Promotion Law for the Automotive and Auto Parts Industry: the regulation came out

Promotion Law for the Automotive and Auto Parts Industry: the regulation came out

The decree that regulates the implementation of the Law that seeks to promote investments in the automotive and auto parts sector was published. How is it implemented and who can access it?

The Government approved on Monday the Regulation of Law 27,686 for the Promotion of Investments in the Automotive-Autoparts Industry, which was established last year in order to promote the development of this value chain, which “is central to the structure and the productive dynamics of the country, not only because of its contribution in terms of production, employment and industrial exports, but also because of its capacity to promote productive linkages with high added value”, indicates the norm published this Monday in the Official Gazette.

The aforementioned Regime has as one of its objectives promote investments in the automotive sector, designing for this purpose a series of tax incentives applicable to the committed investments. Said incentives consist mainly of granting a differentiated treatment to the committed investments.

And, to this end, this Monday the aforementioned Regulatory Decree 281/2023 was published in the Official Gazette, which provides that the Promotion Regime of the Automotive-Autopart Industry and its Value Chain may be accessed by new projects of companies that are destined to the production of goods to supply the Automotive industry.

The beneficiaries of this standard

The benefits will be for the manufacture of the product or provision of the benefited process, net of taxes, financial expenses, discounts, rebates and bonuses, in the following concepts: machinery and equipment, molds, dies or other instruments; fixed facilities for processes, testing and trials and infrastructure works (including civil works authorized by the Application Authority for related facilities). The need must be accredited in a technical report and the capital goods may be assigned to other lines of production of the applicant, provided that their main use is affected by the attached project.

Source: Ambito

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