in a nutshell
Communication “A” 7532 (“communication“), the Argentine Central Bank (ACB) has introduced new restrictions on access to the foreign exchange market (“Forex market“) In particular, payments for the importation of goods and payments for the importation of services to unrelated parties.
Key points of communication are:
- Payments for imports in “Exit” status: (i) An additional 20% is excluded for the calculation of SIMI A and C available allocations in each instance. (ii) Payment provisions for non-automatic licenses (LNA) declared as SIMI B or C are suspended until September 30, 2022. However, LNA is calculated to define (inclusive) SIMI A and C limits and their payments. prior to January 1, 2022) to determine available quota.
- Payments for Imports of Consumer Goods and Capital Goods: Until 30 September 2022: (i) Subject to certain exceptions, the payments shall be calculated for the purposes of determining quotas available for payment under SIMI A. shall be (ii) Up to 80% of capital goods can be paid in advance (concept codes B20 and B21), the rest to be paid upon nationalization.
- Payments for importation of services to unaffiliated counterparties subject to SIMPES: A new regime similar to payments for goods will be established. Payments requested and payments made in that year must not exceed the pro rata portion of payments made in 2021 accrued through that month. If it is less than US$50,000, the latter or the annual limit, whichever is lower, will be used. If these conditions are not met, payment can only be made within 180 days of service delivery. service.
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