Argentina: New exchange rate regime for oil and natural gas companies

The creation of new exchange rate regime for oil and natural gas companies announced.

The creation of new exchange rate regime for oil and natural gas companies announced.

The creation of the Exchange Access Regime for Incremental Oil Production (Régimen de Acceso a Divisas para la Producción Incremental de Petróleo or RADPIP) and the Foreign Exchange Access Regime for the Incremental Production of Natural Gas (Régimen de Acceso a Divisas para la Producción Incremental de Gas Natural or RADPIGN) was announced.

The beneficiaries of the new regimes will have access to the Free Exchange Market (Mercado Libre de Cambios or MLC) to allocate the payment of capital and interest on commercial or financial liabilities abroad, including liabilities with non-resident related companies and/or profits and dividends that correspond to closed and audited balance sheets and/or to the repatriation of direct investments of non-residents, for an amount equivalent to the Benefited Incremental Production Volume (Volumen de Producción Incremental Beneficiado or VPIB) of each beneficiary.

Read a June 2022 report (Spanish) prepared by the KPMG member firm in Argentina

 

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