2023-04-21 03:26:21
The Central Bank established modifications to the payment of professional services and freight between related companies, with the aim of deferring payments for 60 days (90 in the case of freight) and taking care of reserves. Additionally, it provided prior authorization for the payment of interest on intra-company debt, which, as a whole, manages to postpone payments for US$2,000 million until the end of the year.
The decision was communicated after the board meeting, in which it was also decided to raise the reference interest rate by 300 basis points, taking it from 78% to 81% annual nominal.
In the midst of the strong rise of the “blue” dollar and the financial ones and with a timid liquidation of agricultural currencies in the Export Increase Program in its third version, the monetary authority increases restrictions to avoid the dripping of reserves.
In a statement, the BCRA Board of Directors specified: “In the event that the creditor is a counterparty linked to the debtor, prior authorization will be required until the end of the year to access the exchange market to pay interest services on commercial debts for imports of goods and services and/or financial loans abroad”.
While, in addition, the BCRA Board authorized companies to make remunerated deposits in official dollars for the amount in pesos equivalent to unpaid interest or the use of own available currencies, which apply to the payment of commitments when the creditor is a related counterparty.
The measure, the document clarifies, does not affect the payment of services that are currently covered by the PAIS tax, such as the entertainment platforms Netflix, Spotify and YouTube, which will continue to be carried out as they are today.
What are deferred services and for how long?
The services that will be paid with a minimum deferral of 60 days from the date of approval of the SIRASE and will require the authorization of the BCRA are:
– Legal, accounting and managerial services.
– Advertising services, market research and public opinion surveys.
– Architectural, engineering and other technical services.
– Other business services.
In the event that the payments correspond to related counterparties abroad for freight services or other transport services, the payment will be made after 90 calendar days from the effective date of provision.
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