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Customs adds measures to prevent under-invoicing of exports

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The General Directorate of Customs (DGA) has established the reference value for the export of potatoes, after having done so for onions, powdered milk and raisins, as part of its strategy to combat evasion and abusive maneuvers, the agency reported today.

In General Resolution 4812, the DGA established in 0,15 dollars per kilo the reference value for potatoes not suitable for planting, sold in containers larger than 2,5 kilos and destined for Bolivia, Brazil, Colombia, Chile, Paraguay, Peru, Uruguay or Venezuela.

Thus, any export declared below that price to those countries enables Customs to initiate an investigation., the agency explained as part of the work to reestablish reference values.

These prices are "a tool that allows identifying export under-invoicing operations, an abusive maneuver that aims to fraudulently minimize the tax burden«.

Furthermore, under the current foreign exchange market management scheme, under-invoicing of foreign trade functions as a mechanism to limit the entry of foreign currency into the country, the Customs Office said.

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