Argentina to restrict imports; measures would reach slots
Thursday 25 de August 2022 / 09:29
⏱ 1 min read
(Buenos Aires).- Argentinian government will launch three measures that would restrict imports in order to save the meager reserves held by the central bank, an official source told Reuters.
The measures are arranged after it was released on Monday that the July trade balance of the third largest economy in Latin America registered a deficit for the second consecutive month. Exports in the first seven months increased 22.4% compared to the same period in 2021, while imports jumped 44.6%.
"A more oiled triangulation is required between the AFIP (tax collection entity), Customs and Commerce, with measures aimed at ordering imports, taking care of the BCRA (central bank) dollars, and avoiding abuses," said a source who asked not to be identified.
In the first place, the term is reduced for those who import inputs without paying taxes in order to later export a good. This period is reduced from 360 days to 120 with the aim of accelerating exports.
This is the case of soybeans, which have been imported so far for 1,633 million dollars and then exported as oil. On the other hand, companies that import services such as software or consultancies must enter into an advance declaration scheme. In the first semester, Argentina imported services for some 5,000 million dollars.
The Government will also incorporate 34 goods, such as slot machines, yachts, luxury planes and cryptocurrency mining machines, into the non-automatic licensing scheme, which requires prior authorization.
The exchange rate gap of 115% between the official exchange rate, used in foreign trade, and the exchange rates in alternative markets, encourages importers to increase their purchases from abroad, while exporters delay their settlements waiting for further weight loss.
Categoría:Casino
Tags: Sin tags
País: Argentina
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