Télam. National News Agency of Argentina. Oct. 31, 2011. The Government formalized on Monday the Federal Tax Bureau’s resolution setting forth new requirements for the purchase of foreign currency, which also makes banks and bureau de change cross check the client’s data with that entity before carrying out the operation.
Resolution 3210, announced last Friday and published today in the Official Gazette orders the setting up of the “Consultation Programme for Foreign Currency Operations” that such entities will have to implement as of this Monday.
In its first article, it reads that “for fiscal purposes, entities authorized by the Central Bank of the Argentine Republic to carry out sale and purchase of foreign currency shall have to consult and register through the IT system hereby established, the amount in Argentine pesos of the total of each of the foreign currency operations”.
In the second article, AFIP’s resolution further adds that “included in this system and register are the foreign currency sale operations in all its modalities carried out by authorized entities, no matter their objective or destination”.
As for the entities, the resolution states in its fifth article that “towards registering the foreign exchange operations, they will have to enter the Sole Tax Identification Number (C.U.I.T.) or the Sole Employment Identification Number (C.U.I.L.) or the Identification Code or the National identification number of the person carrying out the operation”, that is to say, the client.
They will also need to enter into the AFIP system the kind of currency to be purchased and its destination” as well as the amount in pesos for the operation and the rate of exchange”.