The Government made official a new regime to promote exports in different sectors of the national production chain, through the Decree 234 / 2021.
According to the regulations, published this Wednesday (07.04.2021/XNUMX/XNUMX), the measure will seek provide predictability to foreign direct or domestic investment financed with external credit, always aimed at increasing external sales.
The regime provides that the 20% of the foreign currency obtained from exports linked to a new investment will be freely applicable, and the maximum annual limit is equivalent to 25% of the gross amount of foreign currency received for the project.
These funds may be used to pay capital and interest on liabilities abroad, profits and dividends from closed and audited balance sheets, and repatriation of direct investments by non-residents.
If export proceeds are not immediately applied to their intended uses, the funds may be deposited until their use in foreign accounts in Argentine financial institutions and/or in local accounts in foreign currency in Argentine banks.
According to the official text, "Natural or legal persons, domiciled both in the country and abroad, may register in the new regime", who present to the Application Authority an 'Investment Project for Export' in the activity sectors included herein, which involves the realization of a direct investment in foreign currency of no less than an amount of US$100.000.000."
The regime is aimed at investments in the forestry, agro-industrial, hydrocarbon, mining and manufacturing sectors and applies to new projects or those already established but seeking to expand their productive capacity in order to export.
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