The Central Bank of the Argentine Republic decided on Tuesday (23.07.2024) to make a series of flexibilities in the regulations to access the foreign exchange market, according to a statement released.
The monetary authority said it has decided to take “a new step in the process of removing and relaxing regulations on access to the foreign exchange market, which ultimately aims to completely eliminate restrictions.”
The BCRA Board of Directors has shortened the deadlines for companies to access the Free Exchange Market (MLC) to pay for imports, and has also increased the amount that service exporters are not required to settle in the MLC.
In detail:
- Easier payment terms for imports
Beginning August 1th, XNUMX Luxury goods and finished cars will have a period of access to the MLC starting 90 days after the registration of their customs entry.
The rest of the products are paid with a 4-installment scheme and will have access to the MLC to be paid in two installments, one after 30 days and the second after 60 days of customs entry, for 50% each.
- Increase in the amount not required to be settled for the export of services
The amount exempt from the settlement of exports of services by resident individuals is extended.
The adaptation allows charging up to $24.000 per calendar year in their local dollar accounts, without obligation to settle them in the MLC.
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