Franchises Application Authority - Control Mechanisms - Full Text Of The Norm

Original Language Title: FRANQUICIAS AUTORIDAD DE APLICACION - MECANISMOS DE CONTROL - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
FRANCE Decree 1232/96

It should be noted that the implementing authorities of the regime established by Act No. 22,021 and its amendments should implement control mechanisms to verify the effective implementation of the provisions of article 11 of the aforementioned rule.

Bs. As., 30/10/96

VISTO Act No. 22,021, its amendments No. 22,702 and No. 22,973, its regulatory and supplementary rules and Act No. 24,624, and


That article 11 of Law No. 22.021 provides that investors in promoted companies may differ from the payment of the amounts to be paid in taxation until SETENTA and CINCO BY SCIENTO (75 %) of the direct contribution of capital or in their case of the amount of shareholders or deduct from the taxable amount for the purposes of the calculation of the tax on profits the amounts actually invested.

Significant disadvantages have been observed between the time of the use of profit and the application of capital to the realization of the promoted project.

That such a situation leads to the deviation of the promotional objectives pursued by the rule by the failure to produce the timely counterpart of the tax sacrifice.

That, therefore, it is necessary to implement a regulatory mechanism that allows the necessary compatibility between the realization of the investment schedule of the promoted project and the promotional benefit.

That the present is dictated in the use of the powers conferred by article 99, paragraph 2, of the National Constitution.




Article 1 anual The implementing authorities of the regime established by Act No. 22,021 and its amendments No. 22,702 and No. 22,973, shall implement - without prejudice to the powers that correspond to the general tax division, the agency dependent on the MINISTERY of economics and ARTWORKS and SERVICES

Art. 2o . From the entry into force of this decree the respective Authority of Application shall authorize the maximum amount of capital subject to benefit to be captured by the promoted company for the remainder of the 1996 period and/or for the subsequent periods, subject to verification and certification of the fulfillment given by the owner of the project promoted regarding the application of the capital subject to profit in the terms of Article 1 of this Decree.

In no case may a period exceed NOVENTA (90) days run between the date of collection of funds and the effective investment in fixed assets and/or working capital to be carried out by the promoted company.

Failure to comply with the provisions of the preceding paragraph will result in the application of the penalties provided for in Act No. 22,021 and its amendments No. 22,702 and No. 22,973 and those applicable in accordance with the existing legal provisions.

Art. 3o El The timetable for the acquisition of capital subject to profits, provided for in the Table of Sources and Uses of Funds referred to in Article 1o, may be modified only in a concomitant manner with the timetable for the implementation of the project promoted.

The Authority of Implementation shall approve the amendments referred to in the preceding paragraph and make the communication to the SECRETARIAT OF HACIENDA and the DIRECCON GENERAL IMPOSITIVA, organisms dependent on the MINISTERY OF ECONOMY AND PUBLIC SERVICES.

Art. 4o . Promoted companies that, at the date of entry into force of this decree, would have captured amounts of the capital subject to promotional benefit in excess of the timetable provided for in the Sources and Uses of Funds Table referred to in Article 1 shall, in character prior to the capture of new amounts, apply the capital to the execution of the project promoted until its exhaustion, under the conditions of the second paragraph of Article 2.

Art. 5o . From the entry into force of the present decree, the franchises established in article 11 of Law No. 22.021 may only be used against the presentation to the General IMPOSITIVA DIRECTION, an agency dependent on the MINISTERY of ECONOMY and ARTWS and PUBLIC SERVICES, in the form, time and conditions available, of the authorization to which the remainder of this article 2

Art. 6th . Communicate, publish, give to the National Directorate of the Official Register. . MENEM. . Jorge A. Rodriguez. . Roque B. Fernández.