Resolution 63/2023 – New filing thresholds and fines for 2023 | Antitrust - Fair Trade

Resolution 63/2023 of the Secretariat of Trade, published on February 7, 2023 in the Official Gazette and effective as of February 8, 2023, modified the value of the adjustable unit ("AU") defined in Section 85 of the Antitrust Law No. 27,442 (the "Law").

The AU is used to calculate a series of thresholds established in the Law. It is particularly relevant to determine if a transaction is subject to mandatory notification or not.

Resolution 63/2023 updated the value of the AU to ARS 162.55.

As a result, at present economic concentrations are notifiable if the turnover in Argentina of the acquiring group and the target company in the last fiscal year exceeds ARS 16,255,000,000. On the other hand, the exemption from notification under Section 11 of the Law (de minimis) will be applicable when the amount of the transaction and the value of the assets located in Argentina that are absorbed, acquired, transferred or controlled do not exceed each of them the amount of ARS 3,251,000,000 to the extent that no transactions have been carried out in the last 12 months in excess of such value, or ARS 9,753,000,000 in the last 36 months.

In addition, the ceiling of fines for prohibited conducts when it is not possible to determine the turnover of the companies involved (section 55 of the Law) is currently up to $ 32,510,000,000.

Finally, the increase in the value of the AU also increases the amount of fines under the fair trade regime approved by the Decree of Necessity and Urgency No. 274/2019 (section 57) to ARS 1,625,500,000.

To see the Resolution click here.

Should you need further information, do not hesitate to contact Marcelo den Toom and Godofredo Ortiz.