Argentina eliminates the Economic Financial Capacity analysis for imports

EY
EY Global

Ernst & Young Global Ltd.

23 Jan 2024
Subject Tax Alerts
Categories Customs & Excise taxes, Corporate Tax
Jurisdictions Argentina
  • The Argentine Tax Authorities and the Commerce Secretary issued a joint General Resolution that creates a Statistical System of Imports and a Registry of Commercial Debts.
  • The economic financial capacity is eliminated.
 

On 26 December 2023, General Resolution No. 5466/2023 was published in the Official Gazette, creating the Statistical System of Imports ("Sistema Estadistico de Importaciones"or SEDI in Spanish) and the Registry of Commercial Debt for imports with Foreign Suppliers.

Statistical System of Imports (SEDI)

Importers must use the microsite "Statistical System of Imports" on the Tax Authorities' (AFIP) website to submit in advance a return providing information related to the destinations of the imports for consumption.

This declaration shall be valid for 360 days from the date on which it obtains the "Exit" status.

Once the SEDI return has been filed, the AFIP will analyze, based on the information available in its records, the tax situation of the taxpayer. It should be noted that, initially, the AFIP also analyzed the economic and financial capacity to carry out the transaction, through the "Economic and Financial Capacity System" ("Capacidad Economica Financiera"or CEF in Spanish) established by General Resolution No. 4,294; however, the CEF was eliminated through General Resolution 5,478/2024, so the AFIP no longer uses this analysis as part of its validation.

It is worth mentioning that Import Destinations registered as from 13 December 2023 have a payment schedule established by Communication "A" 7917.

Commercial Debt Registry for Imports with Foreign Suppliers

The Registry of Commercial Debt for Imports of goods and services with Foreign Suppliers was also created under General Resolution No. 5466/2023; parties that have commercial debt for imports of goods and/or services must register and file a return in accordance with the provisions of the resolution.

 

Contact Information

For additional information concerning this Alert, please contact:

Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires
  • Carlos Casanovas | carlos.casanovas@ar.ey.com
  • Gustavo Scravaglieri | gustavo.scravaglieri@ar.ey.com
  • Ariel Becher | ariel.becher@ar.ey.com
  • Sergio Caveggia | sergio.caveggia@ar.ey.com
  • Pablo Baroffio | pablo.baroffio@ar.ey.com
  • Sabrina Maiorano | sabrina.maiorano@ar.ey.com
  • Juan Ignacio Pernin | juan.pernin@ar.ey.com
  • Agustina Paradiso | agustina.p.paradiso@ar.ey.com
Ernst & Young LLP (United States), Latin American Business Center, New York
  • Pablo Wejcman | pablo.wejcman@ey.com
  • Maria Melina Oyhenart | melina.oyhenart.11@ey.com
  • Ana Mingramm | ana.mingramm@ey.com
  • Enrique Perez Grovas | enrique.perezgrovas@ey.com
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
  • Lourdes Libreros | lourdes.libreros@uk.ey.com
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
  • Raul Moreno, Tokyo | raul.moreno@jp.ey.com
  • Luis Coronado, Singapore | luis.coronado@sg.ey.com

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

For a full listing of contacts and email addresses, please click on the Tax News Update: Global Edition (GTNU) version of this Alert.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.