The Central Bank modified the presentation of the purchase orders of those companies that were exempt by presenting an affidavit
By Emiliano Galli
12/05/2023 – 21,15hs
The Central Bank of the Argentine Republic intervened again in the exchange regulations to modify the terms after which the companies that were exempt from the procedures that until now affected the majority of imports become part of the general regime.
Until now, there was a universe of products – from the health industry, pharmaceuticals, those affected by the fight against Covid 19 and even capital goods – that presented an affidavit reporting their exception.
But the limitations and eventual extensions in the terms for payment abroad are not limited only to those basic supplies of the Covid, medical products and medicines or supplies of the pharmaceutical industry.
This is established in the new communication A 7766 of the Central Bank, dated Thursday, May 11, which explains in point 1 that “in order to give access to the exchange market within the framework of the provisions of points 8.1. to 8.6. of Communication ‘A’ 7622 and complementary, to process payments with pending customs entry registration for operations supported by SIRA declarations made official as of May 12, the entities must additionally verify that the corresponding SIRA declaration in ‘OUTPUT’ status is has been assigned a term of 0 (zero) calendar days”.
An exploration of the details of the exceptions to which it refers (points 8.1 to 8.6 of communication “A” 7622) allows us to see that in addition to the health industry, products derived from petroleum and inputs for the production of fuels.
In the paroxysm of the norm, the impact even reaches construction materials used in public works, such as the necessary and promoted Gasoducto Néstor Kirchner.
The Government steps on every dollar it can, stretching the deadlines to the maximum
Zero days to access the market and cancel the merchandise
While before the norm the presentation of a sworn declaration justifying the exception enabled them to automatically enter the exchange market -even when the regulations established that the product had to wait between 60 and 90 days- now it must specifically say “0 (zero) days” the SIRA.
“Now those SIRAs have to say 0 (zero) days to be able to close an exchange. That meant that not a single payment for this type of merchandise has come out,” an exchange market operator explained to iProfessional.
“What until yesterday were exceptions, today they are paid on the date established by the Secretary of Commerce, like any other load,” they confirmed from the Chamber of Importers.
If the response given by the organism is “0 (zero) days”, means that the company can access the market and cancel the merchandise at any time, even before customs clearance (nationalization or entry of the product). On the other hand, if they say 30, 60, 90 or 120 days, you have to wait for that period -from customs clearance- for the transfer.
That is to say, since an order is placed abroad, and that company begins to manufacture it (with the time it takes, but in capital goods it can be several months), it ships it, sails and arrives in Argentina, just there may have to take another 60 to 90 days to remit paymentaccording to a “drip” criterion of the Ministry of Commerce.
In a new confession of discretion that will mark the payment terms for products that were “excepted”the Government steps on every dollar it can, stretching the deadlines to the maximum.
