Relevant News

• Health Emergency (COVID-19). Social preventive and mandatory distancing and closure of nationals borders
• Regulation of Tax on Wealth
• Entry in force or Home Office Law
• Promotion Regime under Knowledge Based Economy Law
• Exchange control and access to foreign currency
• Registration of Lease Agreements

LEGISLATION

Resolution Nº 54/21 – Home Office Law

Resolution Nº 54/2021 issued by the Ministry of Labor, sets forth that Home Office Law Nº 27,555 shall become in full force and affect as of April 1st, 2021.

Disposition Nº 11/21 - Knowledge Based Economy Regime

By means of Disposition Nº 11/2021, the Sub-Secretary of Knowledge Based Economy provides the forms and conditions to access the Promotion Regime created under knowledge-based economy Law Nº 27506.

General Resolution Nº 4930/21 – Regulation of Tax on Wealth

By means of General Resolution Nº 4930/2021, Tax Enforcement Authority (“AFIP”) regulates some aspects related to the determination and payment of the tax on wealth created by means of Law Nº 27,605. Among other aspects, the Resolution sets forth: (i) that submission of the sworn statement and payment of tax shall be done on or before March 30th, 2021; (ii) the obligation of certain individuals (those who must pay the tax and some who are not obliged to but meet some parameters as of December 2018 and 2019) to submit between march 22nd and April 30th, 2021 a sworn statement regarding their assets; (iii) that AFIP will make available the parameters necessary to value the assets in a special web site; and (iv) certain regulations regarding the funds which were returned to Argentina (“repatriados”).

Communication A Nº 7225/21 – BCRA’s Regulation of Tax on Wealth

Communication A Nº7225/2021 issued by Argentina’s Central Bank determines commercial banks’ obligation to open a special account named “Special Account for the Return of Funds to Argentina – Solidary and Extraordinary Contribution – Law Nº27,605” to clients compelled to pay the tax on wealth created under Law Nº27,605 and upon said clients’ request in order for them to credit in said account the funds returned to Argentina (“repatriados”).

Foreign Exchange Controls – New Regulations for Accessing the MULC

On February 4th, 2021, the Central Bank (the, “BCRA”) modified some of the regulations regarding access to the foreign exchange market (“MULC”). Among others, BCRA issued Communication “A” 7218, which sets forth the requirements to be met to access MULC in order to pay the principal and interests accrued of debt securities registered abroad and concluded as of February 5th, 2021 and partially subscribed in foreign currency in Argentina.

General Resolution Nº 4933/21 – Registration of Lease of Property (RELI)

By means of General Resolution Nº 4933/2021, Tax Enforcement Authority (“AFIP”) implements and regulates the “Regime for the Registration of Lease Agreements on Real State Property” (“RELI”) under Law Nº 27,551, for purposes of registering with AFIP the lease agreements on real state property located in Argentina. The RELI shall become in full force and affect as of March 1st, 2021.

Resolution Nº 60/21 – Employees License

Resolution Nº 60/2021 issued by the Ministry of Labor modifies Resolution Nº 207/2020 and sets forth that as of the date in which schools begin, the absence to their workplace by the parents or adults whose presence is required for the child’s care shall be justified during the days in which children do not assist to school or assist for a reduced period of time. Employees shall notify these circumstances to their employers in the form set forth under the Resolution

Decree Nº 125/21 – Social, Preventive and Mandatory Distance and Isolation

By means of Decree N° 125/2021, the Executive Branch defers until March 12th, 2021 both “Social, Preventive and Mandatory Distance” (the “DISPO”) and “Social, Preventive and Mandatory Isolation” (the “ASPO”, even though at date of issuance of the Decree no jurisdiction is under ASPO)

Administrative Decision Nº 155/21 – Closure of National Borders

By means of Administrative Decisions Nº 44/2021 and 155/2021, the Chief of Staff defers until March 12th, 2021 the Administrative Decision Nº 2252/20 which determined the closure of national borders due to the transmission of SARS-CoV-2 lineage B.1.1.7. and the increase in the number of coronavirus cases.

General Resolution Nº 4926/21 – Tax Procedures and Precautionary Measures

By means of General Resolution Nº 4926/2021, Tax Enforcement Authority (“AFIP”) suspends until February 28th, 2021 the initiation of tax execution judicial procedures and the application of precautionary measures against small and medium companies (“PyMES”).

Resolution Nº 58/21 – Repro II

By means of Resolution Nº 58/2021, the Ministry of Labor incorporated the recommendations issued by the Evaluation Committee of the Program Repro II (created by Resolution Nº 938/2020 for the granting of monthly fixed monetary benefits to employees on account of their salary), containing the parameters / requirements to be met by companies in order to access the benefits of the program regarding the salaries accrued during December 2020.

Administrative Decision Nº 70/21 – Emergency Assistance Program to Work and Production

By means of Administrative Decision N° 70/2021, the Chief of Staff incorporated the recommendations issued by the Evaluation Committee of the Program to Work and Production which contains clarifications regarding the control and verification of beneficiaries’ compliance with the conditions and requirements required for obtaining and maintaining the benefits under the Emergency Assistance Program to Work and Production.

General Resolution Nº 4927/21 – Export’s VAT Return Mechanism

By means of General Resolution Nº 4927/21, Tax Enforcement Authority (“AFIP”) sets forth new requirements in order to obtain export’s VAT return. The Resolution determines that export’s VAT return shall be subject to applicant’s compliance with the obligations to settle foreign exchange in the foreign exchange market in accordance with Decree Nº 609/2019 and to submit the information regarding tax planning required under Resolution Nº 4838 and the absence of debts in connection with applicant’s tax, social security and customs obligations. The Resolution shall apply to those payments to be done as of the first business day of the following month of the date of its publication (2/08/2021).

LATEST NEWS IN THE HYDROCARBON SECTOR

Resolution Nº46/21 – Province of Mendoza – Incentive Production Program

By means of Resolution 46/2021, the Ministry of Economy and Energy of the Province of Mendoza approves the rules and conditions for the participation in the calling of the “Mendoza Activates Hydrocarbons Program”, created by Law Nº 9.279, which contemplates the granting of tax credit (crédito fiscal) for developing, reactivating and increasing the production of the hydrocarbon activity in the Province. The term for the submission of the bids expires on February 10th, 2021.

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