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December 26, 2023 – 07:17

A resolution from the AFIP establishes that taxpayers and responsible parties may use BOPREAL to cancel their tax and customs obligations.

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Specifically, the resolution establishes that the BOPREAL calculation will be carried out according to the following table:

Series Maximum value Term

  • 1A USD 1,000,000,000 from April 30, 2025 to April 29, 2026, both dates inclusive
  • 1B USD 1,000,000,000 from April 30, 2026 to April 29, 2027, both dates inclusive
  • 1C USD 1,500,000,000 from April 30, 2027 to October 31, 2027, both dates inclusive

The exchange rate applicable to determine the cancellation power of the BOPREAL will be the highest value in pesos computed on each reference datebetween the average exchange rate established by Communication “A” 3500 (BCRA) of March 1, 2002 corresponding to the five business days prior to each reference date and the implicit exchange rate that results from averaging the purchase and sale of securities eligible public acquired with settlement in foreign currency with transfer in the local market and sold with settlement in local currency during the five business days prior to each reference date.

BOPREAL: the details of the standard

For the purposes of determining the public titles eligible for this calculation, the three species with the highest volume operated will be taken as reported by Argentine Stock Exchanges and Markets (ByMA) in the sum of their settlements in pesos and dollars settled in the local market during the five days prior to each reference date.

Additionally, the Enforcement Authority will periodically report to the AFIP the technical value of the bonds or titles, calculated at the applicable exchange ratefor use by taxpayers against their tax and customs obligations.

The AFIP will dictate the relevant regulations in order to establish the procedure and conditions that taxpayers and responsible parties must observe for the cancellation of tax and customs obligations under the terms of Decree No. 72/23.

This general resolution will come into force on the day of its publication in the Official Gazette, that is, this Tuesday, December 26, 2023.

In summary, this general resolution allows taxpayers and responsible parties to use BOPREAL to cancel their tax and customs obligations. This represents a new tool to facilitate compliance with tax and customs obligations.





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