Since the beginning of August, Argentine foreign trade has been affected by measures that create difficulties when carrying out actions aimed at obtaining the entry of goods that are suitable for production and consumption.
The first was the imposition of the tax For an Inclusive and Solidary Argentina (PAIS) on operations related to the purchase of goods and services abroad (Decree 377/23), a decision that has received different opinions and criticisms; and the second, the reduction of the amount authorized for the purchase of dollars according to the Economic Financial Capacity (CEF) system.
Regarding any disagreement that may arise in CEF, companies have the possibility of making presentations aimed at its review and due establishment, as detailed below.
What is the CEF?
Let us remember that the CEF establishes the dollar purchasing capacity of taxpayers based on a set of data that are evaluated based on the sworn declarations submitted by both individuals and legal entities, and have an impact on being able to enter the previous channel in force for imports, through the Import System of the Argentine Republic (SIRA).
This system is a new tool used by the Federal Public Revenue Administration (AFIP) to assess the economic/financial capacity of taxpayers. To do so, current and submitted tax returns with annual and monthly determination are taken into account.
The system includes a formula that calculates the monthly assessment of the Financial Economic Capacity of each taxpayer, which will be considered representative of their capacity to carry out certain acts or financial operations.
The implementation and application of the CEF is carried out through a process of segmentation and characterization of taxpayers, a calculation that is based on a set of concepts and variables duly reported by the taxpayer himself through the presentation of determinative sworn declarations or by the information agents included in different regimes established by this Agency.
Object
The monthly process carried out on these concepts produces two calculations, one responding to liquidity parameters and the other to solvency parameters. To determine the value to be exposed, the CEF system selects the lowest of both figures.
The data used by the system refer, depending on whether the person or legal entity is involved, to the VAT declarations for the current fiscal period, the last filing of the Income Tax and Personal Property Tax declarations and information provided by third parties in relation to consumption. However, the system will assign a minimum value by default, which may be modified in the future by the Federal Administration.
Concepts for computing
The concepts involved in the calculation, both for individuals and legal entities, are the following:
- Items of the patrimonial composition disclosed in the Income Tax Return.
- Operations included in VAT declarations.
- Assets disclosed in the Personal Property Tax Return.
- Income limit considered for Monotributo.
- Remunerations obtained.
- Remuneration paid to staff.
- Data originating from information regimes provided by third parties, relating to consumption.
- Operations related to Foreign Trade.
Time of computation
The monthly calculation process is carried out from the 26th of each period and takes effect from the first day of the following month. The way to find out about it is by accessing the “Registration System” service with a tax code, option “Procedures”, item “Economic and Financial Capacity”. There you can find out about the assigned valuation and functions of the system.
To be eligible to make the query, the following conditions must be met:
- Have an established Electronic Tax Address.
- Have declared and keep up to date the tax domicile and the addresses of the premises and establishments.
- Have the activity code updated in the “Registration System”.
Request for non-compliance
If the citizen does not agree with the assigned CEF value or considers that it does not reflect the real CEF valuation due to information not included in the sworn declarations, he/she may submit a CEF Non-Compliance request.
To do so, you must express your disagreement through the “Registration System” web service, “Disagreement Request” option.
Once the application has been made, a note must be submitted using the Multinota form F.206 at the office where you are registered, attaching the elements that support the claim and justify the increase in your financial economic capacity. This submission can be made through the “Digital Presentations” web service.
CEF non-compliance procedure
To start the process, you must enter the service with the tax code Registry System, option “Procedures”, then the item “Disagreement request” within the CEF section.
The request must state the reason for the disagreement and the amount by which the CEF value is to be increased.
It is important to remember that in order to do so, you must not have a reprocessing request in progress.
Digital presentations
Once the request for the non-compliance procedure has been made online, the documentation supporting the intended increase and proving its origin must be submitted using the Digital Presentations service with tax code.
This presentation must contain a Multi-Note Form 206/I accompanied by the supporting elements.
Documentation from abroad must be duly certified, legalized or, where appropriate, apostilled by the Argentine representative with jurisdiction in the country of origin. If it is written in a foreign language, it must be accompanied by a certified translation into Spanish by a public translator.
Important: The request for non-compliance applies exclusively in the case of economic events originating in the current fiscal year or in sworn declarations that have not yet expired.
Likewise, you can withdraw from the procedure at any time by entering the Registry System using the Withdraw button, as long as the procedure is not in the "approved or denied" status.
Cwith information from AFIP
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