IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 13 Dec 2010 | Removal date: open ended
Still in force

Tax or social insurance relief

On December 2, 2010, the Argentinian Federal Public Income Administration enacted General Resolution 2986 concerning the rules of the accreditation and/or VAT early reimbursement regime for biodiesel investments.

The new regime allows all subjects holding biodiesel production projects owned by Argentinian companies or public entities to practice early reimbursements of the VAT corresponding to new capital assets that can be amortised -except for automobiles, or to infrastructure works -except for civil works.

The new law excludes from this benefits those who have already enjoyed the benefit of accreditation or early repayment of the value-added tax in relation to the same approved project; have financed VAT by the regime stipulated in the Law 24.402; are disabled to develop the activity or some of the plants involved in the approved project are disabled to develop the activity; companies whose majority shareholders are not Argentinian; have
tax, social security or customs debts; are in bankruptcy.

Another requirement to enjoy this special regime is to be registered in the Oil Companies - Companies and/or Distributors Companies Section of the Argentinian business registration as a biodiesel producing or mixing company.

The VAT reimbursement would be practice after at least three fiscal periods.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

333 Petroleum oils & oils of bituminous materials, other than crude
2710 Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic con
271020 Petroleum oils and oils obtained from bituminous minerals (other than crude) and preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the bas
354 Chemical products n.e.c.
3826 Biodiesel and mixtures thereof, not containing or containing less than 70 % by weight of petroleum oils or oils obtained from bituminous minerals.
382600 Biodiesel and mixtures thereof, not containing or containing less than 70 % by weight of petroleum oils or oils obtained from bituminous minerals.

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