One of the characteristics of this whitening It is that “it does not have a collection purpose but rather that of incorporating more taxpayers”“, comment official sources and, depending on the result, advance, as set out in the May Pact, a new tax system.
However, the aim is to attract large taxpayers who have left the country. The authorities are already aware that – beyond the benefits of the initiative – confidence in the country will be decisive for this to happen.
Stages of bleaching
There will be three stages to access the whiteningThe first, from tomorrow until September, will be paid at a rate of 5%; the second, from October and December, at 10%; and the third, from January and March 2025, at 15%.
It should be noted that there is no cost to launder up to US$100,000. This laundering is for all those funds that can be proven to be owned, that is, if they were in a mattress, it does not apply.
The money must be invested, but if you decide to withdraw it, there will be a 5% withholding tax. Dollars will be taken at $1,000 pesos.
In the case of a transfer from a United States account, they are considered physical bills.
Since taxes are shared in pesos, the result of the money laundering is taken at the official exchange rate of the day.
The system is encapsulated, meaning that special accounts are opened, which all banks are required to open at the request of the taxpayer.
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Notices
Another of the AFIP’s bets is that Starting in September, the exchange with the US through FATCA will begin and this will allow those taxpayers who have not declared their holdings to receive more information.
For this reason, the agency, through an induction process, will warn taxpayers about the information held by the tax collection agency and encourage them to enter the tax whitening process. “The intention is that it be an orderly induction to encourage the adhesion of companies, of individuals who are both within the system and if they are also outside the system,” official sources explain.
Consultations
With the idea of making the process easier, the AFIP established that can be done entirely onlineThere will also be a web-based consultation channel specifically dedicated to money laundering, with a simulator where taxpayers and companies will be able to simulate how much the moratorium and the proposal will give them, depending on the stage of income.
“The objective is to call on all those interested to inform themselves and join as soon as possible, because the money laundering, in addition to being free, for those who are not free, is cheaper in the early stages”they explained.
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Gross income
This Thursday you can also apply to enter the Special Regime for Income Tax on Personal Property (REIBP), which enables the advance payment of this tax at a reduced rate, guaranteeing fiscal stability. The tax payment will be 0.5% for the period 2024/27.
For those taxpayers who comply, they will also be able to pay in advance and the rate will be 0.45%. Meanwhile, for those who do not want to pay in advance, the rate will be 0.5% for the period 2024/27.
It should be noted that a moratorium was also established for tax debts registered as of March 31 of this year.
Furthermore, and in order to avoid speculation that another tax exemption and moratorium may be forthcoming, the law establishes that “a new tax pardon will not be permitted until 2038.”
Characteristics
Money laundering is covered by Law 27,743, known as “Palliative and Relevant Fiscal Measures” and that through General Resolution No. 5528 published in the Official Gazette, it details that black money entering the financial system must remain until December 31, 2025 or be invested in authorized destinations.
In some cases, the gap between the market dollar and the dollar established by the money laundering law can be exploited.
The regulations also facilitate the accession of people who lost their tax residency before December 31, 2023, who will be able to recover their residency from January 1, 2024.
Taxpayers will be able to express their support and make the mandatory advance payment until April 30, 2025. Reduction of compensatory and punitive interest, depending on the payment method and regularization date (between 70% and 20%).
Source: Ambito
