After 23 years without modifications, the Federal Public Revenue Administration (AFIP) made a regulatory change for the transfer of money to and from Argentina in order to “update the procedure for the import and export of national and foreign currencies“by the banks and exchange houses”, which are those regulated by the Superintendency of Financial Entities (SEFYC) and Exchange Agencies of the Central Bank (BCRA).
As explained to Scope he tax accountant Daniel DubinFrom now on, “passengers who want to carry more than US$10,000 They have to continue doing it through the financial system, but now They do not require prior authorization from the BCRA“.
“Tends to eliminate regulations that are more than 40 years old and, consequently, to simplify the process,” said a voice close to AFIP.
Money transfer: what AFIP established until now
It should be remembered that the Resolution 4,627 of the National Customs Administration (ANA) of November 5, 1980 and its amendments regulated the export operations of Argentine and/or foreign banknotes, good delivery gold and gold coins, as well as newspapers, skins of various felines and cotton yarn and wool tops.
In December 2001, Decree 1,570 prohibited the export of foreign banknotes and coins and precious coined metals.unless it was carried out through entities subject to the aforementioned superintendence or were for amounts less than US$10,000 or its equivalent in other currencies, at the selling exchange rate of the Banco de la Nación Argentina (BNA). And now, a new change is coming in that sense.
“By virtue of the time that has passed since the issuance of the aforementioned regulations and the experience gathered, it is necessary to update the procedure for the import and export of national and foreign currencies and other values carried out by the entities subject to the Superintendency of Financial and Exchange Entities” , prays the General Resolution 5566/2024 of AFIP that was published this Monday in the Official Gazette.
What the new regulations establish
The import and export of national and foreign banknotes and coins, gold of good delivery, gold coins, checks, bonds, public and private securities, shares, debentures and similar, carried out by entities subject to the Superintendence of Financial and Exchange Entities and in accordance with the provisions of the Central Bank of the Argentine Republicwill process according to the procedure set forth in the Annex to the issued standard.
In this sense, the new regulations establish that “the verification, if applicable, will be carried out in the place determined by the financial entity, which must be informed in the cargo notice. If it is considered necessary, the customs service may require the collaboration of an official of the Central Bank of the Argentine Republic or an official bank so that, jointly, they proceed to the verification and intervene the pertinent documentation”.
Meanwhile, In the case of an export, companies must transport the goods to the boarding area with due advance notice so that, if a new verification is arranged in the primary area, it does not hinder the placing on board of the goods to be exported.
“What the rule refers to is the bills or coins that were already in circulation at the time.“, that is, it does not refer to those that have been printed and that do not have the approval for circulation that the BCRA must give in advance of them going on the market,” explains a source. This discourages rumors that may arise about the importation. of banknotes to put into circulation or the entry of apocryphal money.
Source: Ambito
