- Decree No. 727/2021 (“Decree“) extended up to 31 December 2038 the tax and customs benefits set forth by Law No. 19,640 (“Law”) for the province of Tierra del Fuego, Antarctica and the South Atlantic Islands (“Province“) (“Regime“).
- The tax incentives mentioned below refer to the Tierra del Fuego Free Zone (which is defined below) and include: a) exemptions of federal taxes applicable to activities or operations to be performed in the Tierra del Fuego Free Zone or upon goods located in the Tierra del Fuego Free Zone; and b) customs benefits applicable to the reception or delivery of merchandise that a company located in the Tierra del Fuego Free Zone can make from or to companies located in any of the other operative areas. The exemptions apply to the following taxes: income tax, value-added tax (VAT) and excise tax.
- Industrial companies that undertake to make mandatory monthly contributions equivalent to 15% of the benefit obtained in VAT from the sale of products that are related to the industrial projects approved under the Regime will be able to access the same.
Source Baker & McKenzie
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