Argentina pushes forward 'Super RIGI' regime granting major tax breaks to large investors

Argentina’s lower house has given its backing to a new "Super RIGI" investment incentive regime, which now moves toward Senate approval. The law will run for five years, with a possible one‑year extension, and will grant participating projects a 30‑year horizon of tax, customs and foreign‑exchange benefits. Corporate income tax for eligible projects is set at 15%, far lower than the standard 35% rate for SMEs, and firms will be exempt from export‑currency repatriation rules and from customs duties on imports from day one. To qualify, projects must commit at least US$1 billion in "frontier‑technology" activities, including critical minerals such as lithium and uranium, green‑hydrogen production, electric‑vehicle supply chains, renewable‑energy equipment and data‑center infrastructure for artificial‑intelligence services. The regime enjoys support from the governing coalition and several provincial blocs, but analysts warn that the benefits mainly favour large multinational players, risk turning the economy into an "enclave" with few local jobs, and could exacerbate existing investment shortfalls.

Critics point to recent declines in domestic investment and stagnant wage growth, arguing that the incentives may divert capital away from sectors that generate broader employment, such as manufacturing and construction. While the government presents the measure as a way to attract cutting‑edge technology and boost exports, opposition voices stress that the tax relief and customs exemptions could undermine state revenues and deepen economic inequality.