Decree N° 105/2026 | Amendments to RIGI’s implementing regulations
Joint Report of the Departments of Energy: Oil and Gas, International Trade and Customs Law, TMT, and Tax Law | Decree N° 105/2026: Amendments to RIGI’s implementing regulations
In line with the announcements made weeks ago by the GOA, Decree No. 105/2026 (“Decree 105”) was published in the Official Gazette, amending some of the implementing regulations of the Incentive Regime for Large Investments (“RIGI”) approved by Decree No. 749/2024 (“Decree 749”).
Please find below a summary of the main amendments introduced by Decree 105:
1. Extension of the deadline to submit RIGI applications
The deadline to submit RIGI applications is extended for one year as from July 8, 2026.
2. Incorporation of upstream projects to RIGI
Decree 105 amends the scope of the admitted subsectors in the oil and gas sector to include new onshore projects for the exploitation and production of liquid and gaseous hydrocarbon, provided that these projects are developed in areas that, as of the date of effectiveness of the RIGI Law, did not have a significant level of development and that, as of the date of submission of the RIGI application, do not register investments in exploitation or production.
Decree 105 clarifies that in the event that activities not included in RIGI coexist in the same hydrocarbons area, segregation and traceability shall be ensured through a separate measurement system. In these cases, the RIGI SPV must only own assets, rights and operations assigned to the development of the relevant RIGI project.
Decree 105 also modifies the minimum investment amounts applying to certain subsectors of the oil and gas sector:
(i) the minimum amount required for offshore exploration and production projects is reduced from US$600,000,000 to US$200,000,000; and
(ii) the minimum amount required for new liquid and gaseous hydrocarbons onshore exploitation and production projects is set at US$ 600,000,000.
The minimum investments applying to the other subsectors remain unchanged.
3. Goods eligible for import by RIGI suppliers without the application of import duties
The scope of the goods that may be eligible for import by RIGI suppliers with the benefit of exemption from import duties is amended to include supplies and intermediate goods applied to the manufacture, construction or processing of other final goods linked to infrastructure works corresponding to the RIGI project.
In connection with the condition set forth under the RIGI regulatory framework requiring the transformation of supplies and intermediate goods, in addition to the tariff code change standard, Decree 105 incorporates, as a different criterion, the integration of the relevant supply or intermediate good into infrastructure works essential for the RIGI project. In this case, the value of the imported goods may not exceed 50% of the total value of the infrastructure supply contract. The Ministry of Economy, as enforcement authority may authorize, with due justification, a percentage in excess of this limit.
The information/documentation to be submitted by suppliers adhering to RIGI is also modified, to include, as an additional requirement, the submission of the supplier’s trade balance and foreign exchange flow for the first three (3) years. If the foreign currency balance shows that the supplier shall require a net demand of foreign currency in the Argentine FX market (“MLC”), the Ministry of Economy must request the Argentine Central Bank (“BCRA”) to issue an opinion regarding the potential distortion of the MLC, taking into account the consolidated foreign currency flows of the project (SPV plus RIGI supplier).
4. Domestic market non-distortion requirement
Decree 749 established certain presumptions applicable to the analysis of the domestic market non-distortion requirement, including the case of projects aimed at the production “and/or” export of commodities. Decree 105 modifies the presumption to clarify that it applies to projects aimed at producing “and” exporting commodities.
5. RIGI expansions of pre-existing projects in the technology sector
Decree 105 incorporates certain amendments to the regulations governing RIGI expansions of pre-existing projects in the technology sector by including, within the admitted expansions, those cases in which the production of a new product is incorporated into a pre-existing project. In such cases, the expansions will be subject to the following conditions:
(i) The new product (compared to the goods under production at the time of submitting the RIGI application) must incorporate technological or functional content representing an innovation and present differences in at least 50% of its components (measured in terms of economic value).
(ii) The required minimum investment shall be equal to, or greater than, US$ 250,000,000.
