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INCENTIVE FOR ARGENTINE FEDERAL CONSTRUCTION AND ACCESS TO HOUSING

Law 27613

Provisions.


TITLE I

Incentive to Federal Construction Argentina and Access to Housing

CHAPTER I

Article

Article 1 °-Implement the Regime of Incentive to the Federal Construction Argentina and Access to Housing, aimed at promoting the development or investment in real estate projects carried out in the territory of the Argentine Republic, defined by in accordance with Article 2.

Article 2-For the purposes of this law, real estate projects shall be understood as new private works which are initiated from the entry into force of this law (constructions, extensions, installations: among others) and which, in accordance with the building codes or similar provisions, are subject to denunciation, authorization or approval by competent authority.

Within the definition of new private works, those which, at the date of entry into force of this law, have a degree of advancement less than fifty percent (50%) of the completion of the work.

CHAPTER II

Profit for the investor

Article 3 °-Exxime of the Tax on Personal Goods set out in Title VI of Law 23.966, which was ordered in 1997 and its amendments, to the value of investments in investment projects carried out until 31 December 2022, in the case of the Argentine Republic developed directly or through third parties, from the fiscal period in which the investment is effected and until the investment in the completion of the real estate project, its award or the disposal of the right and/or the participation originated on the occasion of that right, whichever is the first, up to a maximum of two (2) tax periods.

For the purposes of the preceding paragraph, the exemption comprises those goods whose holding, as at 31 December of each year, represents the investment in the real estate projects mentioned therein, either directly or through the third parties-irrespective of the legal form, contract and/or vehicle adopted for the purpose of the investment-and provided that it has been effected by national currency funds in a timely manner declared and/or arising from the prior implementation-by means of transitional application for the purchase of national public securities-foreign currency in accordance with the terms and conditions laid down by the national executive branch in accordance with the terms and conditions laid down in this law, and to the extent that they do not fall within the provisions of Title II of this Law.

Article 4 °-Establishment which may be counted as payment on account of the Personal Property Tax equal to one per cent (1%) of the value of investments in real estate projects as defined in Article 2 of this Law, which shall comply with the following guidelines:

a) In relation to investments made since the date of entry into force of this law and up to the due date of the filing of the tax declaration on the Personal Goods Tax of the fiscal period 2020, both dates inclusive: it will be computed on account of the tax determined in the fiscal period 2020, not being able to generate balance in favor. The unused remainder may be transferred, in the first term, to the following tax period and to continue, to the fiscal year 2022;

(b) In relation to investments made from the day following the expiration date of the filing of the tax affidavit on the Personal Goods of the fiscal period 2020 and up to 31 December 2021, both dates inclusive: will be computed on account of the tax determined in the fiscal year 2021, not being able to generate balance in favor. The unused remainder may be transferred only to the following tax period;

c) In relation to those investments made since 1 January 2022 and until 31 December 2022, both dates inclusive: will be computed on account of the tax determined in the fiscal year 2022, not being able to generate balance in favor. The unused remainder may not be transferred to subsequent tax periods.

Article 5-Holders of immovable property or property rights shall be deferred to the payment of the payment of the Tax on the Transfer of the Infurniture of Physical Persons and the Succession of Incurrency, established in Title VII of Law 23.905 or of the Tax to the gains, as appropriate, when the corresponding taxable event is set up on the basis of the transfer and/or disposal of those to the persons covered by points (a), (b), (c), (d) and (f) of Article 53 of the Tax Act; Earnings, text ordered in 2019 and its modifications, that develop the projects property in the terms of article 2 ° of this law, which occurred from the date of entry into force of this law and until December 31, 2022, both dates inclusive.

The condition laid down in the preceding paragraph shall be deemed to be completed when the effective start of the development of such projects occurs with a maximum period of two (2) years from the time the buildings or the right on the projects, have been transferred and/or disposed of.

The payment of the tax shall be made at the time or tax period in which the holders: (i) receive a consideration in national or foreign currency; (ii) transfer or transfer to any degree the participation, rights or the like that they have received as consideration; (iii) the completion of the work occurs; or (iv) the unit that they would have received as consideration is awarded; whichever occurs in the first place.

For the purposes of determining the taxable amount of the Income Tax to be deferred, the provisions to be established by the legal standard of the levy shall be considered, taking into account the updated acquisition cost. In order to determine the computable cost, it must be updated from the date of the acquisition, and/or from the date the construction was performed and/or each of the improvements, to the date of the transfer and/or disposal, by applying the index referred to in the second paragraph of Article 93 of the Income Tax Act, the text ordered in 2019 and its amendments, or its equivalent according to the name of the latter in the period in question.

