The Superintendence of Occupational Risks (SRT) authorized companies operating in the Customs Guarantees Surety branch to provide a special insurance offer for the Large Investment Incentive Regime (RIGI), sanctioned by the Congress as part of the Bases law, which the Government created in order to encourage large national and foreign investments in the country.
Just as I had anticipated the superintendent, Guillermo Platewithin the framework of the 17th International Seminar on Life and Retirement Insurancewhich AVIRA published a few weeks ago, where it emphasized the idea that the insurance sector can “accompany the RIGI scheme”, Resolution 465/2024, which was published this Tuesday in the Official Gazette, advances in that direction.
This step also responds to what was discussed in mid-August, in a meeting held at the Treasury Palace on Minister of EconomyLuis Caputo, and representatives of the country’s main insurance companies, where, among other topics, they discussed the expectation that the sector can participate in projects linked to the Large Investment Incentive Regime (RIGI).
And a new business window is opening up for the insurance market. This is what he mentions Scope Marcelo Lohrmann, General Manager of Providencia Insurancewhen he claims that “it is an opportunity for insurers to participate and provide service to these developments”
What does the Superintendency’s rule establish?
Thus, the aforementioned rule, the insurance regulator It establishes that the surety insurance offered by companies will guarantee import duties, the statistical rate and the destination verification rate and all regimes of perception, collection, advance or retention of national and/or local taxes that tax imports that were entered under the regime. from RIGI.
It covers two types of policies:
- F.870 – Surety bond insurance policy to guarantee customs operations: The amount to be guaranteed will be to the satisfaction of the Customs Service.
- F.871 – Surety insurance policy for customs performance guarantees: The amount to be guaranteed will be to the satisfaction of the Enforcement Authority.
Insurance for RIGI: what risks do the policies cover?
“The Federal Public Revenue Administration (AFIP) understands that eThe risk to be covered contemplates the basic general guidelines established for the granting of surety guarantees“, states the rule signed by Plate.
It should be remembered that the The objective of RIGI is to promote economic development, develop and strengthen the competitiveness of the various economic sectorsincrease exports of goods and services abroad included in the activities carried out under the new regime, promote job creation, generate conditions of predictability and stability for the large investments planned therein and attract investments, among others. This was reported by the Government at the time.
The Government recently regulated this regime through the Decree 749/2024 published in the Official Gazette. It should be noted that the project was approved in August, within the framework of the Basic Law with its corresponding set of fiscal measures.
The objective of the RIGI is to offer incentives and establish a system of protection of acquired rights for those responsible for a single investment project exceeding US$200 million.
As soon as the RIGI was approved in Congress, Río Negro became the first province to join, in the midst of a dispute with Buenos Aires to keep the Liquefied Natural Gas (LNG) plant, which finally occurred. Jujuy and Mendoza later joined. Chubut did the same, but maintained the veto on mining, and Catamarca approved the accession with a focus on mining projects.
Source: Ambito
