ARGENTINA

On October 6, the Communications and Budget Committees of the House of Representatives passed the Knowledge Economy bill with all the amendments introduced by the Senate last week. However, the initiative came in for criticism from opposition coalition Juntos por el Cambio which said that it would not accompany the text approved this afternoon. It is expected that the bill will be debated and become law in a session to be held on October 7.

“In our bloc, we accept the modifications sent by the Senate and will vote in favor so that we have the Knowledge Economy Law in place as soon as possible,” indicated the chairman of the Budget Committee, Carlos Heller (Frente de Todos – ruling party).

He added that “the changes included by the Senate enhance fiscal effort being made to promote the country’s knowledge economy.” He explained that these resources have been tailored to meet the needs of companies most requiring them.

It should be noted that the initiative in question aims to update the Knowledge Economy Law passed in 2019. A promotional regime had been created to drive software development, audiovisual production, biotechnology, biochemistry, agricultural industry and robotics, among other areas. The new bill seeks to expand the scope of the program to benefit a greater number of small and medium businesses.