The Government regulated the Investment Promotion Regime for Exports of Knowledge Economy Activities, through decree 679/2022 published this Tuesday in the Official Gazette.
The Regime, announced by the Minister of the Economy, Sergio Massa, last week, grants free availability of 20% of the foreign currency that enters the country for investment projects aimed at exportsas well as 30% of the foreign currency resulting from the increase in foreign sales, to be used to pay salaries.
The measures benefit companies working in the software, professional services, biotechnology, audiovisual, satellite and aerospace, video games and nanotechnology sectors
The measures benefit companies that work in the software, professional services, biotechnology, audiovisual, satellite and aerospace, video games and nanotechnology sectors, among others, with The purpose is to stimulate the generation of foreign exchange and qualified employment through direct investments in infrastructure, capital goods and working capital.intended for the start-up of new projects or expansion of others that involve the development of activities in the sector.
The Regime includes the exception of the liquidation requirement in the Free Exchange Market (MLC) of an amount equivalent to 20% of the foreign currency that enters for foreign direct investment in excess of US$ 3 million.
Companies can join the new Regime from Wednesday and until June 30, 2023 and they have 24 months to carry out the investments from the approval of the project, extendable for up to another two years.
The benefit can be applied to the payment of capital and interest on commercial or financial liabilities abroad, profits and dividends that correspond to closed and audited balance sheets, to the repatriation of foreign currency of non-residents or to the investments reached by the Regime.
The second benefit is aimed at companies registered and approved in the Knowledge Economy Promotion Regime, so that they can access a freely available amount of dollars
The second benefit is aimed at companies registered and approved in the Knowledge Economy Promotion Regime (RPEC), so that they can access an amount of free availability of dollars, equivalent to 30% of the foreign currency that enters through incremental net exports. made, to be applied to the payment of salaries of staff in a dependency relationship.
In this way, adds to the tax incentives offered by the Knowledge Economy Law for companies registered in the Regime, which are already more than 540 –of which 327 are exporters–, which have access to a tax credit bonus corresponding to 70% of the reduction in employer contributions of the personnel dedicated to said activities; and an income tax reduction of 60%, 40% and 20%, depending on the size of the company.
The decree also relaxes the use of the aforementioned tax credit bonus for the employer charges of companies registered in the RPEC, whose exports represent at least 70% of their annual turnover, so that they can transfer it only once, with what is generated a greater incentive for the growth of firms that provide services abroad.
