Retentions: Arca detailed the requirements that agro -exporters must meet to liquidate the currencies

If a breach is detected, the exporter will be notified electronically and will have 48 hours to regularize the situationeither justifying the liquidation of currencies or paying the difference in tax.

In case of not complyingCustoms will generate tax settlement and the exporter will lose access to the tariff benefit until it regularizes the situation.

Exporters must submit an affidavit on the operations of sale of negotiable securities through the “Muela” procedure in the Customs Procedures Computer System (SITA). The resolution enters into force after publication in the Official Gazette.

The dollars, the dollars

“What the Government is looking for this is an advance of foreign exchange. There is no formal order, but what they do is generate the mechanism for that to happen ”he explained weight entrepreneur in the export sector to scope.

The focus is put on the credit in dollarswhich is the means that allowed the Central Bank to accumulate reservations after the success of the money laundering. Exporters take credit credits at low rates and as current regulations force them to liquidate them against pesos in the change market, the monetary entity adds purchases.

It is there where The temporal reduction of retentions played a fundamental role So that, despite the decline of fees, exporters see with good eyes the idea of ​​advancing currency liquidation.

The “Trade” offered by the Government

For The head of the consultant PXQ Emmanuel Álvarez Agis “The government is not offering an improvement in soy production conditions, He is offering a trade to exporters”

He explained it as follows: “When the saver is doing Carry Trade, in general the export sector is bringing dollars and when the saver is buying dollars, the export sector is being financed in pesos.”

In that sense, he assured: “If the exporter does not like these prices today can get a loan in pesos in the bank and pay a rate of 35%, but its product will value the same as the crawling PEG, 13% or 15 %, on the contrary If you sell dollars, you go to pesos and with those pesos it makes a deposit, you will win the Carry Trade “.

The former Minister of Economy framed the temporary decline of retentions in that operation: “Now above this they offer you a temporary decline of retentions that will improve that account by 20%”he concluded.

Exporters make numbers and wait for the small print. The expectation is that in the next few days the liquidation of currencies is accelerated, especially for the remaining grain stock of the previous campaign. There are still some doubts that it will happen with the produced of the coming campaign.