Justice raids two laboratories for over-invoicing of imports denounced by Customs

A group of specialized Customs-AFIP agents analyzed five machine import operations carried out by a major Argentine laboratory and found “flagrant over-invoicing”. As indicated in a press release, the agency headed by Guillermo Michel filed a complaint and the economic criminal justice ordered searches in two buildings, in which documents relevant to the case were seized.

According to customs data, the operations were reported in Argentina for approximately $5 million. However, in China, machinery exports had been recorded at a value of only USD 555,920, so an overcharge of USD 4,484.04 (907%) is under investigation. One of the laboratories, according to the Telam press agency, would be Alfapharma.

What caught the attention of Customs was the re-invoicing of the goods through a Panamanian company, given that the goods were shipped directly from China to Argentina. Strictly speaking, for Customs, triangulated operations are legal and common in foreign trade but they represent a risk indicator to be analysed.

“In this case, no tangible capital gain was found that the Panamanian intermediary provided to justify the re-invoicing prices. It is presumed that he was included to overcharge the import and leave $4.5 million in a bank in this country,” they explained from the agency.

“Indeed, the documents to which Customs had access allow it to believe that the goods left China in the name of the importer and that the commercial operation was closed and concluded between the Chinese company and the Argentine laboratory directly by a hierarchical employee of the latter.” The same thing appears in the documents with the name of Raquel, ”they detailed customs in a press release.

The complaint was dealt with before the Economic Criminal Court No. 2 and related both to the illegal activity provided for by the Customs Code and to the abusive exit of foreign currency, “a situation highly detrimental to the economic situation of our country. “, they explained. In this context, the customs estimated a fine of approximately 22.6 million USD.

As a result, the General Directorate of Customs has deepened the control of companies related to the pharmaceutical industry, medical supplies and equipment. More specifically, it analyzes the triangulated imports for the period 2021-2022 of 15 laboratories for amounts exceeding 200 million USD.

Differences detected between the value declared for each import destination in Argentina and its export in the People’s Republic of China:

In late February, customs discovered that a dry pasta company based in Tres Arroyos, Buenos Aires province, had under-invoiced 82 triangulated exports to Chile via the United States. Between taxes due and fines, the firm could be fined more than 320 million dollars under article 954 of the customs code.

Indeed, the selling prices to intermediaries – respectively based in Florida and New Jersey – are significantly lower than those declared during exports without triangulation; in some cases, 64% less.

Since the exports left Argentina through Mendoza, customs informed Federal Court No. 1 of the aforementioned Cuyo Province of the irregularities and requested searches.

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