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Argentina reduces payment term for imports
On 17 October 2024, the Argentine Central Bank (BCRA) issued Communication "A" 8118, which establishes that access to the Foreign Exchange Market for the purpose of deferred payment for imports of goods officialized as from 21 October 2024 may be made as from 30 days after the imports are officialized. (Previously, 50% was to be paid after 30 days and the remaining 50% paid after 60 days.)
This new provision applies to all goods — except petroleum oils, petroleum gases and other gaseous hydrocarbons, electric energy, among others — for which import costs may be paid through the Foreign Exchange Market from the date of the customs entry registration of the goods.
Reducing the payment term should enable entities to send payments for imports abroad in a more timely fashion.
For additional information concerning this Alert, please contact: Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
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Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert. |