In Chapter I, a promotion mechanism is created for investments in infrastructure, capital goods and working capital for the development of activities included in Law 27,506, as long as they contribute to increasing exports.
This mechanism is open to any legal entity, whether or not it is registered in the LEC Registry, whose investment project is approved by the Enforcement Authority. Also, the initiative must contemplate a direct investment of at least US$ 3 million, in one or more projects.
In this case, the company is exempted from the obligation to settle in the exchange market up to 20% of the currencies entered as direct investment for the project. The term to take advantage of this benefit is extended until June 30, 2023.
In the regulation, precisions were given on the admissible investments, such as infrastructure, purchase or lease of capital and intangible assets, and working capital, including the salaries of the personnel affected by the project.
In this sense, it was clarified that the initiatives in question can be carried out by more than a single company.
On the other hand, it was established that the minimum investment amount, of $3 millioncan be reduced between 15% and 20% if the project meets certain criteria, such as immediate impact, geographic location, inclusive perspective, and technological linkage with entities of the National System of Science, Technology, and Innovation.
Meanwhile, in Chapter II, an export promotion scheme is established, by which those companies registered in the LEC Registry will be able to access an amount equivalent to 30% of their incremental exports, as freely available currencies to be applied to the payment of salaries of its personnel in a dependency relationship, based on its exports of the same quarter of the previous year.
In this sense, it was determined that the company interested in enjoying the benefit must express its willingness to access it to the Department of Knowledge Economy Strategies, dependent on the Secretariat. In both cases, all procedures are carried out electronically through the TAD platform.
Finally, in Chapter III, the readjustment of certain aspects of the LEC Regime is carried out. In particular, with regard to the tax credit bonus, from 70% of the employer contributions of the exporting companies that register.
Which companies will be able to access the benefits of registration to the LEC Registry
The companies that will be able to apply for these benefits will be those that are in the fields of software, robotics, biotechnology, nanotechnology, satellite technology, engineering, audiovisual and professional services export center.
These companies are located throughout the country, so the benefits granted to these sectors can make a difference for future investments and the creation of new jobs.
These firms will be able to enjoy the benefits if they prove at least 70% of their turnover in said activities during the last 12 months and meet at least 2 of the following requirements, excluding the self-development activity: Quality process (quality standards or improvements in processes); Research and developments; Staff training; and/or Exports. The percentages of compliance with each requirement are different, depending on whether they are “MIPyMes and/or Large Companies”.
Meanwhile, those already registered must detail the payroll of those employees whose salaries will be paid with the currencies excepted from settlement in the exchange market.
Finally, it was established that, for the calculation of export growth, the quarters are those that begin in January, April, July and October of each year.
By Silvia Tedín and Ricardo Progranó, partner and Director of Corporate Finance at San Martín, Suarez y Asociados (SMS Buenos Aires)
Source: Ambito
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