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Milei proposes 15% corporate tax rate for large AI projects in Argentina
The proposed tax cut and light regulation aim to attract data center investment to Patagonia, a move that could shape where technology firms build AI infrastructure.
What happened
Argentine President Javier Milei is proposing to cut the corporate tax rate from 25% to 15% for projects in artificial intelligence and other promising sectors if investment amounts to at least $1 billion. ua.news The government is seeking to attract technology companies to build data centers, including in Patagonia. ua.news Milei has said that Argentina will not regulate artificial intelligence and has proposed allowing the creation of non-human companies run entirely by AI agents. ua.news
Around it
Milei is promoting Argentina to technology corporations as a country with less bureaucracy, lower taxes and vast expanses of the Patagonian steppe. ua.news Patagonia offers open plains far from major population centers, a cool climate for cooling servers, strong winds for generating electricity, and large shale gas reserves in Vaca Muerta. ua.news+1 Polish company Green Capital plans to build a $3 billion data center in Patagonia, and a 500MW letter of intent has been linked to OpenAI under the Stargate Argentina name. ua.news+1 The tax incentive is awaiting approval in the Argentine Senate. explainx.ai
What comes next
The tax incentive proposal is awaiting consideration by the Argentine Senate. explainx.ai
Sources
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