According to sources in the banking sector, there were no movements related to money laundering in the first two days of October. It’s like the month hasn’t started. What can you invest in without paying 5% tax, for those who declared more than US$100,000
The agencies and Bank branches are quiet for the moment. If it was thought that the first deadline set for the money laundering had ended, on September 30, everyone was going to run to get your dollars, At least that is happening for now.
From the banking sector, a source informed Scope that, “For now, we see very little movement of those ‘liberated’ accounts.” “They neither withdrew much, nor did they go to normal accounts, which is the first step, because cash cannot be withdrawn from the Special Asset Regularization Accounts (CERA),” they noted.
As indicated by the sector, for the banks “It is almost as if October had not started.” and indicated that most of what was declared before September 30 is still in CERA accounts.
The data is very good for the economic team led by Minister Luis Caputo, and for the president of the Central Bank, Santiago Bausili, who have to strengthen the entity’s international reserves.
Laundering: how many dollars came in
According to information from the Central Bank, As of September 30, the amount of dollars deposited in bank accounts amounted to US$31,506 million, which indicates that during September they entered US$11,888 million.
In this way, with what is received during the extension period, the sum of the laundering of dollars in cash It is possible that it exceeds US$12 billion.
Estimates from the BDO accounting study indicate that 70% of what was declared would correspond to amounts less than US$100,000, so they do not pay the 5% excise tax. The remaining 30% corresponds to higher amounts and are taxed in case of withdrawing them before December 31, 2025.
But there are possibilities to invest the money or make transactions without paying the tax, as long as it remains within what can be called the “CERA ecosystem”.
For example, a person can buy a property for US$200,000 and transfer the dollars to another CERA that the seller has opened to receive the funds. You can also purchase works at any level of progress.
What can money laundering dollars be invested in?
There is the possibility of “moving” the money without paying the tax. These are the windows that open in that sense:
- Bonds, bills and other public securities. Both those issued by the National State and those of provinces, municipalities and the City of Buenos Aires. This includes the “Bopreales” of the Central Bank.
- EITHERnegotiable obligations. Debt bonds of companies that have been issued in the local market, with a public offer guaranteed by the National Securities Commission (CNV).
- Company actions that are listed in the Argentine market, with a public offer authorized by the CNV. Does not include Cedears.
- Common Investment Funds (FCI) premises focused on investments admitted for laundering.
- Trusts for productive, real estate or infrastructure projects in the country, or for the financing of Micro, Small and Medium Enterprises (MSME).
- Deferred payment checks and promissory notes traded in markets authorized by the CNV.
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.
