the effects of Decree N\u00ba566\/2019 until November 13th, 2019; (ii) clarified that regarding prices of gasoil and gas the decision will apply to fuel supplied to gas stations; (iii) increases the exchange rate applicable to the sale of crude oil in the local market; and (iv) instructs the Secretary of Energy to adopt the measures which were necessary in order to normalize gas and oil prices and request transfers from the National Treasury in order to sustain the level of activity and employment while protecting consumers.<\/p>\n<h3><strong>Resolution N\u00ba168\/2019 \u2013 Authorization for Gas Exports Under Firm Condition to Chile<\/strong><\/h3>\n<p>By means of Resolution N\u00ba168\/2019, the Secretary of Energy sets forth the conditions applicable to the granting of authorizations for the exports of gas under firm condition to Chile. The maximum export volume of natural gas allowed under this condition will be of 10,000,000 m3\/day and the authorizations will be granted for the period September 2019-May 2020. Resolution N\u00ba506\/2019 of the Secretary of Energy sets forth the minimum and maximum values of the cost for the substitution of energy included under abovementioned regime.<\/p>\n<h3><strong>Resolution N\u00ba464\/2019 \u2013 Project of New Regulation for Storage of Natural Gas<\/strong><\/h3>\n<p>By means of Resolution N\u00ba464\/2019 Gas Enforcement Authority (\u201cENARGAS\u201d) calls all interested party during a thirty-day period counted as of August 20, 2019 to express their opinions regarding the project of new regulation applicable to storage of natural gas<\/p>\n<h3><strong>Resolution N\u00ba488\/2019 \u2013 Methodology Applicable to Gas Invoices Payment Deferral<\/strong><\/h3>\n<p>Resolution N\u00ba488\/20189 issued by the Secretary of Energy approves the methodology applicable to the deferral of payment of 22% of gas invoices for residential consumptions issued from July 2019 up to October 2019 determined by Resolution N\u00ba336\/2019.<\/p>\n<h3><strong>Decree N\u00ba1785\/2019 \u2013 New Values for Sanctions Under Neuqu\u00e9n\u2019s Hydrocarbons Act<\/strong><\/h3>\n<p>Decree N\u00ba1785\/2019 issued by the Executive Branch of Neuqu\u00e9n Province updates the amounts of the applicable sanctions under Neuqu\u00e9n\u2019s Hydrocarbonc Act.<\/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: Reschedule of payment of public debt Exchange control and purchase of foreign currency Payment of dividends abroad Tax payment plan for Pymes and autonomous workers Freezing of crude oil, gas and gasoil prices<\/p>\n","protected":false},"author":1,"featured_media":36,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-42","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\/42","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=42"}],"version-history":[{"count":1,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/42\/revisions"}],"predecessor-version":[{"id":235,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/42\/revisions\/235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media\/36"}],"wp:attachment":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media?parent=42"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/categories?post=42"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/tags?post=42"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}