On November 25, 2021, through Communication “A” 7408, the Central Bank of the Argentine Republic established that, as of December 1, 2021, access to the foreign exchange market will be granted for the payment of capital goods imports, with advance payments of up to 270 days, for amounts up to USD 1,000,000 (one million US dollars), provided that at least 90% of the invoice corresponds to capital goods and the rest are taxes, accessories, or materials related to the capital goods being purchased.
In accordance with the amendments introduced in this Communication, the exception in point 10.11.7 of the “Foreign Exchange” regulations is replaced, indicating that payments may be made with pending customs registration without prior approval from the Central Bank, in accordance with the following conditions:
- These are payments with pending customs registration for capital goods (B12, B20, and B21).
- The intervening bank must have an affidavit stating that the amount pending regularization, for payments made as of December 1, 2021, does not exceed the equivalent of USD 1,000,000 (one million US dollars).
Furthermore, if the amount indicated in the last paragraph is exceeded, it must be verified that (i) the sum of advance payments does not exceed 30% of the total amount of the goods to be imported, and (ii) the sum of advance payments, on demand and commercial debt without customs income records, does not exceed 80% of the total amount of the goods to be imported.
