Ley 25.429

The exemptions or the consolidation of rights and duties shall extend to sparedand accesories needed for the star-up and development of the correspondingactivity, and shall be subject to be respective destination certification, which mustcorrespond to the project which generated said requirements.Capital assets, spared, accesories and materials brought into the country underthe provisions stipuled above may only be confiscated, transferred or removedfromn the activity which is the object of the permit once the cycle of the activitynot included in Chapter III, the rights, taxes and duties which may correspond atthat time shall have to be paid.The Application Authority shall establish the practices which guarantee thefulfillment of the provisions hereof.CHAPTER VIROYALTIESARTICLE 22: The Provinces which adhere to the provisions of this law, andwhich collect royalties, until the right of said principle is definitively resolved, maynot collect royalties over and above three porcent (3%) on the “mine-head” valueof the mineral extracted.***Comment. In order to determine which percentage of royalties that provinces adhered to the presentregime are entitled to cash, international existing, competitive levels in this kactivity are to beconsidered. As a result, an adequate, international mean on extracted material has been reached at.CHAPTER VIIPRESERVATION OFTHE ENVIRONMENTARTICLE 23: In orden to avoid and correct the alterations suffered by theenvironment due to mining activity, companies may establish especial provisionsto that effect. The annual amount shall be left to the criterion of the company, butshall be considered deductible from the determination of income ax, up to a sumequivalent to 5% of the operational extractional and benefit costs.The above provision, in its unused amounts, musto be returned to be thetreasury whem productive cycle has been completed.***Comment. The facto or forcing companies registered within the present regime to institute provisionsas per the present Article, is aimed at avoiding that further demands referred to environmentalconservation problems be considered as a restrictive transgression to the principle of fiscal stability thepresent Law institutes.CHAPTER VIIIAUTHORITY OF APPLICATIONARTICLE 24: The Authority of this law and its regulations shall be the specificcompetent institution in the State National Sector as regards mining, to bedetermined by the National Executive Branch.The Authority of Application may extend terms and accept modifications in theaffidavit without any requirement other than a bried explanation of the reasonstherefor.As regards the application of this law, the Nacional Executive Branch shalldetermine, together with the provincial authorities, the exercise of the concurrentconstitutional faculties.30