The Federal Public Revenue Administration (AFIP), in compliance with Decree No. 749/2024 that regulates the Large Investment Incentive Regime (RIGI), has issued the General Resolution 5590/2024This resolution unifies in a single regulatory body the procedures, formalities and conditions that the different actors involved must comply with in order to access the tax and customs benefits established within the framework of said regime. This measure will come into force on Thursday, October 24, 2024.
The regulated procedures are the following:
1.-Procedure for registering an import destination (Annex I)
2.-Procedure for registering an export destination ( Annex II)
3.-Scope and deadlines for goods entered under the RIGI to the destination verification regime ( Annex III)
4.-Rules for evaluating operations ( Annex IV)
5.-Cost sharing or contribution agreement -ACC- ( Annex V)
6.-Annual operations report ( Annex VI)
These procedures will allow obtaining the special Unique Tax Identification Code (CUIT) for single project vehicles (VPU). Registration for taxes and/or regimes. Processing the application and how to generate the special Unique Tax Identification Code (CUIT). The procedure for registering import and export destinations. Issuance and use of tax credit certificates.
The regulation also covers operations of the single project vehicle (VPU) with subjects linked to transfer pricing. Operations with entities, members and owners located in the country. Contribution or cost-sharing agreement. Information to be submitted. Guidelines to be considered, annual operations report. The special amortization regime in the income tax. Billing and General provisions.
About RIGI
Law 27.742 in its Title VII creates the Large Investment Incentive Regime (RIGI) in order to provide incentives, certainty, legal security and an efficient system of protection of rights acquired under its protection, to Single Project Vehicles (VPU) that, fulfilling the requirements provided in the aforementioned legal complex, make investments of national interest that are useful and conducive to the prosperity of the Argentine Republic.
The priority objectives of the aforementioned regime are, among others, to promote development and strengthen the competitiveness of various economic sectors, increase exports, encourage job creation, generate conditions of predictability and stability for large national and foreign investments, as well as encourage the growth of local production chains associated with the respective investment projects.
Chapter IV of the aforementioned title establishes a series of tax and customs incentives for the holders of the aforementioned unique projects.
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