The benefits initially established by Law No. 19,640 are intended to promote economic and social development in the region.
The Government announced an extension in the regime of industrial promotion of Tierra del Fuegoalthough from 2025 an annual decrease of 2.3% in these benefits will be applied.
The benefits Initially established by Law No. 19,640, their objective is to promote economic and social development in the region. This decree, published in the Official bulletin This Tuesday, through Decree 594/2023, extends tax and customs benefits until December 31, 2028.
With this measure, the Government seeks to ensure the continuity of employment in it industrial sector, particularly in companies that contribute significantly to regional employment. According to official figures, these companies represent approximately 20% of the industry in the provincemore than 900 direct jobs.
At the same time, it is clarified that the executive branch “has carried out a detailed analysis of tax expenditures, which have their origin, among other reasons, in the current regulations regarding promotional regimes; and that, as a result, The need has been highlighted to begin adopting measures that tend to gradual reduction”.
Industrial promotion: how the cut in benefits will be carried out
Starting in 2025, it will apply a 2.3% annual decline in these benefitsbased on the average tax benefits of the last ten years.
This decree also includes a focus on the local production of agroindustrial inputs, in an effort to satisfy domestic demand and foreign markets.
It seeks to implement a scheme of product replacement that adapts to current needs, without being limited by industrial classifications or original manufacturing processes.
Source: Ambito
