ARGENTINA

On May 8, the Senate Economy and Budget Committees passed the knowledge-driven economy bill renewing the regime designed to promote the software industry. The government expects the bill to be discussed in the Senate’s next session, which could take place either on May 15 or 22.

No amendments were made to the text passed by the Chamber of Deputies on April 24.

The bill, filed by Dep. Luciano Laspina – member of the ruling party – after being announced by President Mauricio Macri in March, provides a fiscal framework allowing those enrolled in the “National Registry of Beneficiaries of the Knowledge-Driven Economy Promotion Regime” to compete at international level and increase their productivity. The beneficiaries will be granted fiscal stability for their promotional activities, and thus will not be exposed to increases in their tax burden. Besides, for each registered worker they will receive a drawdown and fiscal credit bonus transferable for one time only.

This proposal promotes the industries of software, audiovisual production and postproduction, biotechnology, biochemistry, microbiology, bioinformatics, neurotechnology, aerospace, satellite and robotics industries, among others. It also includes engineering, exact and natural sciences, farming sciences and medical sciences related to research and experimental development.