The Secretary of Commerce issued Resolution No. 242 - E/2016 (the "Resolution") by means of which the terms to repatriate export proceeds imposed by Resolutions No. 269/2001, 30/2016 and 91/2016 were extended.
The Resolution extended the terms to inflow export currency related to exports of goods included within the HTS codes 1 to 97 of the Mercosur Common Nomenclature to a term of 1,825 (one thousand eight hundred and twenty five) calendar days. The Resolution aims to improve the competitive situation of Argentine exports and increase the number of markets to be reached by local products. Although the Resolution is effective as from today, it shall also apply to export proceeds which have not been transferred to Argentina yet.