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In the special session of 9 November 2022, the Chamber of Deputies granted the necessary approval for Congress to pass Law 27,699 by means of which the Argentine Republic ratifies the Amending Protocol with respect to the Automated Processing of Personal Data (“Convention 108+”). To complete the ratification process, the National Executive Branch will now study the law and, if approved, it will be published in the Official Gazette.

On 24 October 2022, the National Authority for the Protection of Personal Data approved a Guide to the International Transfer of Personal Data. According to articles 11 and 15 of Law No. 29733, Personal Data Protection Act, international transfer of personal data can only be carried out when a sufficient level of protection of personal data is guaranteed in the recipient country.

On 27 October 2022, the Investigating Authority of the Federal Economic Commission (COFECE) published a notice initiating an investigation into the marketing of services related to credit card transactions in the form of deferred payments with interest-free months due to alleged absolute monopolistic practices (or cartel practices), in particular, price fixing and the exchange of commercially sensitive information.

Baker McKenzie was invited to serve as the global editor of the Chambers Advertising & Marketing 2022 Practice Guide which features 8 high-profile jurisdictions and provides the latest legal information on the impact of the COVID-19 pandemic, advertising claims and clinical studies, comparative advertising, social/digital media, influencer campaigns, consumer promotions, sports betting/gambling, and cryptocurrency and non-fungible tokens.

The Public Registry of the City of Buenos Aires established new additional obligations for simplified stock companies (SAS), with the purpose of identifying inactive or fictitious entities.
The General Resolution No. 13/2022, enacted on 27 October 2022, provides obligations for the SAS to evidence: (i) the existence and veracity of the legal domicile; (ii) the request made to have mandatory accounting and corporate books authorized; and (iii) the filing of financial statements corresponding to the fiscal years ending in 2020, 2021 and 2022, if applicable.
Failure to comply with these requirements would result in the Public Registry declaring the SAS as presumably inactive.

The Investigating Authority of the Federal Economic Competition Commission published on 12 October 2022, a notice initiating an investigation, for alleged anticompetitive conduct of horizontal monopolistic practices (or cartel practices) in the market of public procurement procedures for the acquisition, leasing, maintenance services and managed services of information and communication technologies.

On 13 October 2022, Decree No. 682/2022 and Resolution No. 5272/2022 were published in the Official Gazette. With respect to certain transactions covered by the Tax on the Acquisition of Foreign Currency, the Federal Tax Authority added a new Collection Regime at a rate of 25% to the acquisition of foreign currency for certain payments through the Resolution.
By means of the Decree, payments for the (i) acquisition abroad of personal, cultural and recreational services (not including education), in accordance with the Central Bank of Argentina regulations, and (ii) the import of goods listed as “sumptuous” are also levied by the Tax at a rate of 30%.

By means of Joint General Resolution 5271/2022 of the Argentine Tax Authority and the Trade Secretariat published on 11 October 2022: (i) the Import System of the Argentine Republic and the Import System of the Argentine Republic and Payment of Services Abroad systems were implemented; (ii) the Import Information and Monitoring System and the Integral System for Monitoring Foreign Payments of Services were terminated; and (iii) the Single Current Account for Foreign Trade was created.

By means of Decree 679/2022, dated 10 June 2022, the Executive Power created the Promotion of Investments for Exports of Knowledge Economy Activities Regime, and incorporated benefits for those registered in the National Registry of Beneficiaries of the Promotion of the Knowledge Economy Regime provided by Law 27,506.

Argentina has passed Resolutions AFIP 16/2022 and 19/2022 to create a “Vaca Muerta” customs corridor. The purpose of these resolutions is to accelerate the customs clearance process for imports of goods to be used in the construction of the “Gasoducto Presidente Néstor Kirchner” gas pipeline as well as in the development and exploitation of the Vaca Muerta oilfield. Once the resolutions are implemented, they will substantially reduce the amount of time it takes to import covered goods.