Money laundering: banks will not be able to retain gross income in special accounts

The Arbitration Commission of the Multilateral Convention (Comarb) On Thursday afternoon, the banks were informed that it had been decided to leave them out of the Banking Accreditation Collection and Control System (SIRCREB) to the special money laundering accounts.

This implies that in the event that a client of a financial institution decides externalize weights in a Special Asset Regularization Account (CERA), Nothing should be withheld from the Gross Income corresponding to the provinces.

The entity that regulates fiscal relations between the provinces sent a note to the Association of Banks of Argentina (ABA)the Association of Argentine Banks (ADEBA)the Association of Public and Private Banks of the Argentine Republic (ABAPPRA) and the Specialized Banking Association (ABE).

The tax specialist Sebastian Dominguez -CEO of SDC Tax Advisors- commented to Ámbito that the decision adopted by the entity “does not prevent Each jurisdiction may consider that they are taxed the deposits that can be made in the CERA accounts, because each jurisdiction maintains its tax authority.”

Dominguez pointed out that the measure It does not mean that the risk that a jurisdiction that is not adhering to money laundering will not later seek to claim taxes disappears. and municipal taxes. “At least the banks will not collect the SIRCREB on account of Gross Income,” he said.

The tax expert indicated that provinces such as Tucumán and Misiones have another type of system different from SIRCREB, which is why they are collecting taxes on CERA accounts. This last province is about to join the money laundering scheme.

So far the legislatures of Córdoba and Neuquén have approved laws to adhere to national money laundering. This means that provincial taxes will be treated in the same way as national taxes.

In this way, a person or company that externalizes assets will be assured that the treasury will not claim taxes from previous periods under the assumption that economic activities were carried out that are taxed.

But In the rest of the provinces the taxpayer is really exposed that local tax authorities use the amounts they are laundering to charge them taxes for alleged activities carried out.

Banks demand sworn statements

The other problem that has arisen with the banks in recent days is that They ask those who externalize a sworn statement of what was launderedThose who declare less than US$100,000 now will be able to access that money starting October 1.

The fear of the entities is supposedly that someone has declared more than US$100,000 but has deposited it in different accounts by dividing the amount for an amount less than the deductible for be able to withdraw the money from the first day of the next monthIn that case, the account holder could be violating the rule that allows him/her not to pay the special tax if he/she maintains the account balance until December 31, 2025.