For the purposes of using the index referred to in the preceding paragraph, the provisions of Article 10 of Law 23,928, as amended by Law 25,561, do not apply.

TITLE II

Program of Standardisation to Reactivate the Federal Construction Argentina

CHAPTER

Standardization of the holding in national and foreign currency for the construction of investments in construction

Article 6 °-Human persons, undivided successions and the subjects established in Article 53 of the Law on Income Tax, text ordered in 2019 and their modifications, resident in the Republic of Argentina, may declare in a manner voluntary before the Federal Administration of Public Revenue, an autarchic entity in the field of the Ministry of Economy, the holding of foreign currency and/or national currency in the country and abroad, under the conditions provided for in the present chapter, within a time limit which will extend from the date of entry into force of this law and until after the period of one hundred and twenty (120) days running from that term, both dates inclusive.

The holding of foreign currency and/or national currency in the country and abroad, which would be exteriorized in the terms of this regime, is that which would not have been declared to the date of entry into force of this law, according to the procedure to establish the Federal Administration of Public Revenue.

Article 7 °-The funds included in the voluntary declaration of the foreign currency and/or national currency must be deposited in a Special Account of Deposit and Cancellation for the Argentine Construction (CECON.Ar) in one of the entities In accordance with the provisions of Law 21,526 and its amendments, the Federal Administration of Public Revenue and the Central Bank of the Republic of Argentina shall be amended in the manner and time limits.

The declared funds may be applied temporarily to the purchase of national public securities and immediately invested in the destinations referred to in the following paragraph.

The declared funds shall be affected only by the development or investment in the real estate projects in the Republic of Argentina referred to in Article 2 of this Law.

Article 8-The currency to be deposited in banking or financial institutions or other foreign institutions subject to the supervision of central banks or equivalent bodies of their institutions shall be included in the provisions of this Title. respective countries and/or securities commissions, or equivalent bodies that have been assigned the banking or securities supervision that admit outstanding balances in institutions ' accounts under their supervision, or in other entities that consolidate their states accounting statements of a local bank authorised to operate in the Republic Argentina.

These institutions shall also be located in countries that fill in internationally recognised standards or recommendations for the prevention of the laundering of assets and the financing of terrorism.

They shall not be subject to standardisation, holdings abroad, which are deposited in financial institutions or custody agents located or located in jurisdictions or countries identified by the Financial Action Task Force (FATF) as High risk or non-cooperating.

Article 9-Establishment of a special tax to be determined on the value of the holding that is declared, expressed in national currency at the time of entry into the special account, in accordance with the following aliquots:

(a) Ingresados from the date of entry into force of this law and until the end of the sixty (60) days running from that date, both dates inclusive: five percent (5%);

(b) from the day after the expiry of the period of subparagraph (a), and until the end of the thirty (30) days running, both dates inclusive: 10% (10%);

(c) from the day after the expiry of the period of subparagraph (b), and until the end of the thirty (30) days run, both dates inclusive: 20% (20%).

To the sole effect of the determination of the tax base referred to in the preceding paragraph, the foreign currency valuation shall be considered to be the buyer exchange rate of the Bank of the Argentine Nation corresponding to the date of your income to the special account mentioned there.

Article 10.-The special tax fixed in the previous article of this law shall be determined and entered in the form, period and conditions laid down by the Federal Administration of Public Revenue.

The failure to pay the excise duty within the time limits laid down in this Chapter and in the rules governing the application shall deprive the person making the voluntary declaration of all the benefits provided for therein.

The tax set out in the previous article of this standard shall not be deductible nor may it be considered as payment on account of the tax set out in the Earnings Tax Act, text ordered in 2019 and its modifications.

The excise duty fixed in the preceding article shall be governed by the provisions of Law 11.683, the text ordered 1998 and its amendments.

Article 11.-The subjects who make the voluntary declaration of foreign currency and/or national currency in the terms of this chapter, shall not be required to inform the Federal Administration of Public Revenue, without prejudice to compliance of Law 25,246 and its amendments, and other obligations, the date of purchase of the holdings or the origin of the funds with which they were acquired, and shall enjoy the following benefits for the amounts declared:

(a) shall not be subject to the provisions of Article 18 (f) (f) of Law 11.683, the text ordered in 1998 and its amendments, in respect of the holdings of externalized holdings;

(b) they shall be released from any civil, commercial, criminal-tax, criminal-exchange, customs-criminal and administrative offences that may correspond;

(c) They are exempted from the payment of the taxes which they have failed to declare, in accordance with the following provisions:

1. Earnings taxes, non-documented outflows under Article 40 of the Earnings Tax Act, text ordered in 2019 and amendments thereto, transfer of real estate and non-payment inheritance and on loans and debits in bank accounts and other operations: in respect of the amount of the net taxable amount of the tax applicable, the equivalent amount in national currency of the holding of foreign currency and/or national currency, which is declared voluntarily.

