Convergencia Research, Consultoría especializada en Latinoamérica y Caribe
Wednesday, May 20, 2020

Knowledge Economy Law got unanimous opinion and could be approved this week

About 75 representatives approved the project sent in February by the Executive, which was dealt with along with the undersecretary of Knowledge Economy, María Apólito, until reaching consensus among all the blocs. The project was voted yesterday in a plenary meeting - with some votes in partial dissent - of the Budget and Finance committees and that of Communications and IT. And it is expected to be approved by the House in the next session, which could take place between tomorrow and Thursday.

At the initiative of the Representative from Mendoza José Luis Ramón, head of the Unión Federal interbloc, transitional clauses were added. The need to accredit quality improvements, investments in training or R&D, and exports is extended for 180 days as from the end of the emergency. In addition, the requirement to increase these investments for the first biannual revalidation is suspended.

The project maintains the reduction of the Income rate and the decrease on the payment of employer contributions, and improves access conditions for SMEs.

Among the main changes with respect to the law voted last year, the new version does not contain a ten-year fiscal stability clause for companies, although it establishes a stability of benefits during the regime's duration.

The Minister of Productive Development, Matías Kulfas, said at the meeting that "there are growth opportunities even in a pandemic: there are companies that have been able to hire people".

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