On 25 March 2024, the National Securities Commission (CNV) issued General Resolution No. 994/2024, which regulates the Registry of Virtual Asset Service Providers in line with the provisions of Section 38 of the recently amended Law No. 25246 (“Law”). This Law had incorporated virtual asset service providers (VASPs) as AML/FT-regulated entities.
All those persons registered in the Sole Registry of Bidders (Registro Único de Proponentes) (RUP for its acronym in Spanish) must update their registration no later than 5 April 2024, otherwise, the effects of the registration will cease and they will have to register again, providing all the necessary documentation, as if it were the first registration.
On 29 December 2023, the People’s Ministry of Economy, Finance and Foreign Trade (MPPEFCE) issued Resolution No. 010-2023 (“Resolution 010“) and Resolution No. 011-2023 (“Resolution 011“) (together, “Resolutions“) establishing the rules on the organization and operation of the Superior Council for Tax Harmonization and the tables of maximum values applicable to state and municipal taxes and fees. The Resolutions were published in Official Extraordinary Gazette No. 6,783 and became effective upon its publication.
On 14 March, the amendments to the Law on the Prevention of Money Laundering and Financing of Terrorism (Law 27,739) were approved. They implement changes and updates to adjust local regulations to international standards and the recommendations of the Financial Action Task Force (GAFI).
Argentina is currently undergoing a GAFI/GAFILAT review and evaluation process. In that sense, Law 27,739 was promoted by the Financial Information Unit (UIF) to introduce more tools to combat organized crime, promote compliance with obligations of the private sector and address key aspects that emerged from the GAFI/GAFILAT mutual evaluation.
By means of Resolution No. 87/2024, the Secretariat of Commerce established that businesses that operate with purchase, debit or credit cards must make the electronic payment terminal available to consumers. This is to ensure that they do not lose control of their card during the transaction.
On 28 February 2024, Regulatory Resolution 11/2024 (“RR 11/2024”) of the Tax Agency of the Province of Buenos Aires (TABA) was published in the Official Gazette of the Province of Buenos Aires. The resolution regulates the additional advance payment (“Additional Advance Payment”) on gross income tax (GIT) established in Article 136 of Law 15,479 (Tax Law 2024), which establishes that taxpayers who comply with the parameters established in the RR 11/2024 shall pay an additional GIT advance payment equal to four times the amount of tax determined in the advance payment for the month of October 2023.
On 29 February 2024, the National Supreme Court of Justice issued a ruling in the case Oliva, Fabio Omar v. COMA S.A. re. dismissal, whereby it established that the capitalization formula applied to employment lawsuits by the National Employment Appellate Court is disproportionate and contrary to the guidelines of the Argentine Civil and Commercial Code.
The Labor Department (MTE) has disclosed in its website some clarifications for Frequently Asked Questions (FAQ) about the New Equal Pay Law.
The publication of the FAQ, which was very anticipated by employers, covers questions ranging from the purpose of the creation of the Law to more specific aspects of the publication of the Salary and Remuneration Transparency Report.
On 1 April 2024 new provisions contained in the Financial Code for the State of Mexico will become effective, with regard to the following taxes:
- Ecological Tax on Waste Disposal, Confinement and Storage (“The Waste Tax”);
- Tax on Pollutant Emissions to Water (“Water Tax”).
There are also new rates applicable to the Tax on Pollutant Air Emissions (“Air Emissions Tax”), in force since 2022.
With the recent updates from the Labor Department re. the Pay Transparency Report (for companies with 100 or more employees), our Employment and Compensation Group has produced an infographic with the main points of attention related to the topic.