President Javier Milei signed decree 608, which regulates the regularization of assets, tax obligations and changes in Personal Property.
After enacting the law last week, the Government published tonight the Regulation of the “Palliative and relevant fiscal measures”better known as the fiscal package.
Through the Decree 608, President Javier Milei regulated the reduction in Personal propertyhe Whitening and the moratorium to regularize their obligations. Taxpayers who are in arrears with these obligations can join the regime to obtain certain benefits, such as forgiveness of interest and fines, and payment plans.
It contemplates the creation of an “Exceptional Regularization Regime of Tax obligations, Customs and Social Security”, the implementation of a “Regularization Regime of Country assets and from abroad“, the regulation of a “Special Income Tax Regime on the Personal property” (REIBP).
Exceptional Regime for the Regularization of Tax, Customs and Social Security Obligations
- Who can join?: taxpayers and jointly liable parties who have tax, customs or social security debts due by March 31, 2024.
- Term: The deadline for joining the regime is 150 days from the date of publication of the regulations.
Benefits
- Waiver of interest and fines: The amount of interest and fines forgiven depends on the date of membership and the payment method chosen.
- Payment plans:Taxpayers can choose to pay their debts in installments of up to 84 months.
- Condom of fines: All fines for formal violations committed before March 31, 2024 are waived.
- Waiver of interest on certain taxes: Interest on certain taxes paid before March 31, 2024 is waived.
- Reduction of professional fees: Tax advisors’ fees are reduced by 50% for debts that are under discussion.
- No reinstatement of tax benefits: Taxpayers who join the regime will not be able to restore tax benefits they have lost.
The text is also clear in pointing out that taxpayers who adhere the regime will waive their right to claim refunds of taxes, customs duties or social security contributions that have been regularized.
On the Special Regime for the Regularization of Assets
The law establishes a regime for the regularization of assets abroadTaxpayers who have assets that they have not declared to the tax authorities can join the regime to regularize these assets and pay a special tax.
Key points of money laundering
- Who can join?: resident and non-resident taxpayers who have assets abroad.
- Term: The deadline for joining the regime is April 30, 2025. The deadline may be extended until July 31, 2025.
Procedure for joining: taxpayers must first declare their adhesion to the regime. Then, they must file a special affidavit and pay a special tax on the regularized assets. This tax is calculated at a rate of 15% on the value of the regularized assets.Taxpayers may choose to pay the tax in installments of up to 5 years, as indicated by law.
Source: Ambito
