Minister Luis Caputo received the clearing and settlement agents of the capital market and informed them about the alternatives that externalization of capital offers to investors. Mutual funds, bonds and registrable assets are among the possibilities.
It is estimated that most of these people might be interested in externalizing money for up to $100,000, which has zero cost.
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The national government on Wednesday specified the range of investments and possibilities available to taxpayers who enter into the money laundering process, given the benefit of having no fiscal cost.
“AFIP, the National Securities Commission (CNV) and the Ministry of Economy – Undersecretariat of Public Revenue – inform about the alternatives available to taxpayers who externalize assets so that the Regime of Title II of Law No. 27,743 is free of charge,” the agency said in a statement.
Alternatives
- The first option is to declare assets of any type worth up to US$100,000.
- The second alternative is to declare cash until September 30, inclusive, which must be deposited or transferred to a Special Asset Regularization Account (CERA) and maintained until December 31, 2025, inclusive, if it exceeds US$100,000 or until September 30, inclusive, if this amount is not exceeded.
- There will also be no cost when the declared funds, regardless of the amount, are used, within the scheduled dates (9/20/2024 or 12/31/2025), to pay the special tax or to any of the investments authorized by the regulations.
What else can be invested in at zero cost?
- Public securities issued by the National States (including BOPREAL),
- Provincial, Municipal and/or the Autonomous City of Buenos Aires.
- Shares placed through a public offering authorized by the CNV.
- Negotiable bonds with public offering authorized by the CNV.
- Shares of closed-end mutual funds, placed through a public offering authorized by the CNV.
- Participation certificates or debt securities of trusts placed by public offering authorized by the CNV, intended for the financing of MSMEs, and/or investment and/or financing in productive, real estate and/or infrastructure projects, to promote productive investment.
- Real estate projects initiated after the validity of Title II of Law No. 27,743, or with a degree of progress of less than fifty percent (50%) of the completion of the work at that time. Includes constructions, extensions, installations, among other works, in own or third-party properties.
The government stated that “this benefit will be maintained even if changes are recorded in the investments within the admitted optionswhenever it is keep the funds and/or negotiable securities, and/or in the case of cash, for a limited time, in the special regularization accounts and/or special regularization client accounts.”
On the other hand, it was noted that “in the case of externalized cash, for an amount of up to US$100,000 may also be used – until 9/30/2024, inclusive – for duly documented onerous operations”that is, purchasing homes or cars.
On Tuesday afternoon, the Minister of Economy, Luis Caputo, held a meeting with the Clearing and Settlement Agents (ALYCS) who requested clarification on possible investments with the laundered funds in order to provide better advice to their clients.
As reported Ambit, there is Interest of taxpayers in regularizing their situation with the tax authoritiesIt is estimated that most of these people might be interested in externalizing money for up to $100,000, which has zero cost.
Source: Ambito
