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Imports are released: SIRAs are terminated, non-automatic licenses are terminated, and debtors are created

2023-12-26T03:21:48.189Z

Highlights: The government will put an end to the SIRA, the import system designed by Sergio Massa's Ministry of Economy. It will establish the SEDI (Import Statistical System), a kind of registry where imports must be declared and then assigned to a clearance. The same resolution that annuls the SIRAs will also create, as anticipated, the registry of import debtors. It is estimated that companies have liabilities of more than US$ 50,000 million with their suppliers or their parent companies.


The Government will publish the new measures in the Official Gazette on Tuesday. It will have to be recorded in a statistical register.


The government will put an end to the SIRA, the import system designed by Sergio Massa's Ministry of Economy with the promise of transparency but which ended up being more discretionary than before October 2022, when it was created.

The resolution that will be published in the Official Gazette will put an end to the SIRAs and, in turn, establish their replacement: the SEDI (Import Statistical System), a kind of registry where imports must be declared and then assigned to a clearance.

With this new instrument, the need for approval by the Ministry of Commerce is eliminated, which generated discretion. The government will issue a manual of procedures for the SEDI, which should be put in place immediately.

The form of access to dollars has already been established by the Central Bank. It will no longer be necessary to have prior approval to pay for new imports, but a tiered system of access has been established according to the type of good or service.

Payments may be immediate for foreign purchases of hydrocarbons and derivatives and electricity. Meanwhile, after 30 calendar days, payments for pharmaceutical products or inputs for this industry and fertilizers or phytosanitary products could be released.

The agency also imposed a six-month (180-day) deadline for payments for car imports.

And, for the rest of the goods, payments can be made in four installments. That is, 25% from 30 calendar days; an additional 25% from 60 days; an additional 25% from 90 days and the remaining 25% from 120 calendar days.

The same resolution that annuls the SIRAs will also create, as anticipated, the registry of import debtors – it is estimated that companies have liabilities of more than US$ 50,000 million with their suppliers or their parent companies. The government wants to filter this registry and assumes that there will be claims that will fall by the wayside.

The companies that sign up and have the official OK will be able to subscribe to the bonds in dollars (Bopreal) to cancel these debts.

Another resolution that will be published on Tuesday will put an end to automatic and non-automatic licenses, which in practice worked as a brake on certain products to favor domestic production from foreign competition.

Source: clarin

All business articles on 2023-12-26

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