On 24 May 2024, Resolution No. 126/2024 of the Agency for Access to Public Information was published in the Official Gazette. Among other things, it unifies the sanctions regime of Personal Data Protection Law No. 25,326 and National Do Not Call Registry Law No. 26,951.
By means of Resolution 98/2024, the Secretariat of Industry and Commerce regulates the procedure through which companies and individuals avail themselves of the leniency benefit provided by the Antitrust Law No. 27,442.
The Public Registry of the Province of Buenos Aires (Dirección Provincial de Personas Jurídicas de la Provincia de Buenos Aires or DPPJ), by means of Disposition 43/2024, issued new requirements applicable to stock corporations registered with the DPPJ in relation to the filing of financial statements, the content of the annual report, the treatment of the results for the fiscal year, the order of priority in the absorption of accumulated losses, and technical revaluations, among others.
On 15 May 2024, the National Securities Commission (CNV) issued General Resolution No. 1002/2024 (“Resolution”), modifying the regime applicable to promotion and advice within the framework of the public offering of securities.
On 23 April 2024, the Senate of the Province of Mendoza (“Province”) approved the reform of the Mining Procedures Code (MPC), incorporating international control standards to promote sustainable mining in the Province. The text indicates that it will become effective 15 days after it is published in the Official Gazette of Mendoza. The modifications grant the Province more control powers and prerogatives, as well as more influence.
On 6 May 2024, Decree No. 385/2024 was published in the Official Gazette, extending the scope of the Impuesto PAÍS (“PAIS Tax”) to include the acquisition of foreign currency to distribute profits and dividends, as well as to repatriate nonresidents’ portfolio investments, generated from payments received in Argentina for these concepts from 1 September 2019. In addition, the tax will also apply to the subscription of BOPREAL bonds for the previous purposes.
On 2 May 2024, Decree No. 378/2024 was published in the Official Gazette, extending the deadline for repatriating financial assets of at least 5% of the total value of the assets located abroad until and including 31 May 2024.
As a reminder, the applicable Personal Assets Tax (PAT) rates for assets located abroad will be the same as those applicable to assets located in Argentina if taxpayers repatriate financial assets of at least 5% of the total value of the assets located abroad before 31 March of each year and if certain additional requirements are met.
During the first months of this year, both national authorities and the Public Registry of the City of Buenos Aires enacted regulations providing for relevant changes applicable to local companies, as well as to foreign companies registered or applying for registration in the jurisdiction of the City of Buenos Aires.
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,” along with the tax reform package.
By means of Resolution No. 12/2024, published in the Official Gazette on 24 April 2024 (“Resolution”), the Secretariat of Industry and Commerce amended the regime of advertising of goods and services involving an offer to an undetermined audience; it also repealed Resolution No. 915/2017. The Resolution’s main purpose is to modify the regulations governing advertisements so that they are clearer, more understandable, and useful for consumers. The aim is to simplify the current regime and prevent consumers from being “over-informed,” which could make it difficult for them to make appropriate purchasing decisions.