{"id":11211,"date":"2023-12-13T17:59:25","date_gmt":"2023-12-13T20:59:25","guid":{"rendered":"https:\/\/allende.com\/administrative\/new-economic-measures-sanctioned-by-the-government-and-the-central-bank-of-the-republic-of-argentina-12-13-2023\/"},"modified":"2025-05-21T13:06:48","modified_gmt":"2025-05-21T16:06:48","slug":"the-centra-bank-of-argentina-set-forth-new-conditions-for-the-payment-of-imports-and-services-abroad","status":"publish","type":"post","link":"https:\/\/allende.com\/en\/argentine-reform\/fx-and-central-bank-regulations\/the-centra-bank-of-argentina-set-forth-new-conditions-for-the-payment-of-imports-and-services-abroad-12-13-2023\/","title":{"rendered":"The Central Bank of Argentina set forth new conditions for the payment of imports and services abroad"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In addition, through the Official Gazette, new terms regarding the Export Increase Program and the applicable rates of the Tax for an Inclusive and Solidary Argentina (PAIS) were communicated. Below please find the details of the measures: <\/span><\/p>\n<p style=\"text-align: justify;\"><b>Communiqu\u00e9 \u201cA\u201d 7917<\/b><\/p>\n<ol>\n<li><b>Imports of Goods:<\/b><\/li>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Starting from 13.12.23, approved SIRA will no longer be neccesary to access the MULC.<\/span><\/li>\n<li style=\"text-align: justify;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Financial entities may grant access &#8211; without prior approval from the BCRA &#8211; to process deferred payments for new imports with customs entry registration, following the schedule outlined below for the specified goods:<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">From their entry registration: petroleum oils, gases, electric power.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Within 30 calendar days from entry: pharmaceutical products and\/or inputs for local production, fertilizers and\/or phytosanitary products for local production, whose positions are in section 12.3 of the External Trade and Exchange T.O.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Within 180 calendar days from entry: finished automobiles and positions in section 12.2 of the External Trade and Exchange T.O.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">For other imports of goods, the payment of their value can be made within the following periods counted from their customs entry:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">25% within 30 (thirty) calendar days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An additional 25% within 60 (sixty) calendar days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Another additional 25% within 90 (ninety) calendar days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The remaining 25% within 120 (one hundred twenty) calendar days.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Access to the MULC for payments with pending customs registration will require prior approval from the BCRA, except when, in addition to other applicable requirements, the payment falls under the situations provided in point 3 of the Communiqu\u00e9.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Access to the MULC for payments with registration until 12.12.23 requires prior approval except when:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The payment corresponds to operations financed or guaranteed by local or foreign financial entities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The payment corresponds to operations financed or guaranteed by international organizations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer has, equivalent to the amount to be paid, certification for access to foreign exchange regimes for the incremental production of oil and\/or natural gas.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">All operations must also be validated, at the time of granting access to the MULC, in the online system implemented by the BCRA.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The BCRA will implement a specific section of the online system for operations in points 1.2. and 1.3 of the Communiqu\u00e9.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Financial entities may also grant access to the customer until its implementation, but they must complete the validation of that section for those payments within 10 business days after it starts operating. In case an operation carried out between 13.12.23 and the date of system implementation is subsequently rejected by the system, the entity must make the corresponding report to the BCRA.<\/span><\/p>\n<p><b> 2.<\/b><b>Imports of Services:<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">It will not be necessary to have an approved SIRASE starting from 13.12.23. Financial entities may grant access to the MULC to process payments for service imports to the extent that the payment corresponds to:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Concepts S03, S06, S23, S25, S26, S27, S29.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expenses of financial entities in regular operations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Operations under concept S30 (FREIGHT)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Operations falling under concept S24 (other cultural, personal, and recreational services), and payment is made starting 90 calendar days from the date of provision.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Service not covered previously, provided by an unrelated party to the resident, and realized after 30 days from the provision.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Service not covered previously, provided by a related party, starting 180 calendar days from the date of provision.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"text-align: justify;\">Financial entities may grant access to the MULC without the need for prior approval from the BCRA to process payments for new service imports starting from 13.12.23 before the regulatory deadlines when, additionally, the customer accesses with import financing, credit line from abroad, simultaneously with the settlement of advances or prefinancing of exports.