At the beginning of each month, companies enter the AFIP website to try to verify their situation. They need to check the value assigned for their Financial Economic Capacity or CEF. For example: if this has been reduced, if it was maintained or if they have fallen into the difficult situation of having a value of $1.
But how does this relate to imports? Through Joint General Res. No. 5271/2022, which creates the Import System of the Argentine Republic (SIRA) and the Service Import System of the Argentine Republic (SIRASE), it was established that as a prior step to the officialization of the application The system would validate the Financial Economic Capacity of the importer.
In other words, within the prior controls to formalize a SIRA or SIRASE request, the System must not only validate the general situation of the taxpayer, their risk profile, but also corroborate that they have sufficient CEF.
There are many companies that when making an order official see an error message that says “F24” which warns them that their CEF does not allow them to advance and, therefore, they will not be able to place it. There is no option but to start making calculations: determine how many SIRAS they have presented, observed, exited, partially cancelled, if they have any SIMI or if they have SIRASE and arrive at a value that allows them to compare it with the CEF. And the obvious question of how do I release CEF? What if I cancel a SIRA? Or if he canceled it?
In some cases, the accounts seem to indicate that the importer could continue with the process, so the difficult path of claiming begins: reprocessing, request for non-conformity and consultation by WEB contact. And wait while time passes and suppliers and customers become impatient, production becomes complicated and shortages begin.
The CEF $1 scenario is even more complex because initially it had been indicated that it applied to companies that had some non-compliance in tax and/or exchange matters – for example, not having complied with the income of foreign currency -, but many organizations do not They find themselves in this situation and although they make the corresponding complaints, no one responds nor does the solution arrive.
Today, the Financial Economic Capacity has become another “obstacle” for companies that operate in foreign trade. The most worrying thing in this context is the lack of response for many firms that cannot unblock system failures and wait to continue working. With less and less time.
Lic. Yanina S. Lojo
Mg. in Finance Management
www.consultoralojo.com
@mg.yaninaslojo
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by CEDOC