The Federal Public Revenue Administration has adapted the regulatory framework so that it is no longer necessary for the Central Bank to notify whether foreign currency for exports has been settled.
In General Resolution 4212, the AFIP eliminated the need to enter and liquidate foreign currency to receive export benefits.
According to the rule, “the continuation of the process of collecting such benefit was subject to the Central Bank reporting the liquidation” of foreign currency to the AFIP.
The tax authority has now decided to readjust the regulations "after the BCRA adjusted the exchange rate reporting regimes in the understanding that its obligation to submit, among others, data corresponding to the settlement of export currencies had ceased."
He argues that "it would no longer be necessary to condition the lifting of the blockages (on profits) on the communication of the settlement of foreign currency by the BCRA, since the current set of regulations applicable to the procedure for the payment of profits has eliminated the obligation of their settlement as well as the computer systems through which compliance was reported."
To this end, the paragraph stating that "where applicable, the Central Bank has informed this Federal Administration of its conformity regarding the exporter's compliance with its obligations related to the settlement of foreign currency, in accordance with the provisions of current regulations" is eliminated.
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