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Argentina Provides Further Extension of Incentives Regime for Production and Use of Biofuels — Orbitax Tax News & Alerts

Argentina has published Decree 456/2021 of 12 July 2021, which provides a further extension of the validity of the Promotion Regime for the Sustainable Production and Use of Biofuels established by Law No. 26,093 of 12 May 2006, until 27 August 2021 or until a new "Biofuel Regulatory Framework" enters into force, whichever happens first. The regime, which originally applied for a period of 15 years (i.e., until 12 May 2021), provides various incentives for biofuel producers in Argentina, including the refund of VAT related to approved investment projects, accelerated depreciation, and fuel tax exemptions. The regime was previously extended to 12 July 2021 by Decree 322/2021 of 8 May 2021.