Increase on the value of fines under Argentine Fair Trade legal framework
By Mariano Peruzzotti, Andrea Sánchez Vicentini and Candela Basilotta
On January 24 of 2024, Resolution SC 48/2024 (“Resolution”) of the Secretariat of Domestic Trade was published in the Official Gazette, which updates the value of the Adjustable Unit (“AU”) used as the monetary coefficient to be applied to the fines stipulated by the Fair Trade regime.
As provided in the Resolution, the new reference value of the AU is Argentine Pesos 506.19 (approximately USD 0.60 at the exchange rate of the date). The value of the AU is updated annually taking as a reference the Consumer Price Index (CPI) published by the National Institute of Statistics and Censuses.
The AU is relevant in terms of Fair Trade since it is the value used for the application of administrative fines. In this sense, Emergency Decree No. 274/2019 (“Decree”) provides that violations of the Fair Trade regime may be sanctioned with a fine in an amount between 1 and 10,000,000 AUs. Consequently, the current range of fines would be between Argentine Pesos 506.19 and 5,061,900,000 (approximately USD 0.60 to 5,990,000 at the exchange rate of the date).
For more information contact: mperuzzotti@ojambf.com, asanchezvicentini@ojambf.com, cbasilotta@ojambf.com
