By means of Communiqué “A” 7542, the Central Bank of Argentina (the “Central Bank”) introduced certain clarifications and corrections to the restrictions established on June 27th, 2022, by means of Communiqué “A” 7532 in relation to the payments of imports of goods and services to non-residents. Below we share a summary of the most relevant points of Communiqué “A” 7542:
Temporary imports of supplies under the Factory Customs Regime (Régimen de Aduana en Factoría) – (RAF). The access to the foreign exchange market (“FX Market”) becomes more flexible for payments associated with temporary imports of supplies to be processed and re-exported. In this sense, the importer must be adhered to the Factory Customs Regime (the “FCR “) and the goods that may be included under this regime are raw materials, parts, components, auxiliary materials, containers and packaging and protection material that are directly used in the production and/or transformation process of goods to be subsequently exported or imported for consumption.
The operations carried out under the FCR will not be included in the calculation of the FOB value in 2020 or 2021 for the determination of the annual limit for SIMI A or C.
Likewise, payments of imports done under the FCR are exempted from complying with the affidavit of point 2.1. of Communiqué “A” 7532.
Complementary provisions.
(i) For the calculation of the computable amount of the FOB value of imported goods in 2021 greater than USD 1,000,000 and less than USD 1,150,000, the annual limit for SIMI A shall be the greater amount between USD 1,150. 000 and the amount resulting from the calculation of the quota for SIMI A (the lesser amount between (i) the FOB value of the imports of the year 2021 plus 5 (five) % of such value and (ii) the FOB value of the imports of the year 2020 plus 70 (seventy) % of such value). (ii) For the payment of imports with category SIMI B or C, the term for the access to the FX Market is reduced to 60 (sixty) days when the goods imported correspond to fertilizers and/or phytosanitary products and/or inputs to be used for the local processing of phytosanitary products.
(iii) When (i) the import has a SIMI B or C associated, and the client accesses the FX Market with funds liquidated as advances or pre-financing of exports from abroad or pre-financing of exports granted by local financial entities with funding in foreign credit lines; and (ii) to the extent that the goods imported correspond to fertilizers and/or phytosanitary products and/or supplies for the preparation of phytosanitary products, the maturity date of the financing must be equal to or greater than 60 (sixty) calendar days as from the entering and settling through the FX Market of the advance or pre-financing. (iv) The payments done for an import under a SIMI C up to the equivalent of the proportional part of the annual limit for this category, which has been accrued up to and including the current month, are exempted from complying with the affidavit of point 2.1. of Communiqué “A” 7532.
Services rendered by non-residents.
The following points are incorporated as a condition for the payment of import of services to non-residents through the FX Market:
- a) Payments done by the entities to meet their operational needs.
- b) Payments done by local agents that collect in the country the funds paid by residents to non-resident providers of digital services detailed in Section A and/or Section B of AFIP General Resolution No. 4240.
These are exempted from the quota established in Communiqué “A” 7532 for the payment of import ofservices.
This report cannot be considered as legal or any other type of advice from Allende & Brea.