2. Internal taxes and value added: the amount of transactions released shall be obtained by multiplying the national currency value of the externalized holdings by the coefficient resulting from dividing the total amount of declared operations. registered in case of no affidavit-for the amount of the gross utility, corresponding to the tax period that is intended to be released.

3. Tax on personal property and the special contribution on the capital of cooperatives: in respect of the tax due to the increase of goods subject to tax or taxable capital, as appropriate, in an amount equivalent in national currency to voluntarily declared holdings.

4. Income tax for net income not declared: in its equivalent in national currency, obtained abroad, corresponding to the holdings that are declared voluntarily.

Article 12.-The voluntary declaration made by the companies within the meaning of Article 53 (b) of the Law on Income Tax, ordered in 2019 and its amendments, shall release the tax on profits corresponding to the partners, in proportion to the taxable matter which is attributable to them, in accordance with their participation in the latter. The same criterion shall be applied in relation to the subjects referred to in point (c) of the said article in relation to the trustees, beneficiaries, beneficiaries and/or trustees and/or beneficiaries.

The willing release will proceed only on the assumption that the subjects mentioned in points (b) and (c) of Article 53 of the Income Tax Act, ordered text in 2019 and its modifications would not have exercised the option to which it was referred to in point 8 of Article 73 (a) of that law.

Human persons and individual successors who make the voluntary declaration provided for in this Chapter may release the tax obligations of the single-member companies from which they are or would have been the holders.

Article 13.-The release provided for in Article 11 (c) of this Law shall not apply to the withholding or perceptions practiced and not entered.

Article 14.-None of the provisions of this law shall release financial institutions or other persons required to be financial institutions, public notaries or public notaries, accountants or contadoras, syndicates or syndicates, auditors or auditing or directors or other of the obligations linked to legislation aimed at preventing money laundering, terrorist financing or other crimes provided for in non-tax laws, except for with regard to the figure of tax evasion or participation in tax evasion.

Excluded from the scope of this law are the sums of money coming from conduct liable to be framed under the terms of Article 6 of Law 25.246 and its amendments relating to the crime of money laundering and financing. of terrorism. The persons referred to in the first article of this Chapter, who intend to gain access to the benefits of this voluntary declaration scheme, shall formalise the submission of an affidavit in this respect. any other measure that is necessary for the purpose of corroborating the viability extremes for the reception.

In the cases referred to in Article 6 (1) (j) of Law 25.246 and its amendments, the exclusion shall be brought to the extent that the judgment has been delivered and is firm before the entry into force of the present law.

Article 15.-Excluded or excluded from the provisions of this Chapter, who are in any of the following situations:

(a) Declared or declared bankrupt, in respect of or in respect of which the holding has not been provided for, in accordance with the rules in force;

(b) The convicted or convicted of any of the offences provided for in laws 23,771 and its amendments, 24.769 and its amendments, Title IX of Law 27.430 and its amendments or in Law 22,415 (Customs Code) and its amendments, in respect of which a judgment has been given and is firm prior to the entry into force of this law, provided that the sentence is not fulfilled;

(c) Those convicted or convicted of criminal offences in connection with non-compliance with tax obligations, in respect of which a judgment has been given and is firm prior to the date of entry into force of the This law, provided that the sentence is not met;

d) Those convicted or convicted of crimes linked to money laundering or terrorist financing operations in respect of which a sentence has been issued and is firm prior to the date of entry into force of the present law, provided that the sentence is not fulfilled; the spouses, cohabitants and relatives in the second degree of consanguinity or ascending or descending affinity;

e) Legal persons in whom, as appropriate, their partners, partners, administrators or administrators, directors, directors, syndicates, syndicates, members of the supervisory board, counselors, counselors, or those holding equivalent positions in the same, have been convicted or convicted for violation of laws 23,771 and its modifications, 24.769 and its modifications, to Title IX of Law 27.430 and its modifications, Law 22,415 (Customs Code) and its modifications, or for crimes In the case of non-compliance with tax obligations, in respect of which a judgment has been given and is firm before the date of entry into force of this law, provided that the sentence is not fulfilled.

