Ministry of Productive Development, Secretariat of Mining – Resolutions No. 50/2021 and No. 51/2021.
Mining Department Report | Ministry of Productive Development, Secretariat of Mining – Resolutions No. 50/2021 and No. 51/2021
Dear Sir or Madam,
Resolutions No. 50/2021 and No. 51/2021 of the Ministry of Productive Development – Secretariat of Mining, both published in the Official Gazette on March 8, 2021, provide – among others- the following measures:
1) The declaration of the Preventive Deregistration of the individuals and legal entities registered in the Registry of Law No. 24,196 on Mining Investments that enjoyed its benefits (the “Preventive Deregistration”).
The Preventive Deregistration is due to the non-compliance with the obligations established in Law No. 24,196 on Mining Investments (“FMIL”), which establishes a special promotion regime for the development of the mining activity in the Argentine Territory.
The FMIL confers tax benefits and customs exemptions to those that are registered in the FMIL´s Registry. At the same time, it establishes that membership in such Registry entails the fulfillment of obligations inherent to being registered, such as the submission of affidavits on the use of said benefits, the obligation to use the goods imported under FMIL, Section 21 exclusively for mining activities, and to ensure compliance with the requirements made by the Authority of Application (the Mining Secretariat), among others.
2) A total of 140 individuals and legal entities registered before the FMIL’s Registry were Preventively Deregistered by means of the Annexes to Resolutions No. 50/2021 and No. 51/2021.
3) The Preventive Deregistration was ordered for a term of one (1) year by virtue of the provisions of Resolution No. 118 dated November 17, 2020, of the Secretariat of Mining, of the Ministry of Productive Development.
4) Those affected by the declaration of Preventive Deregistration may request their rehabilitation in accordance with the provisions of Resolution No. 118/20, section 4.
5) The declaration of Preventive Deregistration does not imply waiving the powers of assessment and audit of the Secretariat of Mining, nor does it prevent the initiation or continuation of the proceedings currently in process or the application of penalties provided for in the current regulations.
The Federal Tax Authority (AFIP) was notified of the Preventive Deregistration issued by Resolutions No. 50/2021and No. 51/2021.
Resolutions No. 50 and No. 51 have entered into force as of March 8, 2021.
Please, do not hesitate to contact us should you require any further information on this matter.
Marcos Moreno Hueyo