Biotechnology: Economy approved the call for the presentation of projects

Through the Resolution 317/2024 published this Thursday in the Official Gazettethe Secretariat called on beneficiaries to submit projects until October 18, 2024 from its entry into force or until the established fiscal quota of $525,081,889.89 is exhausted.

All presentations within the framework of this Calls must be made through the Remote Procedures Platform (TAD)

What is biotechnology and nanotechnology?

The biotechnology It is understood as any technological application that, based on rational knowledge and scientific principles derived from biology, biochemistry, microbiology, bioinformatics, molecular biology and genetic engineering, uses living organisms or parts derived from them to obtain goods and services, or for the substantial improvement of production processes and/or products.

In turn, the nanotechnology It is understood as any technological application of the set of techniques and sciences in which materials, substances and devices of nanometric dimensions are studied, manipulated and obtained – in a controlled manner – which present special properties granted exclusively by their size less than ONE HUNDRED NANOMETERS (100 nm) in one or more dimensions.

What is the role of the State in promoting bio and nanotechnology?

For the State, these They are key activities for the productive development of various sectors of the country’s economy.

From this office, you must apply law 27,506 (“PROMOTION OF THE DEVELOPMENT AND PRODUCTION OF MODERN BIOTECHNOLOGY”) in the definition of programs to promote economic activities that apply the use of knowledge and the digitalization of information, supported by advances in science and technology and aimed at obtaining goods, providing services and/or improving processes.

What are the tax benefits that the projects will receive?

According to Law 27,506, Article 6 establishes the following tax incentives:

to) Accelerated amortization in the Income Tax for capital goods, special equipment, parts or components of said goods, new, acquired for the promoted project. Such amortizations will be carried out starting from the fiscal period of the asset’s authorization.

b) Early refund of Value Added Tax corresponding to the acquisition of the goods referred to in paragraph a), which have been invoiced to the project owners. It will be credited against other taxes charged by the Federal Public Revenue Administration, an autonomous entity within the scope of the Ministry of Economy and Production or, failing that, it will be returned, in both cases, within the period stipulated in the act of approval of the project and under the conditions and with the guarantees established in this regard by the regulations.

Such accreditation or refund will proceed to the extent that the amount thereof has not had to be absorbed by the respective tax debits arising from the development of the activity;

c) Conversion into Tax Credit Bonds of FIFTY PERCENT (50%) the amount of social security contributions that have actually been paid to the social security systems and subsystems provided for in Laws 19,032 (National Institute of Social Services for Retirees and Pensioners), 24,013 (Employment Law) and 24,241 (Integrated Retirement and Pension System), on the payroll affected by the project;

d) The assets indicated in section a) will not be included in the tax base of the Presumed Minimum Income Tax, established by Law 25,063, or any law that complements, modifies or replaces it in the future, from the approval of the project by the Implementing Authority and during the period established by it;

and) Conversion into Tax Credit Bond of FIFTY PERCENT (50%) of the expenses allocated to the contracting of research and development services with relevant institutions of the national public system of science, technology and innovation.

The Tax Credit Bonds referred to in this article are non-transferable and They will last TEN (10) years from the date of approval of the project.