Article 16.-The subjects that were excluded from the provisions of this Title shall be excluded from the provisions of this Title, which shall have performed the following public functions between 1 January 2010, including, and the validity of this Law:

a) President and Vice President of the Nation, Governor, Deputy Governor, Chief or Deputy Head of Government of the Autonomous City of Buenos Aires or Municipal Mayor;

b) Senator or national, provincial or municipal member of the Autonomous City of Buenos Aires, or municipal councillor, or member of the Mercosur [Common Market of the South];

c) Magistrate of the national judicial branch, provincial, municipal or the Autonomous City of Buenos Aires;

(d) Magistrate of the National Public Ministry, provincial, municipal or Autonomous City of Buenos Aires;

(e) Ombudsman or deputy of the National Ombudsman, provincial, municipal or Autonomous City of Buenos Aires;

f) Chief of Cabinet of Ministers, Minister, Secretary or Deputy Secretary of the National Executive, Provincial, Municipal or Autonomous City of Buenos Aires;

(g) Federal, provincial, municipal or Autonomous City of Buenos Aires;

(h) General Secretariat of the Nation, Deputy General of the General Trade Union, President or Auditor-General of the General Audit Office, Senior Authority of the Regulatory Authorities and the other bodies that integrate the control systems of the sector national, provincial, municipal or Autonomous City of Buenos Aires, and members of administrative courts in all three levels of government;

i) Member of the Council of the Magistracy or the jury of prosecution;

(j) Ambassador, consul or senior official on a permanent official mission abroad;

(k) Personnel in the activity of the armed forces, of the Argentine Federal Police, of the Airport Security Police, of the National Gendarmerie, of the Argentine Naval Prefecture or of the Federal Penitentiary Service, with a hierarchy of no less than Colonel or equivalent, personnel of the provincial police, municipal or Autonomous City of Buenos Aires with a category of not less than that of the commissioner, or lower category staff, in charge of the police station;

(l) Rector, dean or secretary of the national, provincial, municipal or Autonomous City of Buenos Aires;

(m) an official or employee with a category or function not less than that of a national director or equivalent, who serves in the national, provincial, municipal or Autonomous City public administration of Buenos Aires, centralized or decentralized, autarchic entities, banks and financial institutions of the official system, the social works administered by the State, the companies of the State, the companies of the State or personnel with similar category or function and in others public sector entities;

(n) a contributing official of federal, provincial, municipal or Autonomous City of Buenos Aires, with a category or function not less than that of a national director or equivalent;

(o) Personnel of the bodies referred to in point (h) of this Article, with a category not less than that of a national director or equivalent;

(p) Official or public employee responsible for granting administrative ratings for the exercise of any activity, as well as any official or public employee responsible for controlling the operation of such activities or for exercising any other control under a police power;

(q) an official who integrates the control bodies of the privatised public services, with a category not less than that of a national director or equivalent;

(r) Personnel who perform in the national, provincial, municipal or Autonomous City of Buenos Aires, with a category of no less than that of a national director or equivalent;

(s) Personnel who serve in the Judicial Branch or in the national, provincial, municipal or Autonomous City of Buenos Aires, with a category of no less than secretary or equivalent;

(t) an official or public employee who includes commissions for the award of invitations to tender, purchase or receipt of goods, or participates in the decision-making of tenders or purchases at any of the three levels of government;

(u) a public official who has the function of administering a public or private estate, or controlling or supervising public revenue in any form whatsoever;

(v) Director or administrator of the entities subject to the external control of the Congress of the Nation, in accordance with the provisions of Article 120 of Law 24.156;

(w) Personnel of the intelligence agencies, without distinction of degrees, may be their permanent or transitory status.

The spouses, parents and minor children emancipated from the subjects referred to in points (a) to (w) of this Article shall also be excluded.

Article 17.-Subject to the rules laid down in this Title, the persons who are subject to the procedure must first waive the promotion of any judicial or administrative procedure to claim for tax purposes the application of updating of any nature. Those who, at the date of entry into force of this law, have already promoted such processes, as any other of the tax nature, will have to desist from the actions and rights invoked there.

In the case of the waiver referred to in the preceding paragraph, the payment of the costs and the cost of the security shall be imposed in the order caused, renouncing the tax to the collection of fines.

Article 18.-The Federal Administration of Public Revenue shall be exempt from making criminal charges in respect of the offences provided for in laws 23,771 and its amendments, and 24.769 and its amendments, Title IX of Law 27.430 and its amendments, or in law 22,415 (Customs Code), as appropriate, as well as the Central Bank of the Argentine Republic of substantiating the exchange of criminal charges and/or making a criminal complaint with respect to the offences provided for in law 19,359 (t.o. 1995) and its amendments-except in the case of the case referred to in Article 1 (b) of the Annex to that law-to the extent that the subjects concerned regulate their tax, social security and customs duties in accordance with the provisions of this Title.

