The Federal Public Revenue Administration (AFIP) included for the first time in a laundering of virtual assets. It is mainly about what is known as cryptocurrencies. If any person has an undeclared account of this type Outside the country you have the opportunity to regularizegiven that it is very likely that, in the short term, the Argentine tax authorities will be able to access this information.
The holder would have to take into account that the externalization It is convenient simply to keep the accounts in order. already very low cost, but also runs the risk that in the medium term the AFIP may be aware of your account details.
It’s that the Organisation for Economic Co-operation and Development (OECD) works to include the Crypto in the information sharing agreement financial policy that is already in effect for bank accounts.
According to the CEO of SDC Tax Advisors, Sebastian Dominguez, The international organization is already working on it and states that “sooner or later he will include it.”
The tax expert recalled in dialogue with Scope When the OECD began to analyse the agreement on bank accounts, which has been in force for several years, many professionals were sceptical, but in the end it was approved.
It should be remembered that this agreement was one of the first coordinated actions between States with the aim of putting limits on tax havens in which large corporations tried to open accounts and create companies to avoid paying taxes in their countries of origin.
According to a report by the Inter-American Center of Tax Administrations (CIAT) Unlike traditional financial products, cryptoassets can be transferred and held without the intervention of traditional financial intermediaries, such as banks, and without any central administrator having full visibility of transactions made or cryptocurrency holdings.
“The crypto market has also given rise to new intermediaries and service providers, such as crypto exchanges and wallet providers, many of which are currently unregulated,” they note.
“These developments mean that cryptoassets and related transactions are not comprehensively covered by the OECD/G20 Common Reporting Standard (CRS), which increases the likelihood of their use for tax evasion and undermines the progress made in tax transparency through the adoption of the CRS (Common Reporting Standard),” the report said.
Bleaching allows for the inclusion of crypto accounts, which have the same treatment as other types of accounts, with a franchise of up to US$100,000. Only digital assets that are in the currency of the country may be declared. Virtual Asset Service Providers (VASP) registered with the National Securities Commission (CNV).
In this regard, the provider Goodbit He points out that anyone who wants to launder their cryptocurrencies “must deposit their virtual assets on a platform enabled to issue the necessary certificates.”
“The user must Check your cryptocurrency holdings as of December 31, 2023, since according to the law, it does not include assets acquired after that date.”
For the stage 1. From the date of whitening to September 30, the rate applicable to the surplus equivalent to US$100,000 will be 5% as a special regularization tax.
The rate will increase in the following stages (10% in stage 2 and 15% in stage 3). Amounts less than the above will have a rate of 0%.
Another service provider, Lemon, It also highlights the convenience of registering. Remember that the value at which the cryptocurrencies will be laundered will be that of the largest quote that has been displayed between the date of purchase and December 31, 2023.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
