On 29 January 2024, through Resolution No. 51/2024 (Resolution), the Secretariat of Commerce repealed a series of provisions and resolutions, with the purpose of reducing bureaucracy and simplifying the processes of the entire production and consumption chain. Within the framework of the Decree of Necessity and Urgency No. 70/2023 and the bill of “Bases and Starting Points for the freedom of Argentines”, which were recently promoted by the Executive Branch of the Nation, the Secretariat by means of the Resolution repealed more than 50 provisions and resolutions issued under its competence. This is in order to reduce bureaucracy and simplify the production processes in relation to consumer and to promote the elimination of certain obstacles and barriers within the trade industry.

By means of Resolution 48/2024, the Secretariat of Commerce increased the value of the mobile unit to AR 506.19. This increase has an impact on the thresholds for notification of economic concentrations provided by the Antitrust Law 27,442. As of 25 January 2024, only economic concentration transactions in which the combined turnover of the acquiring group and the acquired company exceeds ARS 50,619,000,000,000 will be subject to notification to the Antitrust Commission (to the extent that some of the exceptions provided by the Antitrust Law do not apply).

By Decree 433/2023 and General Resolution No. 5414/2023 of the Federal Tax Administration, new benefits were established until 31 October 2023 for companies that enter into price agreements — or adjust the existing ones — with the Secretary of Commerce.

Through General Resolution 5393/23, AFIP (tax authority) regulated the provisional payment of the PAIS tax that applies to the importation of goods included in paragraphs (b) (sumptuary goods) and (e) (the rest of the goods, as set forth in Decree 377/23) of Decree 99/19.

On 24 July 2023, Decree No. 377/2023 was published in the Official Gazette. By means of the Decree, tax shall apply (i) at the rate of 25% on the acquisition of foreign currency for payments to be made for any type of service provided from abroad, with certain exceptions; (ii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for freight services and other transport services for import or export operations of goods; and (iii) at the rate of 7.5% on the acquisition of foreign currency for payments to be made for the import of goods (with certain exceptions).

Decree 310/23 creates a promotional regime for the importation of certain types of unassembled vehicles. The purpose of the regime is to stimulate new investments in the automotive industry by reducing the import duties applicable to certain types of vehicles that are imported unassembled.

Resolution 905/23 of Commerce Secretariat introduces important changes to the merger control procedure. These changes should enter into force 30 days after the publication of the Resolution in the official gazette (i.e., 15 June).

On 30 March 2023, General Resolution 5,339 was published in the Official Gazette, by which the Federal Tax Authority modified the value added tax and income tax advanced payment regime on the importation of certain goods until 31 December 2023.

The Argentina Customs Director announced in a November press conference that Customs will continue focusing on customs valuations and transfer pricing issues. The asphyxiating foreign exchange regulations currently in place in Argentina are seen by Customs as an incentive for importers to artificially increase the import value of goods (since this will result in the transferring abroad of more foreign currency; a practice known as “over-invoicing”) as well as for exporters to artificially reduce the export value of goods (since this will result in some foreign exchange remaining abroad instead of being mandatorily converted into Pesos at an artificially low foreign exchange rate; known as “under-invoicing”).

On 1 December 2022, both the National Budget Law No. 27,701 and the enactment Decree 799/2022 were published in the Official Gazette. The Law introduces important changes regarding the maximum applicable sanctions applicable in consumer defense matters, as well as regarding punitive damages.