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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 selfsufficient 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


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