The provision of the Central Bank that allows independent workers bring your dollars into the country without being settled at the official exchange rate with an annual limit of US$12,000 is already operational, according to the banks, while for companies, technical adjustments are still being made for its implementation. Knowledge economy companies had claimed to have the same access as freelancers to mitigate the flight of talent abroad by paying part of the salaries in hard currency.
According to government sources, THE NATION, At the request of the companies, the flexibility of the stocks for the sector is being improved and technical adjustments are being made for its implementation in which various organizations are involved. Referents of companies pointed out that in the regulation it is a requirement to reach 50% of the incremental on exports of 2021, with which, until the foreign sales of the previous year are not exceeded, it is not applied, and when that 50 is reached % serves to pay 20% of salaries. “It is a tangle of relationships that are difficult to implement”, they graphed.
In addition, the standard would not mention the years following 2022, with which, following the firms “No stable remuneration payment policy might be implemented on that basis.” Another element that would be pending is that the BCRA agreed to have an application with the export information of each company for the use of the banks and it is not yet ready.
According to communication A 7518, when the exporter is a legal entity, it must have a “Certification of increase in income from service export charges in 2022″, which may be issued by a local financial entity when a series of requirements are verified.
The first is that the value of service export receipts for the concepts that entered the foreign exchange market in 2022 is higher than that of the same set entered in all of 2021. In addition, the exporter must have registered settlements in the foreign exchange market of service export charges for the concepts during the past year.
On the other hand, the amount of the certifications issued, including the one requested, must not exceed the equivalent in foreign currency of the minimum of the following two values: 50% of the value by which the income from the foreign exchange market of service export collections for the concepts in 2022 exceeds the amount entered for such concepts during the whole of the previous year; and the amount in foreign currency equivalent to 20% of gross remuneration paid to workers in the previous calendar month multiplied by the number of months remaining until the end of the year including the current month.
Finally, communication A 7518 states that the entity must have a sworn statement from the exporter in which he undertakes to the funds not settled by virtue of this mechanism will be used to pay workers’ net remuneration in foreign currency within the limit of 20% provided for in article 107 of the Labor Contract Law, and what what as of December 31, 2022 has not been allocated to the intended use, will be settled within the following five business days.
Both in the case of companies and individuals, on the day on which the use of this mechanism is requested, nor in the previous 90 calendar days, sales of securities must have been arranged in the country with settlement in foreign currency issued by residents or swaps of securities issued by residents for foreign assets or transfers thereof to foreign depository entities or the acquisition in the country with settlement in pesos of securities issued by non-residents.
On the other hand, both actors must agree not to arrange sales in the country with settlement in foreign currency of securities issued by residents or exchanges of securities issued by residents for foreign assets or transfers thereof to foreign depository entities or the acquisition in the country with settlement in pesos of securities issued by non-residents for the subsequent 90 calendar days.
