Currently, professionals who export services charge through Argentine bank accounts, but are required to settle the dollars in the official market. These funds are then pesified at the official wholesale buyer exchange rate, which yesterday stood at $119.83. In contrast, the dollar that retailers can access trades with gaps that range between 72% and 75% (the solidarity dollar reached $206.25 and the MEP $209.50). This difference causes, according to the Government’s reading, two negative effects: the collection of these services through alternative mechanisms outside the national circuit, especially virtual wallets; and complications for these people due to the impossibility of declaring income and justifying expenses in line with what they charge. “It is an initiative that seeks to partially adapt the general regulations to the idiosyncrasies of the sector,” a source confided to Ámbito.
With this new regulation, small exporters of professional services will be able to charge in dollars in their Argentine bank accounts and will not have the obligation to liquidate foreign currency, that is, they will be able to leave their dollars in their accounts without any restrictions. This will imply that they can hoard in that currency or sell in the financial market through operations with the MEP dollar, a more convenient exchange rate. The operation with financial dollars is relatively simple and can be done through home banking or any ALyC. The collection limit, a source confided to this newspaper, will be around $1,000 per month, which at the MEP exchange rate would mean a monthly income of $200,000.
In the case of large companies, the modification is similar to that promoted in other sectors in which the Government seeks to stimulate an increase in exports. That was the case, for example, of the decree specifically aimed at oil companies, which allows companies to access an amount equivalent to 20% of their incremental oil exports. Although the percentage for service exporters has not yet been defined, specifically this would allow firms to use part of those dollars to pay salaries in a sector in which the international labor market is very competitive, especially for Argentine professionals. who live in the country and make all their expenses in pesos.
The modification of the exchange regime for small exporters has been under study since October of last year. It even had a treatment date in the BCRA directory, but a complaint from the large companies that carry out their activities in Argentina and need to employ labor in the country blocked the exit from the regulations. Over the past few months, various national officials have sought alternative solutions and have come up with this combo of modifications in two ways: one that benefits small professionals and, at the same time, does not negatively affect the knowledge economy sector with dollarization full salary.
According to a study by Argencon, the chamber that brings together the large knowledge economy companies, the country “loses” around US$2 billion annually in exports of “blue” services by freelancers. According to Ámbito journalist Florencia Barragán, it is estimated that around 200,000 people work in the industry without being registered, which could begin to be solved with this new regulation.
Source: Ambito
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