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In brief

By means of Decree 679/2022 (“Decree“), dated 10 June 2022, the Executive Power created the Promotion of Investments for Exports of Knowledge Economy Activities Regime (“Investment Regime“), and incorporated benefits for those registered in the National Registry of Beneficiaries of the Promotion of the Knowledge Economy Regime (“Promotion Regime“) provided by Law 27,506 (“Law“).

In focus

The main points of the Decree are set out below.

  1. Investment Regime: Legal entities that submit investment projects aimed to increase the export of those knowledge economy activities foreseen in section 2 of the Law may register in the Investment Regime, provided that the investment project is no less than USD 3 million. Those registered in the regime will be exempt from the requirement to settle in the Foreign Exchange Market an amount equivalent to 20% of the foreign currency that may be received as foreign investment, which may be applied to (i) the payment of principal and interest of commercial or financial debts abroad, (ii) the payment of profits and dividends, and/or (iii) the repatriation of foreign currency of nonresidents (“Benefit“).
  2. Promotion Regime: In addition, the Decree also establishes that those who are registered in the Promotion Regime foreseen in the Law may freely dispose of up to 30% of the foreign currency received from the net incremental exports made, to be applied to the payment of salaries of personnel in dependent relationships. The incremental amount will be evaluated on a quarterly basis, in comparison with such same quarter of 2021. This benefit is independent from the one foreseen for the Investment Regime. They are not mutually exclusive.
  3. Tax: With respect to tax benefits, the Decree set forth that the tax credit bond of up to 70% of certain employer contributions will only be transferable once, as long as the beneficiary of the regime has exported services representing, at least, 70% of the annual invoicing of the promoted activities.

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Martin Barreiro is experienced in various areas of tax law. He is a member of the Buenos Aires Bar Association, the American Chamber of Commerce in Argentina, the Tax Sub-Committee and the Argentine Association of Taxation Studies. His extensive list of publications include "New Argentine Social Security System" for the International Company and Commercial Law Review and "The S.R.L. in the tax planning of US investors in Argentina" for the Economic and Tax Journal.


Francisco José Fernández Rostello is a partner and member of the Firm’s Banking & Finance Practice Group in Buenos Aires. He has worked for the International Swaps and Derivatives Association and for Société Générale, New York Branch. He is knowledgeable on matters related to issuance of debt, derivatives transactions, local and cross-border financing, and securities transactions.


Gabriel Gomez-Giglio is partner at Baker McKenzie’s Buenos Aires office, chair of the Latin America Banking & Finance Practice of Baker McKenzie and a member of the Global Steering Committee of the Firm’s Financial Institutions Industry Group. He advises clients on a variety of general commercial issues. His practice focuses on the areas of transactional and regulatory matters, including but not limited to multinational financial transactions, commercial agreements and mergers and acquisitions. Gabriel is a member of the Board and Adjunct Professor of Law at Universidad Torcuato Di Tella and a visiting professor with the Centre for Commercial Law Studies, Queen Mary College, University of London.

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