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Payments for services accrued until 12.12.23 require prior approval from the BCRA, except when:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">applies to operations financed or guaranteed by local or foreign Financial Entities;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">applies to operations financed or guaranteed by International Organizations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer has certain certifications detailed in the Communiqu\u00e9.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">All operations must also be validated through the system to be implemented by the BCRA at the time of granting access to the MULC.<\/span><\/p>\n<p><b>3.Payments with pending customs entry record<\/b><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To process this type of payment before the deadlines provided in point 1 for imports of goods, the following situations must be considered:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer accesses the MULC with funds originating from an import financing granted by a local financial entity, based on a credit line from abroad, to the extent that:<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">a) The maturity dates are compatible with point 1.2. of the Communiqu\u00e9:<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">a1) If the granting of the financing is prior to the arrival date of the goods in the country, the deadlines in 1.2. will be calculated from the estimated arrival date plus 15 consecutive days.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">a2) If the granting of the financing is after the arrival of the goods in the country but before their customs entry registration, the deadlines in 1.2. are calculated from the granting date + 15 days.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">a3) If the granting of the financing is after the date of entry registration of the goods, the deadlines in 1.2. are calculated from that registration date.<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">b) When the operation falls under A1 or A2, the bank must have a sworn statement (DDJJ) in which the importer commits to completing the entry of the goods within 15 consecutive days of their arrival in the country.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer accesses the MULC simultaneously with the settlement of advances or prefinancing granted by local financial entities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The customer accesses the MULC simultaneously with the settlement of funds originating from financial indebtedness abroad.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a payment for goods imports framed in the mechanism provided in point 7.11 of the &#8216;Exterior and Changes&#8217; regulations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payment for capital goods imports (BK) from commercial debts for the import of goods as provided in point 10.2.4 of the External Trade and Exchange T.O. before the deadlines specified for goods imports (1.2 of the Communiqu\u00e9).<\/span><\/li>\n<\/ol>\n<p><b>Exporter Increase Program<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The equivalent value of exports of services and goods must be brought into the country in foreign currency, with 80% through direct currency transactions and 20% through buying and selling operations with negotiable securities (CCL).<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Impuesto PAIS<\/b><\/p>\n<p style=\"text-align: justify;\">Through Decree 29\/2023, partial modifications were made to Regulatory Decree 99\/2019, which regulates Law No. 27,541 on Social Solidarity and Productive Reactivation in the Framework of Public Emergency. The decree introduced a new rate of 17.5% (previously set at 7.5%) for the general importation of goods, including exceptions for certain goods, such as those related to energy generation.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Likewise, the referred decree also increased the rate to 17.5% for the acquisition of transportation services associated with foreign trade.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The new rates will be applicable for all transactions carried out as from 12.13.2023.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Furthermore, through General Resolution 5464\/2023 of the Federal Public Revenue Administration, the existing rates for advance payments of the PAIS Tax were increased. These rates will be 16.625% for the general importation of goods (previously set at 7.125%).<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Credit Card Taxes<\/b><\/p>\n<p style=\"text-align: justify;\">Through General Resolution 5463\/2023 of the Federal Public Revenue Administration, the perception system on account of Income Tax and Personal Property Tax applicable to some of the operations covered by the PAIS Tax was modified, particularly those involving the purchase or acquisition of foreign currency.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">With the changes introduced by the aforementioned general resolution, the amount of the perception has been unified and reduced to 30% as of the effective date of the resolution.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The perceptions applied will be considered as paid taxes and can be offset in the annual income tax return or, as the case may be, in the Personal Property Tax return for the fiscal period in which they were applied.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 13, 2023, the Central Bank of the Republic of Argentina (&#8220;BCRA&#8221;) approved Communiqu\u00e9 &#8220;A&#8221; 7917 (&#8220;Communiqu\u00e9&#8221;), which modifies the current conditions for residents&#8217; access to foreign currency through the FX Market (\u201cMULC\u201d).<\/p>\n","protected":false},"author":1,"featured_media":11208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[97,49,104,60,100],"tags":[],"class_list":["post-11211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-argentine-reform","category-banking","category-fx-and-central-bank-regulations","category-tax","category-tax-measures-and-moratorium"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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