The Government announced the “Historical reparation plan for the savings of Argentines”that It seeks to encourage the use of dollars not declared. In detail, the measure suggests that citizens can deposit their savings without justify its origin and without limits to the amount they formalize. The Minister of Economy, Luis Caputowho was in charge of the announcement of the measures, ruled out that it is a New bleaching And he stressed that he points to “A regime change”with which they try to launch the “Reconetization” of the Argentine economy.
Along these lines, economic specialists highlight the fact that “Stop control”but they focus on the Legal security and the need to generate legislation To improve this future point. The small print of what the Executive can modify through DNU is also expected.
In addition, the government confirmed that it is “working” in a bill that will send to Congress To modify The Tax Criminal Law and the Tax Procedure for “Shield Argentine savers from here to the future”. At the moment, from Casa Rosada They did not confirm when the text will be admitted to the legislative enclosurebut for specialists it is a key point.
Not declared dollars: Little, they say economists about ads
The announced measures have “smoked taste,” says the financial analyst Christian Buter. Is that, during the last weeks, there were talks of measures that aim directly to the “dollars of the mattress”, but “Today we had none of those ads”he warned. “What was announced is that they will stop controlling or raising control levels, with what I am 100% in favor, it seems like a good measure. Many times they were ridiculous controls, that all they did was complicate the life of the taxpayer.”
“There was no measure that you can say ‘bring the dollars, put them in the real economy and stay calm that no one is going to control you the origin of those dollars, and if you paid or not taxes“The specialist begins. DGI or of ARK and that ends paying fines and others, either from this government or another. “That is, there is no regulations on which to be based, the only thing there is is the word of three officials at a press conference, which for the law is not worth much,” he synthesizes in dialogue with Scope.
“Mattress dollars are still black. He did not change his legal situation. Only Arca says he doesn’t want to know if you’re using them. But nothing prevents them from looking for you if you want and report you, “he emphasizes Carlos Rodríguezpresident’s ex -analysis Javier Milei.
In that line, the success of the measure will depend, according to the accountant’s blog, in the elimination of the figure of the “Non -justified patrimonial increase”. “If the law does not eliminate this figure, we will continue in it and legal certainty vanishes. The same with the Law Tax penalty and the Exchange penalty. Without laws, all lazy, “synthesizes.
Rodríguez Graph, in that sense, that if a house with “black” silver was bought, I would not sleep quietly, since despite the fact that the scribe does not report Ark of the transaction, “just enough that someone sends a parsley to denounce me for illicit enrichment and there I have to spit how I achieved my heritage,” he said.
“Black silver is still black (although it has been honestly won). All black silver holders are still potential criminals”summarize.
Impact of market measures and expectations
“It does not seem to me that the measure can have a macroeconomically relevant impact”underline Pedro Martínez Gerber of the PXQ consultant. And he details that he does not observe that the savers are going to fly their dollars from the mattress, although “perhaps with the implementation we have some novelty and change the panorama.”
“The laundering announced last year, for example, came with an important tax benefit: not only 0% taxes were paid but also an incentive to enter for the advance of personal goods. The current scheme does not imply any benefit of using dollars, or entering the system. The only novelty is the modification in the amounts for information regimes That, although it is a novelty, it does not seem to be generated massively an income of dollars to the system, “he says.
For Andrés Reschini, of F2 Financial solutionsthe announced measures are “welcome” by the private sector, given that “take part of the enormous burden that weighs in the matter of control.” And consider that these changes will help to “energize” formal activity.
However, he points out that the market expected “Something else about the use of currencies that are outside the system” And, in that sense, the measures can have a “more limited” effect until the legislation is reforming, in the middle of a less friendly congress, after the Buenos Aires legislative elections for the fight with the PRO.
“The changes come more than anything from the regulatory and it is very good. But the law still is missing”points the specialist.
Warn by legal structure that validates measures
Meanwhile, the economist Federico Glustein He emphasizes that the ads have a “double axis”, since they seek to create the “idea” that Argentines are owning their dollars and that they can use them for daily transactions, referring to the fact that there are no illegal maneuvers behind those funds and that it is not necessary to declare them. That message – according to the specialist – generates the perception that the State is not above people and thus motivate the adoption of the dollar as currency.
“It requires collective confidence, a social adoption of the currency for regular currency and not necessarily as a reserve of value, but also of a legal structure that validates these measures. In that aspect, they have to send a regulation than legal certainty that supports these movements. For now there is only deregulation of movements in pesos and some measures in that sense, “analyzes the economist.
Finally, Glustein coincides with Rodríguez on the need for “Anti -ilavado Standards”, that are fundamental to avoid cases contrary to the norm, such as using those dollars not declared and then for a complaint to have to inform the origin of the funds. “To that would add the possibility of having automatic filters to verify income realism linked to ARCA that is not necessarily declarative,” he concluded.
To these analyzes, Balanz added that another objective, despite not being the main one, It could be “a greater capture of deposits in foreign currency”which could positively contribute to the net reserves of the Central Bank, in a context in which the dollar does not reach the lower band and the monetary authority does not acquire currencies to treasure.
Source: Ambito
