Changes to the Large Investment Projects Regime

On December 6, 2024, the Ministry of Economy published in the Official Gazette Resolution 1319/2024, further regulated by Resolution 485/2024 of the Secretariat of Industry and Commerce. Resolution 1319 introduced changes in the application to and compliance with the import regime for goods involved in large investment projects.
 

The main aspects that have been modified are:
 

1. The Import Certificates prior to approval (Certificado de Expediente en Trámite or CET) replaces the former certificate. Now, the applicant will issue the CET and bear any liability related to its use. This document certifies there is an ongoing application process to access the benefits of the large investment project regime, to submit it before Customs, and import goods using the import-duty tax exemption. The importer must set up a guarantee to cover the applicable taxation.
    
2. The term for commissioning the promoted project was reduced from 24 to 12 months, but it is now counted as of the project’s approval and may be extended one time.
    
3. The deadline to incorporate national goods to the project is now one year after the project’s approval.
    
4. The valuation of national goods will be based on the invoice amount (including VAT). Imported goods will be valued according to their FOB value.
    
5. Regarding compliance, the former audit carried out by the authorities was replaced by a self-reporting system. After the one-year deadline for importing the goods—required for commissioning the promoted project—lapses, the applicant has six months to submit a final report on the project. This report must be written by professionals that are not on the applicant’s payroll and must certify:

1. all the goods incorporated in the promoted project,
2. a separate indication of the national goods included,
3. operational status of the goods,
4. project production,
5. commissioning date,
6. photographic evidence,
7. other documentation.

6. These modifications affect ongoing proceedings, except for matters related to commission date and the incorporation of national goods. Applicants may choose to either request the audits and inspections set in prior regulation or to self-report compliance with the regime according to new regulation. In either case, applicants have six months to do so.
    

Finally, the Resolution establishes that proceedings will be processed through the Remote Procedures platform (TAD).