Exportation of new vehicles, however, must meet the direct export criteria which require that any new vehicle exported from the UK should not have been used on the UK roads, so our company will not be required to a vehicle tax or the first registration fee. Once our customer in Argentina receives the vehicles exported, signed duplicate copies of the direct export certificate (the V308) must be returned to the local DVLA offices for record-keeping. All importation and exportation documents that are not in Spanish must always be translated by an official Argentinean translator, certified by the Argentine College of Translators (Rock, 2001).
The Argentinean government enacted foreign exchange controls in 2001 by imposing various restrictions on cross-border transfers and foreign trade. These restrictions manage the country’ s economic policies which the government views as tools to increase the nation’ s dollar reserves in the Argentinean Central bank and limit capital flight to other nations. All sales and purchases and cross-border transfers from Argentina must be done through a licensed Argentine financial organization or foreign exchange house. The rates used in these exchanges are controlled by market forces, although we note that the Argentine central bank has the right to buy and sell foreign currency.
The government policies require that Argentinean residents sell for Pesos all currency proceeds from non-Argentine residents. This means that foreign financing is subject to an annual mandatory deposit in U. S Dollars with a local financial institution. However, we note that there are exemptions to this rule such as international trade financings and loans from multilateral credit companies. Such loans must be repaid one year after disbursal to the Argentinean, therefore, in case our client acquires a credit facility from one of these institutions for the vehicle payment but is unable to repay the loan within one year, the vehicles are liable for repossession (Rock, 2001).
In foreign trade, the Argentinean policies require an Argentinean to bring and sell goods for Pesos in the Argentine market.
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