close

Newsroom

Argentina economy open for business

14th January 2016

MGI World Obelisco landscape resized, with Argentina flag

Following the election of new president Mauricio Macri, major economic reforms are underway in Argentina that are opening the country up to international markets.

Among the biggest changes are the free float of the Argentine peso and a new import mechanism, which took effect in December.

Buenos Aires based MGI Jebsen & Co. has published English-language summaries of the reforms, which are just the beginning of the new president’s efforts to jumpstart the economy and boost international trade.

The first looks at a new set of easier import regulations that replace the controversial and disliked Declaración Jurada Anticipada de Importación (DJAI) mechanism - the Prior Sworn Import Declaration.

In its place is the Comprehensive System of Imports Monitoring - the Sistema Integral de Monitoreo de Importaciones (SIMI), which the new government hopes will boost foreign trade.

The second summary from MGI Jebsen & Co. details the looser foreign exchange rules, which started with the free float of the peso but has much wider implications for businesses inside and outside Argentina.

The unshackling of the peso is accompanied by the loosening of restrictions around foreign exchange dealings and overseas income.

For more on the reforms, read the summary documents:

THE EXCHANGE MARKET IN ARGENTINA NEW REGULATIONS IN FORCE AS FROM 17/12/2015  - DOWNLOADABLE PDF

NEW IMPORT MECHANISM – DOWNLOADABLE PDF

MGI Worldwide is a global network of accounting firms with over 5,000 professionals in 321 locations worldwide. For  more information visit www.mgiworld.com.

To contact MGI Jebsen & Co. please visit the firm’s MGI World Member profile page.

Read more on Member white papers

MGI World Lantern with text and logo overlay How To Close A Company In China

As COVID-19 continues to hit businesses around the world, Beijing member firm provides detailed guidance on how to close a company in China

30th November 2020

With the global economy taking a hit due to this year’s pandemic and businesses around the world...

MGI World Body of water with Middle-Eastern city in background with text overlay

Sultanate of Oman to introduce VAT from April 2021: Muscat-based MGI Vision Chartered Accountants provides details in NEW white paper

26th November 2020

Issued by Royal Decree in October 2020, the Sultanate of Oman has announced the introduction of...

MGI World Global IFRS white paper Sep 2020 518x362.jpg

MGI Worldwide with CPAAI's Global IFRS Specialist Group gives a brief overview on Covid 19, Lease Accounting and Rent Concessions

7th September 2020

In May 2020, the International Accounting Standards Board (IASB) issued Covid-19-Related Rent...