Alert License Requirement for Sales into Argentina
Effective earlier this year, all Argentinian importers must fill out a Sworn Affidavit of Intention to Import (Declaracion Jurada de Importacion, or “DJAI”) with the Argentine Tax and Customs Authority. The authorities determine if the goods can also be purchased in Argentina. If the goods cannot be acquired in Argentina, a permission “to import” could be granted to the importer. This new requirement is an attempt by the federal government to protect the local market, and to prevent currency export.
If you are exporting into Argentina, it is now important to confirm that your customer in Argentina has received the DJIA, and that they have obtained permission to purchase foreign exchange to pay for the imported goods.
The creation of the DJIA system also impacts the procedure for importers to buy currency to pay for imports in advance. The Central Bank will only transfer foreign currency when a DJIA and “proofs of import” have been approved by the relevant agencies. In case of prepayment, this is not possible – there are ways for importers to receive approvals, but these are complicated and time consuming.
While WTO members, the US, and the EU have expressed their concerns about these trade-restrictive measures, Argentina appears committed to enforcing them. Additionally, given the fluid nature of these measures, exporters into Argentina are advised to check regularly on the latest implementations of import regulations.