Recent news in International Trade in Argentina

The Federal Tax Authority (“AFIP”) published yesterday in the Official Gazette Regulation 3252 (“Regulation 3252”) which created an obligation for importers to provide, prior to issuing the Purchase Order, Production Order or similar document with its foreign counterparty, the information requested under the “Declaración Jurada Anticipada de Importación (DJAI)” (“Prior Import Statement”). Such information has not been specified yet.

The information included in the Prior Import Statement will be available to all Agencies which adhere to the system created by Regulation 3252. Regulation 3252 does not specify which Agencies may adhere to Regulation 3252.

Those Agencies which adhere to the system will have to “pronounce” [sic] themselves within the term to be determined in the instrument by which they adhered to the system. The AFIP will communicate to the importer the objections raised by any such Agencies, if any, and the importer will have to present itself to such Agencies to “regularize” such objections

The registration number of the Prior Import Statement will be recorded at the AFIP’s Foreign Exchange Transactions Control System (“FETCS”) established by General Resolution 3210, which has to be consulted by the financial entities when selling foreign currency to clients. Such number will also be required by Customs in order to verify that the import has been validated by the Agencies.

No exceptions to the Prior Import Statement requirement have been established yet.

While Regulation 3252 has not been regulated and its application is unclear, many participants in the market which we have contacted consider that it may result in a discretionary procedure which may subject imports to substantial delays and agency authorizations, in addition to those already in existence.

Regulation 3252 will be effective as from February 1, 2012. However, it will not apply to those imports which, prior to such date, were shipped by land, sea or air with final destination Argentina.

Should you have any doubts or need further clarifications in connection with this regulation please contact Patricia Lopez Aufranc at 54 11 4310 0161 or by mail at pla@marval.com.ar; or Pablo Gayol at 54 11 4310 0261 or at pg@marval.com.ar.