While Argentines continue to tighten their belts and mass consumption shows no respite, Javier Milei’s government found time to make life easier for large mining companies. Through Decree 482/2026, published this Tuesday in the Official Gazette, the Investment Regime for Mining Activity was modified with two key changes: express VAT refund during exploration and flexibility in environmental obligations.
Specifically, companies that have not yet sold a single gram of mineral can now request that the State refund the VAT they paid on equipment, services, and technical work. Previously, the process was more cumbersome; now, simply by submitting invoices, payment receipts, and a description of the tasks, the accelerated refund is enabled. A bargain for a sector that bills millions, while the rest of us mortals continue to pay the consumption tax every time we buy a kilo of bread.
The contrast could not be starker: according to private measurements, mass consumption has accumulated four consecutive months of decline between January and April. National VAT revenue, which largely depends on that consumption, has been falling for ten consecutive months through May, according to ARCA. This forced the government to cut the 2026 budget, with a record reduction of 2.4 trillion pesos last May to maintain the promised fiscal balance.
But while the adjustment punishes workers, the path is smoothed for miners. The decree also introduces an environmental change that raises dust: now, hiring a Mandatory Environmental Insurance can be considered sufficient to comply with the obligation to prevent and repair damages, provided the competent authority approves it. The government argues it is more effective than the special accounting provision established by the Mining Investment Law, but critics see an open door to deregulation.
For projects not required to hire such insurance, the option of setting up a deductible provision from Income Tax remains in force, with a cap of 5% of operating costs. In all cases, companies must annually certify the validity of the insurance or report the amount of the provision and what was actually deducted.
Additionally, prior authorizations for mining imports were eliminated: now a sworn statement on the destination of the goods suffices. The exemption covers import duties and other taxes, although it does not include VAT. The procedure for obtaining fiscal stability for 30 years was also updated, requiring reporting of substantive changes and expanding the concept of regional integration.
In summary, while the people tighten their belts, the government accelerates VAT refunds for miners. A gesture that, for many, smacks of double standards: adjustment for those below, benefits for those above.
Para mí esto es un choreo a mano armada. Milei le regala el IVA a las mineras mientras el pueblo se caga de hambre con el consumo por el piso. Me parece que son unos vendepatria de mierda, ajuste a los pobres y plata a los ricos. Viva la lucha obrera, carajo!
Para mí esto es VISIÓN carajo! Mientras los zurdos lloran por el IVA, Milei le devuelve guita a las mineras que traen laburo de verdad. El consumo cae por el populismo nefasto, no por esto. Que se jodan los planeros. VIVA LA LIBERTAD!