The economic team is analyzing a measure that would facilitate operations with the dollar, through a currency control: it involves eliminating the obligation to transfer to a bank account the dollars that a person can buy on the capital market through stock exchanges.
This was anticipated by the Secretary of Finance, Pablo Quirno, through the social network X in a dialogue he held with the public, in which the official He went out to promote the entry into money laundering.
“Yes, we are analyzing it,” Quirno responded to an investor’s request, who demanded that Communication A 7340 of the Central Bank be repealed, which states that dollars purchased through MEP or Contado con Liquidación must be deposited in a bank account.
The repeal of that provision It could speed up the operation a little more, although it would take away some liquidity in foreign currency from the banks. and this would remain in the accounts of the settlement and clearing agents (ALYCS).
According to financial analyst Christian Buteler, the regulation established by communication A 7340 of the Central Bank is absurd because “it forces an investor to transfer his dollars to the bank and then return to the ALYC if he wants to reinvest those dollars.”
To be removed that provision, that person who acquires CCL or MEP dollars in the capital market and wants to buy bonds or shares with them, for example, You can do this automatically with your market agent.
On June 13, the Government had relaxed this provision for the collection of interest and amortization. of dollar bonds. The rule began to apply starting July 1st of this year.
It provides that market agents may reinvest the foreign currency received from capital and interest payments on debt securities without first going through their bank account.
Quirno: “Money laundering is virtually free”
In the exchange he had with the public, heThe official also noted that “money laundering is virtually free for any amount.”
“Anyone who does not come clean on this occasion understands very little (to put it mildly). It’s free. You only pay if you want to pay. If you deposit it (the money) in the account, and invest it in a very wide menu of alternatives, it is free.“, said the Secretary of Finance.
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The money laundering that the Government launched Obviously, the objective is to bring in dollars. The externalization of other types of goods does not seem to be of much interest.since it does not appear to be driven by a desire to collect taxes.
If the amount to be laundered is For less than US$100,000 the cost is zero, and if it exceeds that, a rate of only 5% is paid.. But if the person leaves a higher amount in a special account until December 31, 2025, also does not pay the tax.
According to Buteler, the virtual free of charge that Quirno mentions is that if a person launders and pays the special tax, and then invests its funds in Negotiable Bonds in dollars “could recover that cost because they are paying rates higher than the cost of the tax” Although he clarifies that “likewise, in those cases it is at the investor’s risk.”
The official also sought to bring clarity to the claim of lack of security regarding the future a change of government could alter the rules, as happened with the 2019 money laundering.
“So that what worries @DanielSuar007 does not happen again, we approved in Congress the BBPP Advance Payment Regime (which applies to EVERYONE): You pay 5 years in advance at a rate of 0.45% per year (2.25% total) with the 2023 DDJJ. You have fiscal stability until 2038. No one can come and charge you more than 0.25%. You do not file DDJJ until 2028 And if we remain in government, it will end in 2028,” he said, in addition to anticipating that if Milei goes for a second term he will seek to eliminate the tax.
Source: Ambito
