By means of Communication “A” 7553 (“Rule”), the Central Bank of Argentina (‘BCRA’) incorporates new conditions, in addition to the other requirements, to access the Free and Unique Exchange Market (“MULC”) for payments of imports of goods in transit as of 06.27.2022.
Reached imports: the regulation provides for a special ceiling above the limit set forth in Communication “A” 7532 (proportional to the amount enabled for SIMI category A), to the extent that all the following conditions are met, in addition to the other conditions applicable by the regulation:
(i) The operation corresponds to the importation of inputs that will be used for the production of goods in the country.
(ii) The inputs (i) were shipped at origin up to 27.6.22 and (ii) have arrived in the Argentine Republic (as of the date of payment).
(iii) Access to the foreign exchange market takes place upon maturity of the commercial condition (past due debt).
(iv) In addition to the above conditions, the transaction must fall under one of the following conditions:
a- SIMI with “SALIDA” status in force officialized until 3.3.22.
b- SIMI category A in force officialized (requested) until 27.6. 22, with subsequent obtaining of “SALIDA” status.
c- SIMI category C in force officialized (requested) until 27.6.22 and the requirements already applicable in point 10.14.3 of the “Foreign and Exchange” Ordered Text are complied with.
d- SIMI category B or C in force officialized until 27.6.22 and the goods paid are subject to non-automatic import licenses.
(v) To have a DDJJJ stating that the current payment does not exceed USD 4,000,000 (four million U.S. dollars).
In case of exceeding this amount, a DDJJ must be available indicating: (a) that the amount paid does not exceed, in the aggregate of the entities, the equivalent of USD 20,000,000 (twenty million U.S. dollars); (b) that the amount paid does not exceed, in the aggregate of the entities, the equivalent of USD 20,000,000. 000 (twenty million US dollars); (b) with the operation of the requested payment, no more than 40% of the value of the inputs that are paid on the amount exceeded is paid; (c) commitment not to access the MULC to pay, at least, half of the remaining balance until 90 days after the registration of customs entry of the goods and (d) commitment not to access the MULC to pay the remaining balance until 120 days have elapsed from the date of registration of customs entry of the goods.
(vi) External auditor’s certificate stating that the stock of inputs or final goods produced will not exceed the levels required for its normal activity.
(vii) DDJJ of the importer stating that they have not refused to participate in price agreements by the National Government, or failed to comply in case of having participated.
