The national government sent to Congress a money laundering project which will be aimed at individuals, undivided successions and companies. Who can access, who is excluded and what are the benefits?
1. What are the goods included in money laundering?
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 bill provides for the creation of the special regime “Voluntary Declaration of Non-Externalized Argentine Savings”.
2. Laundering: the initiative contemplates the application of 3 aliquots
When there is repatriation applicable to the amount externalized to the dollar Banco Nación (BNA)
- 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.
3. Rates are increased for the externalization of foreign assets
When there is no repatriation, which may not be less than 10%.
4. 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. .
5. How to access and who is excluded?
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).
– Public officials and their direct family members are also excluded.
– Subjects declared in a state of bankruptcy or subjects convicted of crimes against tax non-compliance are excluded to the extent that there is a final judgment and that the sentence was not served.
Laundering project: what are the 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 goods.
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.
Source: Ambito
