Expert in foreign exchange regulations consulted by Customs News explains the new provisions of Decree of Necessity and Urgency (DNU) 549/2023, which were established regarding the Export Promotion Program (PIE).
What are the new provisions of Decree 549/2023?
Luis Demarco, Head of Technical Area Comex, at Banco Santander Argentina
1) «It is expand the benefits for all exporters. This implies that all exporters of goods and services will be able to enter at least 70% in the single and free exchange market (MULC) at 350 pesos and the 30% to be counted with settlement or MEP dollar, which improves the exchange rate in this mix of 530/540 pesos.
2) «Thus, All exporters They will be able to carry out such an operation without being part of the Export Increase Program. From now on, all exporters of goods of all merchandise included in the Common Nomenclature of MERCOSUR (NCM) can opt for this incentive of the improved dollar and all exporters of services.
3) «At least the 70% It may be credited at the exporter's option in the exporter's common account in pesos, in a special account remunerated by the dollar according to Communication "A" 3500 of the BCRA or they may subscribe to LEDIV, which are letters adjustable by the official dollar exchange rate.
4) For the 30% The remaining amount must have an account with a broker, an ALYC (Clearing and Custody Agent) or a stockbroker in order to credit the transaction called cash settlement. If you do not have an account abroad, these dollars can be deposited by exchange or arbitration into a current account in dollars and reverse MEP can be carried out.
5) "These provisions are valid until November 17, 2023, inclusive.
6) «The PEN measure aims to provide pre-financing for exports, advance payment for exports or collection of exports with shipment already made. If the client deposits an advance or pre-financing from abroad, there is no deadline for shipment, unlike previous decrees.»
Activity at risk
However, the specialist warned about an activity at risk. "It has been six days since There is no payment for imports of goods and services abroad. That is to say, the system that allows banks to validate import payment orders before the AFIP 'is down'.
"This is extremely serious, not honoring payments for imports of goods and services in accordance with current exchange regulations," said Demarco.
Decree 549/2023 is available here
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