A large-scale package of economic reforms has been approved by the National Congress. It concerns a new regime for stimulating large investments and a regime for streamlining taxation.
As part of the regime for stimulating large investments, some tax incentives and exemptions should be established. Such incentives for investors in large Argentine projects imply a rate of 25% corporate income tax compared to the current rate of 35%. As well as exemption from currency rules and a stable exemption from new taxes for a period of 30 years. At the same time, the minimum investment threshold that will allow using this regime is 200,000,000 USD.
A settlement of tax, customs and social obligations, as well as an asset settlement regime are also expected. The proposed law, in addition, introduces changes to the personal income tax and reduced rates of property tax for individuals.