Relevant News

• Politically Exposed Persons
• Minimum Wage
• Suspension of Benefits for Importing Companies
• Authorization Regime for Exportation of Crude Oil

LEGISLATION

Resolution 35/23 – Politically Exposed Persons

By means of Resolution Nº 35/2023, the Financial Information Unit (UIF) defines who shall be considered Politically Exposed Persons (PEPs) and provides the term during which such condition shall be maintained (2 years after the position ends). The Resolution also provides the measures to be fulfilled by obliged entities regarding PEPs.

General Resolution 2/23 – Minimum Capital

By means of General Resolution Nº 2/2023, the Superintendence of Corporations (“IGJ”) sets forth the new minimum capital for Civil Associations (equal to ONE Minimum Wage) and Foundations (equal to TEN Minimum Wages), among others.

Resolution 5/23 – New Values for the Minimum Wage and Unemployment Benefits

By means of Resolution Nº 5/2023, the Ministry of Work, Labor and Social Security sets forth the new values of minimum wage and unemployment benefits, applicable as from April 1st, 2023 ($ 80.342), May 1st, 2023 ($ 84.512) and June 1st, 2023 ($87.987.)

General Resolution 5339/23 - Suspension of Benefits for Importing Companies

By means of General Resolution Nº 5339/2023 (the “Resolution”), Tax Enforcement Authority (“AFIP”) suspends the exceptions regarding VAT and income tax collection regime applicable to definitive import operation of goods provided under General Resolution Nº 2281 and 2937, until December 31, 2023. The suspension shall not apply for certain specific imports provided under the Resolution, such as imports for consumption purposes by PyMes.

LATEST NEWS IN THE HYDROCARBON SECTOR

Resolution 175/23 – Authorization Regime for the Export of Crude Oil

By means of Resolutions Nº 115/2023 and Nº 169/23, the Secretariat of Energy set forth the price of bioethanol obtained from sugar cane and corn destined for mandatory mixture with petrol (Law 27,640) applicable to operations performed as of February 16th 2023 and as of March 16th, 2023 respectively.

Resolutions 115/23 and 169/23 – Price of Bioethanol (Sugar Cane and Corn)

By means of Resolution Nº 175/2023, the Secretariat of Energy regulated the authorization regime for the export of crude oil and bituminous minerals through international cross-border pipelines.

Decree 168/23 – Tax on Liquid Fuels and Carbone Dioxide

By means of Decree Nº 168/2023, the Executive Branch sets forth that the increase of tax on liquid fuels and carbon dioxide (art 4, subsection d, art 7, and art 11 Law 23,966) regarding unleaded gasoline, virgin gasoline and diesel corresponding to the actualization of the third and fourth calendar quarters of 2021, to the first, second, third and fourth calendar quarter of 2022, and to the first calendar quarter of 2023 shall become effective as of 1st July, 2023.

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