The mega trap to take care of the dollars: the ambitious official plan / Argentina News

To care for dwindling dollars, the Government created a surveillance unit for domestic and foreign trade that will coordinate different State agencies to monitor the purchase and sale of goods, control companies and the liquidation of dollars, as well as the payment of taxes and the closure of imports.

The inclusion among the organizations that make up the Unit, of the Superintendence of financial and exchange entities of the BCRA, which has little to do with trade, gives the guideline that it seeks, above all, to monitor dollars, experts warn.

Also with the threat to denounce the companies for “dominant position”, which is among the objectives of the Unitthe aim is to moderate the increasingly accelerated rise in the price level.

What companies think about the Trade Monitoring Unit

An expert who did not want his name to appear warned that this unit, with the multiplicity of state bodies that make it up and the breadth of its objectives to control companies seems like a “Soviet body“.

but one official source assured that the coordination between organisms that is now institutionalized had already been carried out. For example, between the Central Bank and other organizations, or the CNV and the AFIP, since this exchange can be carried out without violating tax secrecy..

Diego Fraga, a partner of the Expansion Group, considered that “everything happens through dollars”, and that “the AFIP is there because it is the body that handles the most information and has the greatest reach, with 21,000 agents.”

In the Unit, the AFIP will be key because it is the organization with the most information and agents on the street

Juan Magadan, from PwC Argentina, said that the Unit will be above all to see compliance with regulations, and with regard to sanctions, it will then submit the files to the corresponding bodies, such as the AFIP and the BCRAFor example.

From the Argentine Chamber of Commerce and Services (CAC), President Natalio Grinman, said that “details remain to know how the implementation of the Trade Analysis Unit could have an impact on companies”.

“Some aspects that were made known, such as the objective of guiding the consumer and verifying the correct taxation, are considered favorable for the sector,” he said.

“What we must avoid is falling into the delusion that with measures on companies the inflationary problem will be corrected, which has its roots in macroeconomic policies. There is still a lot to be done in this regard and we believe that is where the measures should aim , and it must be soon,” Grinman emphasized..

Which organizations make up the Trade Monitoring Unit

The Unit for Monitoring and Traceability and Promotion of Trade Operations was created this Mondaywith the publication in the Official Gazette of Joint Resolution 1/2023, signed by the Ministry of Economy, the Secretary of Commerce, the AFIP, the Central Bank and the Securities Commission, among other organizations.

The Internal and Foreign Trade Control Unit brings together 9 State agencies

The Internal and Foreign Trade Control Unit brings together 9 State agencies

This unit will function within the scope of the Ministry of Economy, for the monitoring, traceability and promotion of trade operationsand will be made up of the following organizations:

1. Ministry of Economy.

2. Commerce secretary.

3. Secretariat of industry and productive development.

4. Ministry of Agriculture, Livestock and Fisheries.

5. AFIP, with the participation of Customs, the DGI and the General Directorate of Social Security Resources.

6. The Central Bank, through the Superintendence of financial and exchange entities.

7. National Insurance Superintendence.

8. National Securities Commission (CNV).

9. Financial Information Unit (FIU).

What objectives will the Trade Control Unit have?

The Unit has among its powers to guide the consumer

The Unit has among its powers to guide the consumer

The powers of the new control body of internal and foreign trade are the following:

  • effect the monitoring of purchase and sale operations of goods and services in internal and external trade.
  • Promote business operations fairly, avoiding dominant positions.
  • The verification of the traceability of the goods object of trade and of the correct taxation at each stage.
  • consumer orientationtaking into account the variables obtained in the monitoring process.

The technicians that the different organizations appoint as representatives in the Unit will analyze the connected information on a daily basis and will order the measures that are necessary.says the norm.

Written by Argentina News

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