Through Decree 194/2023 (“Regulation”), the National Executive reestablished, on a transitory basis, until 05/30/2023, the Export Increase Program (“Program”) for those subjects that have exported in the immediately preceding 18 (eighteen) months, and are grain producers and/or operators in their commercialization of soybean, soybean oils and by-products.
Subject to the application and regulation of the Central Bank of the Argentine Republic (“BCRA”), a preferential exchange rate of AR$300 (three hundred Argentine pesos) per U.S. dollar is established for the sale of the goods to whoever exports them directly or as a result of a productive process carried out in the country.
Subjects’ participation to the Program shall be made through the “Sistema Registral” service, available at the website of the Federal Administration of Public Revenues, selecting in the option “Características y Registros Especiales” the characterization “PROGRAMA DE INCREMENTO EXPORTADOR”, or through the mechanisms established by such tax agency.
In addition, the BCRA establishes that the “Cuentas especiales para titulares con actividad agrícola” must be used for customers residing in the country engaged in such activity who sell goods within the framework of this Regulation, to deposit the net amount in pesos received for such sales.
Furthermore, a Chapter II (“Chapter”) was added to expand the scope of the Program to Regional Economies, adding an Annex II to the Regulation with assets incorporated according to the subjects covered by the eligibility requirements established for the Chapter.
This report cannot be considered as legal or any other type of advice from Allende & Brea.
