By means of Executive Order No. 787/2022 (“Regulation”), the National Executive Power reestablished, on a transitory basis until December 30, 2022, the Program to Increase Exports (“Program”), for those individuals who have exported any agricultural item in the last 18 (eighteen) months, and who are grain producers and/or operators engaged in the commercialization of soybeans, oils and soybean by-products.
Pursuant to the regulations set forth by the Central Bank of the Argentine Republic (“Banco Central de la República Argentina” – (“BCRA”), a preferential exchange rate of ARS230 (two hundred and thirty Argentine pesos) per U.S. dollar has been established for the sale of such goods, for those individuals who export these goods directly or as a result of a productive process performed within the country.
Individuals must comply with this Program by means of the “Registration System” service, available on the website of the Federal Administration of Public Revenues (Administración Federal de Ingresos Públicos – (“AFIP”), by selecting the option “Characteristics and Special Registers”, then the option “EXPORT INCREMENT PROGRAM”, or through any other mechanism established by such tax agency.
Furthermore, the BCRA indicates that the “Special accounts for holders with agricultural activity” should be used by customers residing in Argentina engaged in such activities and who sell goods within the framework of this Executive Decree, in order to deposit the net amount in Argentine pesos collected for the sale of such goods.
This report cannot be considered as legal advice, or any other type of advice, by Allende & Brea.
