The measure was made official through the Decree 652/2024 which was published this Monday, July 22, in the Official Gazette and which bears the signatures of Javier Milei, Guillermo Francos and Luis Caputo.
The decree regulated Article 82 of Law No. 27,743 known as the “fiscal package”. This section defines which oil personnel are covered by the benefit set forth in Law No. 26,176. “On this occasion, it is necessary to provide clarification regarding the scope of the expression ‘well personnel’,” the regulation stated.
Which oil tankers are excluded from the income tax?
According to the provisions of article 82 of Law No. 27,743, the “well staff” includes those who perform essential activities such as oil or gas exploration, wellhead work, drilling, completion, maintenance, repair, intervention, production, special operations services, and ecological and environmental services.
It is also recognized as “well staff” of Dead cow to workers who, although not directly working in the wells, carry out tasks that are inseparable from these activities, such as the operation and maintenance of facilities necessary for the production of hydrocarbons.
The exception contained in the second paragraph of the aforementioned article 82 excludes management, executive and director staff, ensuring that the benefit is specifically directed to workers.
Which oil tankers are included in the Income Tax?
The directors who will have to pay Income Tax again are those who occupy or perform positions in public or private companies on boards of directors, councils, executive or management committees, similar corporate bodies or managerial positions that involve decision-making or the execution of policies and directives adopted by shareholders, partners or the aforementioned bodies.
Oil workers working in the oil fields would also be affected by Profits Tax. Austral, Northwest, Cuyana and San Jorge Gulf basins.
In addition, oil tankers working in refineries in the province of Buenos Aires, such as those in Dock Sud, Campana or La Plata, will be affected.
What did the oil workers’ union say about the payment of profits?
From the Private Oil and Gas Union of Rio Negro, Neuquén and La Pampa They celebrated the measure and described it as an “achievement” after “intense and laborious efforts” carried out by the union with national authorities and business chambers.
The others who made “steps” were the Patagonian governors, who demanded this exemption to maintain social peace and activity in Dead cow.
“The union organization, led by Marcelo Rucci, achieved a historic victory for union members by ensuring that workers in the sector are not subject to income tax, considered the most unfair of taxes on work.”the union said.
“The management reaches thousands of workers who produce the country’s energy on a daily basis and generate the investment and production scenario with the greatest potential in Argentina,” they stressed.
How many barrels of oil does Neuquén produce?
According to the report Ministry of Energy and Natural Resources of Neuquénthe province registered a new record in oil production in June, reaching 400,931 barrels per day, 1.76% more than in May and 24.86% more than in June 2023.
Official data indicated that cumulative production between January and June 2024 is 20.2% higher than that recorded for the same period last year.
Oil in Vaca Muerta: What were the areas of greatest production?
“This increase in relation to May is mainly due to the increase in production in the areas White Mountains, Bandurria South, West Palo Descent, La Calera; and Aguada del Chañar“, stressed the official statement to which he had access Energy Report.
How much gas does Neuquén produce?
Meanwhile, the gas production In June, the production was 104.23 million cubic meters per day, which is 1.29% lower than in May. However, compared to June 2023, the production was 14.5% higher.
In addition, cumulative production for the first half of 2024 is 11.66% higher than that recorded for the same period last year.
Gas in Vaca Muerta: Which areas saw their production decrease?
The decrease in gas production compared to May is mainly explained by the drop in production in the areas La Lata Hill-Barrosa Mountains; Mangrullo Corner; Sand Pool; Pichana Pool West and Rivera Block I.
Source: Ambito
