Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 20

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 20
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 set out in Section 198 of the Law No. 27,742 (which states that SPVs are not required to enter or settle in the MULC the foreign currency obtained from activities other than the export of goods, including services), the exception provided in Section 14.1.3 of the Consolidated Text will apply. This section specifies that payments for services provided to non-residents by a VPU with a RIGI-backed project will be exempt from the requirement to enter and/or settle the foreign currency value, as long as the service was provided or accrued from the start-up date of the SPV, as reported by the Ministry of Economy to the Central Bank.

Likewise, to the extent that certain requirements set forth in points 3.11.3. and 7.9.5 of the Consolidated Text are met, it is allowed for service export payments to be accumulated in accounts opened in local or foreign financial entities, for the amounts due in debt contracts, in order to guarantee the cancellation of the capital and interest services of foreign financial indebtedness and/or issuances of public debt securities in the country denominated in foreign currency and whose services are payable in foreign currency in the country. The increment export program is also applicable for the exports of services.

Import of Goods 

Section 3.1 of the Consolidated Text allows access to the MULC for the payment of imported goods, establishing different conditions depending on whether the payments correspond to imported goods with customs entry registration or imported goods with pending customs entry registration, and based on the due date of the interest accrued on such commercial debts.

The reimplementation of “SEPAIMPO”, the import payment tracking system, is also foreseen, with the objective of monitoring import payments, import financing, and verifying the entry of goods into the country.

In addition, the local importer must designate a local financial institution to act as the tracking bank, which will be responsible for verifying compliance with the applicable regulations, including, among other things, the settlement of import financing and the entry of imported goods.

Regarding access to the MULC for the payment of imported goods, the following provisions apply:

As of December 13, 2023, entities may grant access to the MULC to make deferred payments for imported goods with customs entry registration, without requiring prior approval from the Central Bank, provided that applicable regulatory requirements are met and deadlines are respected according to the type of goods. For certain strategic goods, such as fuels, electricity, and materials intended for energy production