Argentina’s tax authority, ARCA (formerly AFIP), announced General Resolution 5590/2024, which outlines the application of tax and customs benefits under the new Special Incentive Scheme for Large Investments (Régimen de Incentivo para Grandes Inversiones, RIGI).
As previously mentioned, the RIGI scheme is designed to attract large investments in Argentina. It provides tax, customs, legal, and foreign exchange benefits for investments surpassing USD 200 million for Argentine and international companies.
The AFIP, through General Resolution 5590/2024, implements tax and customs benefits for those who adhere to the Large Investment Incentive Regime (RIGI) with fiscal stability for 30 years.
Projects eligible under the RIGI scheme will benefit from a reduced corporate income tax rate of 25% for thirty years, exemptions from new taxes, and preferential rules for foreign-currency export income. Duties on specific imports and exports will be waived.
Furthermore, VAT will be settled using tax credit certificates without prior authorisation from the AFIP. Additionally, the tax on debits and credits will be fully deductible as an income tax payment.
Concerning customs benefits, temporary and permanent imports of capital goods, new merchandise, spare parts, and components will be exempt from tariffs, statistical fees, and national or local collection, advance, or retention schemes.
