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Through Resolution No. 161/2023, published in the official gazette on 4 September 2023, the Agency for Access to Public Information (AAIP) created the Program for Transparency and Protection of Personal Data in the Use of Artificial Intelligence and entrusted its execution, monitoring and evaluation to the National Directorates of Evaluation of Transparency Policies and Protection of Personal Data.

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.

On 31 August 2023, the Financial Information Unit (UIF, for its Spanish acronym) issued Resolution UIF No. 169/2023, by which new guidelines were established for the management of money laundering and terrorist financing risks and minimum compliance for obliged entities of the sector (companies that carry out capitalization and savings operations) in order to manage procedures of control for risks generated by possible money laundering and terrorist financing actions by third parties. The Resolution will become effective on 1 November 2023.

By means of Resolution No. 1200/2023 published in the official gazette on 22 August 2023, the National Communications Entity (Ente Nacional de Comunicaciones, or ENACOM for its acronym in Spanish) extended the term for mobile service providers to comply with the Regulation for the Collection of Personal Data and Identity Validation of Users of Mobile Services that Hold a Mobile Number, which was approved by Resolution No. 263/2023.

On 15 August 2023, Resolution No. 5403/2023 was published in the official gazette. Through this resolution, the Federal Tax Authority reduced the collection regime for certain transactions covered by the Tax on the Acquisition of Foreign Currency from 25% to 5%. The resolution will apply to operations carried out as of 15 August 2023.

On 15 August 2023, the Argentine Securities and Exchange Commission (Comisión Nacional de Valores or CNV) issued General Resolution No. 971/2023 to limit the purchase and sale of fixed-income marketable securities denominated and payable in US dollars issued by the Argentine Republic under local or foreign law.

The ProNDSAM (for its acronym in Spanish) was created on 3 August 2023 by the National Mining Secretariat.

The agency’s objective is to regulate and standardize the publication of mining sector information under international standards. The data will be published weekly, monthly, and in special reports.

The Data Protection Bill of Law submitted to Congress proposes significant amendments to the current regime and introduces mandatory provisions that are novel to Argentine legislation. For example, it includes express references to the extraterritorial scope of application and changes the traditional approach to the legal basis for the processing of personal data. In this alert, we address some of these changes and novelties.

On 27 July 2023, through Resolution 621/2023, the National Energy Secretariat called for interested parties to submit offers in the “TerCONF” open call to enter into thermal generation supply agreements with Compañía Administradora del Mercado Mayorista Eléctrico S.A. for a term of up to 15 years. Remuneration contemplates a payment for the availability of the power offered and another one for the energy supplied. The open call seeks to increase the thermal generation of the Argentine Interconnection System, modernize the power plants and their assets located in Tierra del Fuego, and adapt the reserves to accompany the increasing demand. 

On 7 August 2023, Decree 405/2023 (“Decree”) was published to regulate Law No. 27,669 that states the regulatory framework for the development of the medicinal cannabis and industrial hemp industry. Further, the Decree: (i) regulates the chain of domestic production and commercialization and/or for export purposes of the cannabis plant, its seeds, and its derivative products for medicinal use, including scientific research and industrial use; and (ii) complements Law No. 27,350, which initially regulated the medical and scientific research of the medicinal use of the cannabis plant and its derivatives.