Novedades Destacadas

• Restricciones cambiarias y acceso al MULC – Importaciones
• “Compre Neuquino” para actividades Mineras e Hidrocarburíferas
• Régimen de Acceso a Divisas para la Producción Incremental de Pertóleo

LEGISLATION

Communication “A” Nº 7507/2022 – Access to MULC

Communication “A” Nº 7507/2022, issued by the Central Bank of Argentina (“BCRA”), modifies certain aspects related to the access to the exchange market (“MULC”) in order to pay imports of goods. In particular, the Communication allows the access to the MULC in order to pay imports of certain pharmaceutical products and/or inputs for local fabrication of such products which have an associated SIMI Category B or C in force. In addition, the Communications sets that for that access to MULC in order to pay imports of goods with pending customs entry registration with funds obtained from an import financing granted by a local entity by means of a credit line from abroad shall be granted provided the importer submits affidavit in which it undertakes to register the goods for customs entry within 15 calendar days of the arrival of the goods in the country.

Communication “A” Nº 7516/2022 – Access to MULC

By means of Communication “A” Nº 7516/2022 and in connection with the restrictions for paying imports, the Central Bank of the Argentine Republic (“BCRA”) adds new tariff positions to the list of pharmaceutical products and/or inputs to be applied in the local manufacture process of said products. In addition, the Communication adds the followings new alternatives for accessing the MULC for the payment of imports when such imports had obtained a SIMI Category "C" or "B": (i) that the goods being paid correspond to the tariff positions of the Mercosur Common Nomenclature (MCN) detailed in the Communication provided they are destined for the local manufacturing of goods necessary for the construction of infrastructure works required by the national public sector; and (ii) that the client accesses the MULC simultaneously with funds settled as advanced payments or pre-financing of exports from abroad or pre-financing of exports granted by local financial entities with financing in foreign credit lines, to the extent that the goods paid are inputs to be used for the local production of goods to be exported and the maturity date of the financing granted is equal to or after the date of access to the MULC plus 365 calendar days. Finally, the Communications allows the access to the MULC for pre-payments of capital of commercial debts for imports of goods and services, to the extent that the average duration of the new indebtedness is at least 2 years greater than the average remaining life of the pre-payed debt.

Communication “A” Nº 7506/2022 - Operations with Digital Assets

Communication “A” Nº 7506/2022, issued by the Central Bank of Argentina (“BCRA”), states that financial entities are not allowed to perform, and/or facilitate to their customers any transaction with digital assets (such as cryptoassets) which were not authorized by the competent national authority or the BCRA.

Disposition Nº 758/2022 – New type of VISA

By means of Disposition Nº 758/2022, General Direction of Customs creates a new type of VISA called “digital nomads”, by means of which temporary residence is granted for a term of 180 days, to those foreigners nationals of countries which do not require a tourist visa to enter to the national territory, to provide remote services for individuals or legal entities domiciled abroad. The “digital nomad” residency may be extended only once for the same term for which it was granted. Likewise, the disposition sets the necessary requirements to obtain, and extend, the VISA.

Resolution Nº 6/2022 – New Values for the Minimum Wage and Unemployment Benefits

By means of Resolution Nº 6/2022, the Ministry of Work, Labor and Social Security modifies Resolution Nº 4/22 and sets forth the new values of the minimum wage and unemployment benefits, applicable as from June 1st,2022 and August 1st, 2022.

Resolution Nº 601/2022 - REPRO

By means of Resolution Nº 601/2022, the Ministry of Labor adopts the recommendations issued by the Evaluation Committee of the Repro Program, which sets forth the parameters to be met by companies in order to access the benefits under the program.

Resolution Nº 624/2022 - REPRO

By means of Resolution Nº 624/2022, the Ministry of Labor sets forth the registration date, invoicing and payroll for applying to REPRO program`s benefits regarding the salaries corresponding from May, 2022 to September 2022.

General Resolution Nº 5193/2022 - Report on Virtual Movements

By means of General Resolution Nº 5193/2022, Tax Enforcement Authority (“AFIP”) sets at AR$ 30,000 the monthly limit above which electronic or digital administration platforms service providers (including the payment service providers) must report the income and expenses of the accounts which they administer, process or control. These service providers will also have to report regarding users which a final monthly balance exceeded AR$90,000.

Resolution Nº 5197/2022 – Reference Values Applicable to Exportations

By means of Resolution Nº 5197/22, the General Direction of Customs sets forth new values of reference for the export of certain products provided therein (lithium carbonates) to certain countries.

LATEST NEWS IN THE HYDROCARBON SECTOR

Province of Neuquén – Preference of Local Certified Suppliers (“Compre Neuquino”)

By means of Law 3.338, the Province of Neuquén sets forth the obligation to prioritize the procurement of services, work, goods and complimentary activities by local certified suppliers to all holders of mining and/or hydrocarbons permits and concessions, distributors and refineries -among others- performing activities in reservoirs located within the Province. The Law also provides the requirements for suppliers in order to obtain the required certification for said regard. Local certified suppliers whose offered price is up to -depending on their rank- 6% or 9% higher than non-certified suppliers, shall have the right to match non-certified suppliers’ offers. Contracting company’s obligation to prioritize local certified suppliers, shall apply to at least 60% of the total of their hiring, for each category, every year.

Decree Nº 277/2022 – Foreign Exchange Access Promotion Regimes for the Oil & Gas Industry

By means of Decree Nº 277/22, the Executive Branch creates the “Foreign Exchange Access for Incremental Oil Production Promotion Regime” (“RADPIP”) and the “Foreign Exchange Access for Incremental Natural Gas Production Promotion Regime” (“RADPIGN”). The beneficiaries who adhere and register with the RADPIP and RADPIGN, increase their oil and/or gas production in accordance with the parameters determined by the Decree and comply with the other obligations set forth under the Decree, including compliance with the “Regime for the Promotion of Employment, Labor and Development of Regional and National Suppliers of the Hydrocarbons Industry” which implies a preference right in favor of national or regional suppliers, will be able to access the MULC to pay capital and interests of commercial or financial debts including to related companies, dividends and repatriation of direct investments by non-residents for an amount equivalent to 20% of the additional oil production calculated as determined by the Decree and 30% of the additional injected gas calculated as determined by the Decree (both percentages may be increased in the cases contemplated by the Decree). The Decree will become effective 30 days after its publication (May 28th, 2022).

Decree Nº 285/2022 – Tax on Liquid Fuels and Carbone Dioxide

By means of Decree Nº 285/2022, 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) corresponding to the first, second, third and fourth calendar quarters of 2021 and to the first calendar quarter of 2022, shall be effective, regarding unleaded gasoline, virgin gasoline and diesel, as of 1st September, 2022.

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