The Government turned this Wednesday to Congress a bill of money laundering, called “Voluntary Declaration of Non-Externalized Argentine Savings”, which will include individuals, undivided successions and companies, official sources confirmed Ambit.
The assets included in the initiative will be the possession of national and/or foreign currency in the country and/or abroad, financial assets, real estate, personal property and other assets in the country and/or abroad, including credits, sources from the Palacio de Hacienda detailed.
The initiative contemplates the application of three aliquots for the externalization of assets from the country and abroad when there is repatriation applicable to the amount externalized at the BNA exchange rate:
- 5%, from the entry into force and until the period of 120 calendar days has elapsed
- 10%, for the goods declared from the expiration of the period of the previous point and until the period of 120 calendar days has elapsed
- 20%, for the goods declared from the expiration of the period of the previous point and until the period of 120 calendar days has elapsed.
Applicable rates are increased for the externalization of foreign assets when there is no repatriation. Repatriation of assets will be understood when the amount entered into the country as possession in foreign currency and the amounts generated by the financial assets represent at least a percentage to be determined by the regulations of the total value of the assets abroad that are declared; which may not be less than TEN PERCENT (10%).
A simplified regime will be established with a special rate of 1.5% applicable to individuals who externalize possession of national and/or foreign currency and the amount does not exceed THIRTY-FIVE PERCENT (35%) of the average annual income of the last 3 fiscal periods and with a limit of up to US$50,000.
To access the simplified regime, the voluntary declaration of the possession of national currency or foreign currency will require the preparation of a purely informative sworn statement that accounts for the amount externalized.
Only those taxpayers covered by the Solidarity Contribution are excluded from the Simplified Regime (taxpayers with high contributive capacity are excluded).
Money laundering: benefits
Capital increases not justified by the declared goods will not be considered, indicates the project. In this way, the subjects covered will be released from all civil, commercial, criminal tax, foreign exchange criminal, customs criminal and administrative infractions that may correspond to the declared assets.
For their part, the subjects are released from the following taxes that they had omitted to declare:
- Income Tax.
- Internal Taxes and Value Added.
- Taxes on Personal Assets and the special contribution of cooperatives.
Money laundering: public officials and their immediate family members may not participate
Subjects who between January 1, 2010 and the effective date of this law, they would have performed public functions, as well as their spouses, cohabitants, parents and children.
In addition, those subjects declared in a state of bankruptcy without the possibility of continuing with the exploitation are excluded, as well as those convicted of crimes against tax non-compliance to the extent that there is a final sentence and that the sentence was not served.
In turn, set a collaboration agreement so that the AFIP obtains information and can locate and detect undeclared assets both in the country and abroad.
Source: Ambito
