By Decree no. 1424/2015, published in the Official Gazette on July 28, 2015, The Incentive Scheme for national production of Capital Goods, IT and telecommunications was extended until December 31, 2015. (“Incentive Scheme”)
Created by Decree no. 379/2001, the Incentive Scheme was implemented in early 2001 to benefit those capital goods manufacturers with industrial establishments in Argentine territory, by granting tax bonuses.
The fiscal bonus is equivalent to 14% of the amount obtained by subtracting the value of the imported inputs incorporated into the good from the selling price, which have a 0% import duty.
In order to obtain the abovementioned benefit, taxpayers must submit two affidavits:
i. A report of the total number of employees at December 31, 2011;
ii. An express commitment to not reduce staffing, with reference to the maximum number of people employed in December 2011. Failure to comply authorizes the Tax Federal Agency to cancel and / or refuse the benefit conferred.
The beneficiaries may request the nominative tax bonus, which may be ceded to third parties only once.
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