Thursday, 23 January 2014

Argentina limits citizens to two foreign e-commerce purchases a year

The government of Argentina has introduced strict new measures limiting purchases from international e-commerce websites.

According to new controls published on Tuesday 21st January, Argentina residents are restricted from making any more than two online purchases from foreign e-commerce websites each year.

In addition, for purchases of more than $25 worth of goods, consumers must register as "importers" and comply with regulations set out by the General Import Regime. Purchases over the $25 limit will also be subject to a 50% import duty, applicable to both the value of the goods and the freight costs, and anyone importing more than their limit will have to clear goods personally at the customs office.

Argentina's head of Administration of Public Revenue (AFIP), Richard Echegaray, said the new measures were being implemented "in order to optimise traceability of transactions". The general understanding is that Argentina is bringing in the new law to restrict currency leaving Argentina at such a difficult economic time for the South American country. Argentina's currency reserves recently fell to their lowest level in seven years.

International online shopping had been booming in Argentina until recently, with 2013 seeing twice the number of Argentinians making online purchases than 2012.

In spite of the severity of these new laws, an announcement by the Directorate General of Customs seems to indicate that certain goods will be exempt, and analysts have suggested that electronic applications such as computer software will not be subject to such tight restrictions.

Source: Post & Parcel

No comments: