Pressed by the lack of dollars, the Government added a new control to the imports of services. It is a permit that companies must process before the Secretary of Commerce to be able to pay freight abroad, which can take up to 60 days. The measure has already ignited complaints in the shipping sector and generates uncertainty due to its possible impact on cargo ports.
The Central Bank made it official last Thursday by establishing in communication A 7771 that "entities must require a declaration made through the System of Imports of the Argentine Republic and Payments of Services Abroad (SIRASE) in "APPROVED" status to give access to the exchange market to make payments for services for the aforementioned concept. "
The SIRASE is a permit that was created in October with the tightening of restrictions from the new import system (SIRA). In the case of goods, cross-checks resulted in SIRA permits for deferred payment for 60, 90 and 180 days depending on the size of the importer, with some exceptions (health, pharmaceuticals, energy and capital goods).
Until now, companies were exempt from obtaining a permit for the payment of freight, but with the changes they expect greater discretion. "As businessmen we have to import and we need SIRA, the shipping company also needs the authorized SIRASE to send remittances abroad, before they were turned at 48 hours, now it is complicated," said an importer.
Commerce sources explained that the measure "is born product of a denuncia in customs for overbilling of freight." AFIP and Customs had already put the magnifying glass on Mediterranean Shipping Company for turning 87% more foreign currency in 2022 compared to the previous year. And weeks ago, they warned about the apparent lack of controls on importers, ports and shipping companies.
The restrictions are in addition to those put in place at the end of April to defer payment of $2 billion in services imports. In the midst of the exchange run, the BCRA determined that the payment of freight to related companies (for example, a transfer of remittances from a maritime or aeronautical company to its parent company) will be finalized 000 days after the provision of the service.
In response, the Navigation Center – which groups the main maritime companies – sent a letter to the Ministry of Economy, Transport, Central Bank and Customs in which it warned that the measures do nothing more than limit freight payments abroad, given the impossibility of absorbing exchange risk and inflation for 90 days.
And they requested that they be reviewed "in order to guarantee the normal flow of Argentine foreign trade, avoiding the risk of shortages in the market, increased costs and loss of competitiveness of Argentine foreign trade." However, "the big hit is not the freight company, but the importer and exporter," said one businessman.
The Government has been tightening the trap in the face of difficulties in accumulating reserves. Economy Minister Sergio Massa acknowledged on Monday the need to "reduce the demand for dollars" with savings in the purchase of energy, import schedules with the industry and the use of yuan "to compensate for that lack of dollars with yuan or planning."
