The Ministry of Economy has decided to extend the deadline for declaring adherence to the Asset Regularization Regime. What is the schedule and when will the money be available?
He Ministry of Economy finally resolved the extension of the money laundering, following the request of banks and accounting firms. The extension to make the declaration of adhesion to the Asset Regularization Regime which expired on September 30, was extended to October 31, 2024 inclusive.
In this way, the New dates for the three stages money laundering will be the following:
- Stage 1: from 1 October 2024 to 31 October 2024 inclusive.
- Stage 2: from November 1 to January 31, inclusive.
- Stage 3: from 1 February 2025 to 30 April 2025 inclusive.
From this resolution, all people who wish to, will be able to deposit their money in a bank. until October 31st inclusive and they will be able to withdraw it from November 1st. Only the Regularized cash until September 30 It could be partially or fully withdrawn from the October 1st, as originally stipulated.
From the day any amount is withdrawn in cash, additional amounts cannot be regularized.
Why did the Government agree to change the deadlines?
For several weeks now the accountants They were asking the AFIP to modify the deadlines, due to operational problems and also to give people more time to define their situation.One of the arguments put forward by the tax authority is that the deadlines are set in the text of the law and that it was therefore difficult to make changes to it.
But the law also states that the The Executive Branch could extend the deadlines as long as the time periods between stages were maintained. This requires a decree, which the AFIP will then have to regulate through a General Resolution. This entire legal process will take place in the next few hours.
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How much money has already been declared?
According to bank estimates, some 100,000 banks have already been opened. 100,000 Special Asset Regularization Accounts (CERA). Until a few days ago it was estimated that the amount of dollars declared exceeded US$4,000 million, but the financial sector already estimates that could have earned over US$8 billion.
If so, it would be a Great news for the Minister of Economy, Luis Caputo, which needs to somehow increase the reserves of the Central Bank and thus deepening the fall of financial dollars.
Source: Ambito
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