(iii) The new product must have a market lifespan equal to, or lower than, 10 years, which will be evidenced, at the time of submitting the RIGI application, with a Useful Life Cycle Technical Report (issued by an independent professional, identifying and substantiating the estimated horizon of technological and commercial validity of the product).
Likewise, certain minor amendments are incorporated to the general rules governing RIGI expansions of pre-existing projects, to incorporate the corresponding references to expansions in the technology sector through the incorporation of new products.
6. RIGI expansions of RIGI projects
Decree 105 also amends Article 61 of the Annex to Decree 749 related to RIGI expansions of RIGI projects. The concept of expansion is defined as the set of investments in eligible assets to be made according to a fixed schedule that results in an increase in the production capacity of a RIGI project. Furthermore, an additional requirement is added to those stipulated in Decree 749: that the RIGI project, after the RIGI expansion, continues to meet all the requirements considered for its approval.
7. Tax benefits: special amortization regime
Decree 105 states that the Ministry of Economy, as enforcement authority, may authorize the application of the special amortization regime in the case of infrastructure works, processing or treatment plants, facilities and other capital goods integrated into them, provided that:
(i) such infrastructure works, processing or treatment plants, facilities and other capital goods integrated to them, form an inseparable and functional set with respect to the concession and/or exploitation rights referred to in Article 78 of the Income Tax Law, whose ownership corresponds to the SPV; and
(ii) the SPV must certify (through aa certification issued by a competent professional) that the type of depreciation used is appropriate based on the RIGI project’s features.
The same treatment shall be applied to amounts corresponding to investment plans related to a modification or expansion of an approved investment project aimed at encouraging the exploitation of reservoirs not previously subject to the amortization regime.
Once the special amortization regime application has been authorized by the Ministry of Economy, ARCA will be notified of this treatment.
8. Tax benefits: payment of dividends and corporate profits
With regard to the applicable tax rate for the payment of dividends or corporate profits, Decree 105 clarifies that the rate will be 7% or, as the case may be, any more favorable applicable rate.
In those cases where the distributed sums are not computable in the name of the beneficiary, the reduced 3.5% rate applying as the 7th year shall apply to dividends or similar profits or remittances that the beneficiaries distribute to their shareholders who are individuals and/or undivided estates residing in the country or foreign beneficiaries, up to an amount equivalent to that of dividends or profits corresponding to those distributed by the SPV.
This rule will apply to the remittance of dividends and/or profits abroad derived from the development of activities by the SPV, when, in accordance with any existing contractual and/or corporate agreement, such remittances must be carried out by the company owning a RIGI Dedicated Branch, who shall act as tax withholding agent.
9. Exemption from import duties
The Ministry of Economy, as enforcement authority, is authorized to extend the import duty exemption in respect of goods considered essential for the RIGI project. This condition must be evidenced by the SPV through the submission of a certification issued by an independent engineer, demonstrating that these goods are technically essential and operationally available for the fulfillment of the RIGI project.
10. Amendments to the FX net balance requirement
With regard to the FX net balance requirement provided for in Article 100 (c) of Decree 749, applying to RIGI projects requesting the benefit of free availability of export proceeds established in Article 198 of Law No. 27,742, Decree 105 clarifies that in addition to the foreign currency received and settled in the MLC directly by the SPV, it shall also be possible to consider, in the proportion in which such funds are effectively allocated to the development of the RIGI project, the equity contributions made by non-residents and the amounts disbursed under external financial debt (including notes issuances) received and settled in the MLC by the members or contracting parties of JVs (or other associative contracts) acting as RIGI SPVs, as well as by the shareholders of the SPV, or the company creating a Dedicated Branch. The traceability and use of funds to be approved by the BCRA will need to be followed to that effect.
11. RIGI suppliers
Decree 105 establishes specific provisions governing (i) the voluntary withdrawal from RIGI by RIGI suppliers; and (ii) the procedure for evaluating registration applications for RIGI suppliers.