After several previous announcements, the National Executive Branch finally sent the project of the “Externalization of Argentine Savings Law” to the National Congress, or directly money launderingbut their treatment will be conditioned by the electoral calendar.
The initiative sent to the Chamber of Deputies underwent some changes with respect to the texts that had circulated months ago.
Among those modifications The figure of “collaborator” or “repentant” was eliminated, which granted benefits to those who helped in the detection of tax noncompliance.
People convicted of crimes against humanity were also prohibited from entering this version of money laundering.
Laundering was one of the conditions imposed by the financial information exchange program that is being held with the United States.
According to the norm sent to Parliament, individuals, undivided successions and companies with assets and financial assets not declared before the treasury may enter with an ascending rate as the terms run.
What are the assets that can be laundered?
In this way, you can present:
- cash in national and foreign currency in the country and abroad
- financial assets in the country and abroad including crypto assets
- real estate in the country and abroad
- furniture and goods in the country and abroad.
Laundering: what will be the aliquots?
The rates to be paid are: 5% from the effective date and up to 120 calendar days; 10% for assets declared from the expiration of the previous term and until the 120-day term has elapsed; and 20%, for the assets declared from the expiration of the second term and until the term of 120 calendar days has elapsed.
Then, assets detected abroad and not declared will pay a rate of 7.5% in the first 120 days after the law is enacted, 12.5% from the expiration of the previous term and up to 120 days, and from that date for another 120 corridos will be 22.5%.
In turn, there will be a special rate of 1.5% for individuals who launder possession of national or foreign currency and the amount does not exceed 35% of the average annual income of the last three years or a maximum of up to US$ 50,000. . In the event that the person does not have income declared before the tax agency, in the last three years, the amount that is externalized may not exceed the equivalent of US$ 50,000.
The money in cash in the country that is being laundered, both in national or foreign currency, must be deposited in a special account “Cuenta Ahorro Argentino” opened in a bank.
Source: Ambito
