Tuesday, June 15, 2021

BCRA - Certification of Increase in Goods Exports in 2021

Dear Industrialists,

As part of the periodic reports that we share from the entity on access to foreign currency, we bring you the following news for exporting companies that meet certain requirements. Through the Com. At 7301, the BCRA incorporates a new point in the specific provisions for expenditures through the exchange market. It is point 3.18. which indicates that clients who have a "certification of increased exports of goods in 2021" will be exempt from the requirementprior approval from the BCRA to access the exchange market in certain operations (payment of profits and dividends, services to related parties, repayment of financial debts to related parties and payment of capital of commercial debts for the importation of goods). To process a "certification of increased exports of goods in 2021", a single local financial entity will be nominated that will be responsible for issuing the corresponding certifications and sending them to the entities through which the client wishes to access the market.
The maximum amount of certifications for the exporter, which will be informed to the entities by the BCRA, will be calculated by considering the lesser of the total increase that arises from the calculation provided in point 3.18.2.1. and the equivalent of 30% of the FOB value of exports eligible for theyear 2020. For more details see the title in the attached report: MAXIMUM CERTIFICATION AMOUNT
The nominated entity may issue a “certification of increased exports of goods in 2021 when all the requirements are verified:

A) FOB value of 2021 deliveries higher than 2020 for that same set of goods shipped throughout 2020.
B) At the time of issuance of the certificate, it must not have unfulfilled permits
C) The client must have official permits in 2020: the exporter must have registered exports of goods in 2020.
D) The amount of the certifications issued, including the one requested to be issued, does not exceed the equivalent in foreign currency of the maximum amount established for the exporter by the provisions of point 3.18.3. 
E) Affidavit of the clientity indicating that exports made by ACCOUNT AND ORDER were not considered
F) DDJJ of the client indicating whether he was summoned to a price agreement and his acceptance if so

In the report you will be able to delve into the debts that can be canceled against the certifications:

• Principal payment of commercial debts for the importation of goods
• Payments for services to related counterparties abroad
• Transmission of profits and dividends to non-resident shareholders
• Cancellation of capital of financial debts abroad when the creditor is a related counterparty
• Maturities of refinanced financial debt

It is important to highlight that, although the Com. A 7301 indicated that on 06/14/21 the issuance of the certifications of increased exports began, that same day, through través de la Com. B 12181, the BCRA indicates that the consultation system planned temporarily will not be enabled given that a review process is being carried out on the calculation of the maximum amount of certifications. Due to the above, the implementation of the matter procedure is delayed until the final implementation of the system is carried out.

In case of questions, please send them by email to mvidal@adimra.org.ar