Argentina adopts new early declaration for payments abroad
How to Transfer Dividends and Profits Abroad from Argentina: Declaracion Anticipada de Pagos al Exterior or DAPE.
This system will enter into force on 1 February 2013 and will also apply to transactions previously agreed whenever any amounts are still outstanding as of that date.
This new DAPE system adds to the already existing early declaration system for services (in Spanish, Declaración Jurada Anticipada de Servicios or DJAS) in force since 1 April 2012, and the early declaration system for imports (in Spanish, Declaración Jurada Anticipada de
Importaciones or DJAI) in force since 1 February 2012.
The Argentine Federal Tax Authorities (AFIP) issued General Resolution 3417/2012 (published in the Official Gazette on 20 December 2012), creating a new “Early Declaration for Payments Abroad” (in Spanish Declaracion Anticipada de Pagos al Exterior or DAPE). As per this resolution, Argentine tax residents will be required to file the DAPE through authorities’ web site to disclose information related to payments to be made abroad in relation with the following concepts: a) debts for the purchase of goods not imported into the country and sold to third countries, b) interest, c) dividends and profits, and d) imports through courier or certain simplified mechanism.
The information included in the DAPE fillings will be available for governmental organizations involved in the control of such transactions in order to issue their opinions. The governmental organizations will have a specific timeframe to provide their comments for each DAPE, which will be specified in the agreement that each organization will sign with the AFIP to formalize its inclusion in the system.
Each DAPE declaration will be give an identification number assigned by the AFIP website, which will be required in order to be granted access to the foreign exchange market for the purpose of making the payments abroad.
The information to be provided is detailed and includes among others, dates, amounts involved, characteristics of the agreements, type of goods, parties involved, etc. In addition, the filling shall include “pdf files” of the corresponding supporting documents (invoices, agreements, board resolutions, etc.) which will also be remitted through the tax authorities’ web site.
It is further explained that in relation with the purchase of goods not
imported into the country and sold to third countries, a DAPE must be filed for each sale transaction, while for interest, a DAPE will be required for each loan agreement, or for each amendment or renegotiation of the loan.
In addition to the foreign exchange regulations in force in the country, which are governed by the Argentine Central Bank, Argentine residents that envisage payments abroad for purchase of goods not imported into the country and sold to third countries, and imports through now need to analyze the effect of this new requirement established by the AFIP on these operations.
The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience doing Transfer Dividends and Profits Abroad (in Spanish Declaracion Anticipada de Pagos al Exterior or DAPE) with foreign clients involved in all type of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires lawyer in Argentina.
If your company needs help in Argentina to Transfer Dividends and Profits Abroad contact us today.