Any freelancers here billing in USD/EUR? Central Bank wants to force pesification of your income...

[Irelander]

I was told at Comafi that it will probably be the first couple of months only, after which you can just send the documentation electronically again and get your money without all the hassle

... I certainly hope this is the case. It's just occurred to me: what happens with holidays? You can't go anywhere because, if an invoice payment arrives at your bank and you're not there to sign for it ....

 

[d.gray]

... I certainly hope this is the case. It's just occurred to me: what happens with holidays? You can't go anywhere because, if an invoice payment arrives at your bank and you're not there to sign for it ....

Yeah, it's nuts! You'll just have to wait until you get back to change it into pesos I guess.

By the way, BCRA has made a few changes to the rules, so it looks like they are taking note of some of the problems faced by some sectors. Nothing here about exporting services, only 'bienes', but perhaps they'll make some more exceptions for small exporters in the near future:

Control de cambios: el Banco Central flexibilizó las exigencias para la liquidación de algunas exportaciones

A través de la Comunicación "A" 6788 se dispuso la tercera modificación del régimen de ingreso de divisas por la venta al exterior de bienes. Regulaciones sobre financiaciones y seguimiento de las transacciones

www.infobae.com

 

[Irelander]

You'll just have to wait until you get back to change it into pesos I guess

Not even that! .... don't forget you have 5 days to show up at your branch with the paperwork ... or else the transfer is cancelled.

So don't go anywhere ...

 

[mellamanjorge]

With BCRA releasing some of the pressure (see above) you might want to check another issue which I was made aware of by my accountant. Since earlier this year, all those that were not registered as PyME (with certificate and everything) might have incurred costs at Afip/Aduana for exportation rights. This goes back to a regulation that all those billing for more than 600.000 USD per year should have to pay for the right to export (the infamous "retenciones" of the agriculturists, only now for everyone). The problem with this regulation is, that only those who were definitively registered as PyME were exempted. Since I wasn't registered (but was Monotributista at the time, thus in any case only allowed to write invoices of maximum ~25.000 USD per year) I ran up several thousand pesos of export rights fees which they slapped on me just in case... Later Afip noticed their error and put me in a category of "possibly PyME", which still didn't exempt me though. Only now that I am registered as PyME I definitively don't have to pay them any more. And I will fight the ones they already fined me with. You might want to check that for your situation.

 

[d.gray]

Not even that! .... don't forget you have 5 days to show up at your branch with the paperwork ... or else the transfer is cancelled.

So don't go anywhere ...

Ah, didn't realise that. I thought that the 'orden de pago' just had to arrive within 5 days, then you could turn up when you want to 'liquidar' it. Nothing's clear, to be honest. They make it so difficult for just trying to stick to the rules.

 

[d.gray]

With BCRA releasing some of the pressure (see above) you might want to check another issue which I was made aware of by my accountant. Since earlier this year, all those that were not registered as PyME (with certificate and everything) might have incurred costs at Afip/Aduana for exportation rights. This goes back to a regulation that all those billing for more than 600.000 USD per year should have to pay for the right to export (the infamous "retenciones" of the agriculturists, only now for everyone). The problem with this regulation is, that only those who were definitively registered as PyME were exempted. Since I wasn't registered (but was Monotributista at the time, thus in any case only allowed to write invoices of maximum ~25.000 USD per year) I ran up several thousand pesos of export rights fees which they slapped on me just in case... Later Afip noticed their error and put me in a category of "possibly PyME", which still didn't exempt me though. Only now that I am registered as PyME I definitively don't have to pay them any more. And I will fight the ones they already fined me with. You might want to check that for your situation.

That sucks. Fortunately my accountant told me about that when it all happened and signed me up as a PyME so I never had any problems. Really stupid though – retenciones are only for anyone earning over 600,000 USD, so you would think you were automatically excluded being in the Monotributo. But no.

 

[mellamanjorge]

I've asked TransferWise via Twitter whether their transfers would comply with the new regulations here. This is their response:

That's a good question. Keep in mind that in order to be able to operate in a certain place, we must comply with local regulations. Rest assured TransferWise it's in compliance with the regulation in Argentina. Compliance is always our first concern when opening a new route.

I have a hunch, though, that the person who answered the question was not aware of the new regulations and responded out of the conviction that they always comply wherever they do business. To be really sure I asked BCRA the same question. Probably not easy to get an answer. Has anyone tried that?

 

[jblaze5779]

I've been able to move $5000USD out via transferwise without issues. It costs me about 7 dollars per $980 dollars.

Transferwise, for some reason, is limited to 55,000ARS transfers out of Argentina a day and $5000 USD per month. I called and asked them why these limits exist and no one has any idea. I told them they could make some money by lifting these limits.

I will keep moving 5kUSD a month out at about 980USD a transaction for the foreseeable future. All of this is BS and i don't see it getting any better after October. Seriously considering cutting my contract and returning to the states.

 

[MrMojoRising]

Not even that! .... don't forget you have 5 days to show up at your branch with the paperwork ... or else the transfer is cancelled.

So don't go anywhere ...

Hi! Do you have any experience of this happening? I've just discovered a mail in my junk about a pending payment that's over a week old. Might actually work out cheaper to have the transfer returned.

 

[d.gray]

All of this is BS and i don't see it getting any better after October. Seriously considering cutting my contract and returning to the states.

There's a good chance things will get worse (in terms of currency controls, at least). I remember when the last cepo was introduced back in 2011, you could still buy a few dollars at first, it was just a bit more hassle. Then it gradually got worse from there.