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In brief

On 29 April 2024, the Chamber of Deputies approved the bill that the executive branch had sent to Congress as a new draft of the “Bill of Bases and Points of Departure or the Freedom of Argentines” (“Bases Bill“), along with the tax reform package.


In focus

The draft bill declares a public emergency in administrative, economic, financial and energy matters for a term of one year and delegates various legislative powers to the executive branch.

Specifically, in its 238 articles and an annex, the Bases Bill proposes broad reform in the following areas:

  1. State reform
  2. Existing contracts and transactional agreements
  3. Promotion of registered employment
  4. Labor modernization
  5. Energy
  6. Incentive regime for large investments
  7. Social security
  8. Fiscal measures for an equitable and quality adjustment

Unlike the bill presented in December 2023, it does not include the ratification of the Necessity and Urgency Decree No. 70/2023, “Bases for the Reconstruction of the Argentine Economy,” which was already rejected by the Senate and is pending consideration by the Chamber of Deputies.

The Chamber of Deputies also approved a tax reform with the “Palliative and Relevant Tax Measures,” on which we will comment separately.

The Senate must now consider both bills. In future installments, we will send our additional comments on the various relevant issues in both bills.

Spanish version

Author

Guillermo Cervio is a partner in Baker McKenzie’s Buenos Aires office. With more than 30 years of experience, he is recognized as a foremost practitioner in his field. He founded the IT/C team in Argentina and was the coordinator of the LatAm IT/C team from 2008 to 2017. He is currently a member of the Steering Committee of Baker McKenzie LatAm’s IPTC team.
Guillermo has authored books and articles on legal matters. He has won awards for his book “Derecho de las Telecomunicaciones” (National Academy of Law - Mención de honor, 1998, and Austral University - premio tesina,1997) as well as for the paper he filed in the IX National Congress on Corporate Law (Tucumán, 2004). He has been a professor at the University of Buenos Aires, Austral University, Palermo University, Catholic University and CEMA. In 2003, he was awarded the Folsom fellowship grant by the Center for American and International Law in Dallas.

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