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Trade and Industry Department The Government of the Hong Kong Special Administrative Region
Brand Hong Kong - Asia world city
MY COLOUR

Commercial Information Circulars

24-hour hotline : 23 922 922

e-mail address : enquiry@tid.gov.hk

Ref : EIC 411/2

17 October 2014

Dear Sirs,

Commercial Information Circular No. 907/2014

Argentina : Amendment to the Operational Procedures in Processing Advance Sworn Declaration of Import

Further to Commercial Information Circular No. 157/2012 of 28 February 2012 regarding the establishment of an Advance Sworn Declaration of Import ("Declaración Jurada Anticipada de Importación" in Spanish /DJAI), the Federal Administration of Public Revenue (AFIP) of Argentina issued General Instruction No. 959/2014 on 16 July 2014 to set out the amendment of certain operational procedures in the processing of DJAI.

2.For every DJAI application, there is an automatic system assessment on whether (i) the importer has been enrolled in AFIP's anticipated profits tax payment scheme for at least 18 months; (ii) the average tax credit/debit ratio for payment of value-added tax is more than 1.20, assuming a minimum of 20% mark-up in the price of the goods sold; (iii) an importer making advanced overseas payment has completed at least one importation in the previous 180 days; and (iv) overseas transfers carried out in the previous 12 months exceeded 80% of total sales declared for the payment of the value-added tax.

3.If it is determined that a DJAI application does not comply with one or more of the above requirements, the application will be automatically "blocked" until the investigation is completed. If no inconsistency is found, the DJAI application will be granted "officialised" status but will still be temporarily blocked for 10 days for assessment of the application, taking into account the history and activities of the importer and any other relevant information. The "officialised" application will be "released" if no further remark is made.

4.For details, traders are advised to consult their importers in Argentina and/or the above Argentine General Instruction (in Spanish) at: http://www.uniondeexportadores.com/Documentos%20generales/downloadables/instruccion%20afip%20959.pdf.

ENQUIRIES

5.For enquiries about the content of this circular, please contact Mr Lewis LAU at telephone number 2398 5405.

Yours faithfully,

(Ms Cindy CHENG)
for Director-General of Trade and Industry



Note: While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.