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Being up-to-date with Argentina’s Import Regulations

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					                 Being up-to-date with Argentina’s Import Regulations
Argentina, the second largest country in South America, is a country that has resources rich and self-
sufficient in foodstuffs, power and oil & gas. Argentina has implemented a new trade regulation which
makes it mandatory for companies to declare the amount of goods being imported into the country by
signing an official document beforehand. Effective February 1, 2012, all registered importing companies
are required to fill in the Anticipated Sworn Declaration of Imports (Declaracion Jurada Anticipada de
Importacion - DJAI) application. Importers will also have to provide details about the business
transaction in advance and wait for the national tax agency AFIP (Federal Administration of Public
Income), to issue a permit. Goods that do not possess a valid DJAI authorization number will not be
allowed to enter the country.

Impact of Argentina’s Import Regulations on Foreign Currency Transactions
As Argentina takes steps to tighten its capital outflow, businesses are increasingly concerned about its
impact on foreign currency transactions. Signing contracts with Argentina based companies has become
more complex as such companies require special permissions to send USD and other foreign currency
abroad.

With the move being a part of new measures to attain better control on imports, it is yet to be seen
whether this will be a smooth process or whether it will have unacceptable delays.

Partnering with an expert

In any international expansion, with the large investments involved it is necessary to have good
management skills and a resilient temperament. Before setting up a foreign operation you will need to
be fully aware of the laws of that particular country. Making hurried or uninformed decisions can spell
disaster for your business. Of course, it is no easy task to gain a complete understanding of the laws of
another country, so, to ensure a smooth transition, you need the guidance of a professional who can
help you follow the legal norms and fulfill all compliance regulations

Your company international expansion can be simplified with the help of experts. Having the right
partner is crucial as every country has different regulations for licensing taxes, compliance laws, data
privacy, import and export regulations etc. Planning ahead along with a reliable partner is the key when
doing business in a foreign country. As problems in business can happen at any point, it is important to
have the assistance of a professional, who can give you all the areas of business like , expatriate advice,
international accounting, to name a few.

Read also on: doing business overseas, Regulatory filings

				
DOCUMENT INFO
Description: Argentina has implemented a new trade regulation which makes it mandatory for companies to declare the amount of goods being imported into the country by signing an official document beforehand.