Through Communication “A” 7138, published yesterday and effective as of today -October 16, 2020-the Central Bank (BCRA) introduced new requirements to access the foreign exchange market to settle imports, in order to control the outflow of currencies.
In addition to the current requirements to give access to the exchange market for the payment of imports of goods with pending customs entry registration, you must verify that the importer has the declaration made through the Comprehensive Import Monitoring System (SIMI) in state OUTPUT in relation to the goods involved, in all cases in which said declaration is a requirement for the registration of the application for import destination for consumption.
The same requirement will be applicable for access to the exchange market by local financial entities for the cancellation of letters of credit or guaranteed letters issued or granted as of October 16, 2020.
Thus, from now on, it will be necessary to have Customs approval to access the exchange market; orders to the BCRA cannot be anticipated.
Likewise, the BCRA established that as of November 2, payments for imports of goods with pending customs entry registration will be considered in arrears, made between September 2, 2019 and October 31, 2019. Importers Those who register this type of operations in a situation of delay will not be able to make new advance payments for imports of goods until they regularize the situation.
Finally, the information regime of “Advance of exchange operations” foreseen was expanded; The advance must be reported for the operations to be completed as of October 16, 2020 when the expenses operations involved imply access to the exchange market for a daily amount equal to or greater than the equivalent of USD 50,000.