Without prejudice to the foregoing paragraph, the Federal Administration of Public Revenue shall be required to comply with the obligations laid down in Law 25.246 and its amendments, including the obligation to to provide the Financial Information Unit, under the Ministry of Economy, with all the information required without the possibility of opposing the tax secrecy provided for in Article 101 of Law 11.683 (t.o. 1998) and its amendments.

Article 19.-The normalisation which is carried out, and the content of each and every procedure leading to the completion of the same, are achieved by the tax secrecy and governed by the provisions of Article 101 of Law 11.683 (t.o. 1998) and its amendments.

Magistrates, officials, judicial employees or dependents of the Federal Administration of Public Revenue, are obliged to maintain the absolute secrecy of everything that comes to their knowledge in the performance of their functions without power. to communicate it to any person, even at the request of the person concerned, except to his hierarchical superiors. The same obligation shall exist for any third party in respect of any documentation or information in any way related to the voluntary and exceptional declarations regulated by this law that are presented by any taxpayer.

Magistrates, officials, judicial employees or dependents of the Federal Administration of Public Revenue, declarants and third parties who disclose or reproduce documentation or information in any way related to the statements Voluntary and exceptional regulated by this law will incur the penalty provided for in Article 157 of the Penal Code.

Journalists and social communicators, as well as the media and their legal persons, for reasons of public interest will be exempt from the above.

Article 20.-There shall be no limitation within the framework of this regime to the current capacity of the State to exchange information, report, analyze, investigate and punish conduct that may be covered by Articles 303 and 306 of the Code. Penalty.

TITLE III

Consolidation of public works for social housing

Article 21.-Disposal for the purposes of the reactivation of the works paralyzed or abandoned, in construction processes with contributions from the national State, through the different programs or plans of the Ministry of Territorial Development and Habitat of the Nation, that the percentages of actual physical advancement and edicily suitable, will constitute the basis for the determination of the outstanding balance of financing for the completion of the same ones.

Article 22.-For the purposes of the application of the mechanism provided for in the preceding Article, and without prejudice to the requirements to be laid down in the rules to be laid down, the jurisdictions and implementing entities shall provide proof of The percentage of actual physical advancement and the ability of the works to be completed or abandoned, by means of technical reports issued, by means of an affidavit, by professionals with responsibility in the field, endorsed by Photographic records dated and certified by the public, and signed by the maximum the authority of the jurisdictions and implementing entities with jurisdiction.

Article 23.-The national executive branch, through the Ministry of Territorial Development and Habitat of the Nation, shall be the implementing authority of the provisions contained in this Title and shall determine the requirements of the jurisdictions. and implementing entities must complete in order to access the aforementioned consolidation mechanism, being able to dictate all the clarifying and complementary norms that are necessary for the proper functioning and implementation of the same.

TITLE IV

Additional rules

Article 24.-The national executive branch shall be empowered to:

(a) Extend the periods of validity of the Federal Building Incentive Regime and Access to Housing;

(b) to extend the items and/or activities under the different modalities to be adopted for the development of real estate projects;

c) Establish, through the agreement between the Ministry of Territorial Development and Habitat of the Nation and the Ministry of Economy, and based on the principle of equity and the diverse fiscal and labor situation in the different areas and regions of the country, the power to apply an additional increase in the computation as tax credit of the value added tax of the employer's contribution, effectively paid, as defined in Article 19 of Law 27,541;

(d) to carry out studies and research on the social and economic impact of the scheme and other modes of transaction, as the case may be, in accordance with the objective sought by it. To this end, the Central Bank of the Argentine Republic and the Federal Administration of Public Revenue will produce the corresponding reports.

Article 25.-The Ministry of Territorial Development and Habitat of the Nation, the National Securities Commission, the Central Bank of the Republic of Argentina and the Federal Administration of Public Revenue will dictate, within the framework of their respective powers, the relevant complementary rules, including those relating to the verification of compliance with the requirements laid down in this Law.

Article 26.-Invite the Autonomous City of Buenos Aires and the provinces to establish exemptions in the stamp tax and promote their municipalities to grant tax incentives, in the framework of this regime.

Article 27. The provisions of this law shall enter into force on the day of its publication in the Official Gazette of the Argentine Republic.

Article 28.-Commune to the national executive branch.

GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, ON THE TWENTY-FOUR DAYS OF FEBRUARY OF THE YEAR TWO THOUSAND TWENTY-ONE.


CLAUDIA LEDESMA ABDALLAH DE ZAMORA-SERGIO MASSA-Marcelo Jorge Fuentes-Eduardo Cergnul