Communication “A” 5239 issued by the Central Bank of Argentina on 10/28/2011

Communication “A” 5239 established that the entities authorized to make foreign exchange transactions (for instance, banks, foreign exchange offices, etc.), in the event of selling foreign currency, must request information and register, through a computerized system, the amount in pesos of the sale of the foreign currency. In this regard, the Argentine Tax Authority (Administración Federal de Ingresos Públicos or “AFIP”), issued Resolution No. 3210/2011, which implemented the requirements set forth by the Communication “A” 5239. According to such Resolution, the Argentine Tax Authority will assess, on line, the data entered through the computerized system and will issue the corresponding reply in accordance with the information that the Tax Authority has on its data base (the Argentine Tax Authority may indicate that the data entered passed the control and it assigns a number to the transaction or indicate that the data has not passed the control).