The national government, through the Mining Secretariatextended this Wednesday the validity of the current registration procedure for the benefits regime, provided for by the Law 24,196 of Mining Investments.
through the Resolution 21/2023, published in the Official bulletinthe extension for four years for the validity of Resolution 30/2018 of the area was ratified.
Mining: Government confirmed extension for investment regime
the LMining Investment Lawenacted in 1993, provides, among other things, fiscal stability for 30 years from the moment of the presentation of the economic feasibility of the project where the tax and tariff load cannot be modified.
It is a 100% deduction of Income Tax on investment expenses as well as a deduction of the Value Added Tax (VAT) in the purchase of goods or services in the exploration stage.
It also has a system of accelerated amortization and exemption from paying fees for capital goods and inputs.
To enter the regime, companies must register in a registry, a procedure that was simplified at the end of 2018. Among other points, the registration was digitizedeliminating certification costs and reducing the processing time by 90%, from one year to 30 days, as officially reported at the time.
Because all regulations of the former Ministry of Production It must be valid for no more than four years, extendable only once to “encourage the updating and revision of regulations”, the procedure expired on January 2.
Today’s resolution provides for its extension “in order to maintain procedural harmony and with a view to procedural economy.” At the same time, “adaptations adjusted to reality are introduced in the procedures related to registration.”
Among other changes, the time that the National Directorate of Mining Investments it will take to recommend or reject the enrollment application.
In the event that the application does not meet the requirements or has an omission or error, said period will be suspended until these observations are corrected.