Argentina: Payments for imports of supplies and goods; management of goods import certification

Reports on payments for imports of goods and the management of goods import certification

Reports on payments for imports of goods and management of goods import certification

Article Posted date 25 July 2022

Entities in Argentina may give customers access to the foreign exchange market to make payments for imports of goods to the extent that—in addition to the other applicable requirements—all of the following conditions are verified:

  • The operation corresponds to the importation of supplies that will be used for the production of goods in the country.
  • The supplies were shipped at origin until 27 June 2022 and have arrived in the Argentine Republic.
  • Access to the foreign exchange market takes place no earlier than the payment date agreed with the supplier of the goods.
  • The operation falls under one of the following situations:
    • The import is associated with a SIMI in "EXIT" status in force, officialized until 3 March 2022.
    • The import is associated with a SIMI category A in force, officialized until 27 June 2022.
    • The import is associated with a SIMI category C in force, officialized until 27 June 2022, and the requirements set forth in point 10.14.2.3 are met.
    • The import is associated with a SIMI category B or C in force, officialized until 27 June 2022, and the goods paid for are subject to non-automatic import licenses.
  • The entity has a sworn statement from the client stating that, including the payment whose course is being requested, the total amount paid by this mechanism, in the entities as a whole, does not exceed the equivalent of $4 million USD. Otherwise, additional franchises are provided with certain requirements.
  • The client has presented an external auditor certification stating that, if the operation is carried out, the stock of supplies or final goods made from them will not exceed the levels required for its normal activity.
  • The entity has a sworn statement from the importer stating that, in the event that their economic group has been summoned to a price agreement by the National Government, they have not refused to participate in such agreements, nor have they breached the agreed in case of having a valid program.

In terms of payments of capital goods with pending customs entry registration, for companies in the energy sector and/or companies that are engaged in the construction of infrastructure works for the aforementioned sector, the current scheme will be applied until the moment of entry into force of Communication "A" 7532.

Management of goods import certification

As reported by the Central Bank of Argentina, as of 21 July 2022, an online system is available for the management of goods import certification in order to carry out the certification associated with the financing of the importation of goods necessary for the production in the country of automobiles and/or auto parts and the export certifications of temporary supplies within the framework of the factory customs regime.

Read a July 2022 report (Spanish) prepared by the KPMG member firm in Argentina

 

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