He Minister of Economy, Luis Caputoreported this Friday that money laundering reached about US$22.5 billion in the first stage intended especially for the declaration of dollars and cash.
“Today the first stage of the Asset Regularization process ends. The amount declared in cash until yesterday was US$20,085 million dollars,” Caputo stated through the social network
“Many thanks to all Argentines who have trusted in this profound change of economic, political, cultural and institutional course that President Javier Milei is carrying out,” the statement said.
The result of the first instance of money laundering, which was what most interested the current administration, exceeded by 400% the estimates that were made prior to the start of the process. The result is due, more than anything, to the fact that it is a very generous and cheap plan.
In any case, the zero cost, for those who They declared less than US$100,000 in cash more than compensated for any subsequent risk, as occurred with the externalization process launched during the government of Mauricio Macri under the promise that the rates of Personal Assets were not going to be increased, something that was later done.
Of the 105,000 Special Asset Regularization Accounts (CERA) that were opened, the majority were to launder small amounts, below the threshold, that is, they bleached at zero cost. It must be remembered that those who had less paid nothing, but those who had more paid 5% of the total amount declared.
Technically, as of Saturday, November 9, those who have laundered money in special accounts will be able to withdraw it, as long as it is less than US$100,000. Those who bleached more andThose who want to avoid paying the tax will have to leave it in the CERA account system until December 31, 2025.
This implies that people will be able, for example, to buy a home and pay with a transfer to another CERA account of the seller, and if the seller keeps the money there, he or she will not pay any taxes. Investments may also be made in State bonds, but as long as the money remains within the CERAs ecosystem until the end of the legal term.
An important fact to keep in mind is that although Money laundering dollars have been entering for two months now, the total deposits in the banks remain at just over US$31,000 millionwhich implies that there was low withdrawal. That is, the dollars are still deposited, which shows confidence in the system. Some believe that 20% went to common savings accounts, which is the step prior to a retirement.
Starting Saturday at zero, a second stage opens, in which the special tax will rise to 10% and in which only accounts or registrable assets can be declared. Here the threshold of US$100.00 acts as a non-taxable minimum. The special tax is paid for what is exceeded. That is, a house of u$s200,000 pays for only US$100,000 quoted at the official value, which also makes the payment cheaper.
The government can aspire, in some way, to get a few more dollars, as long as there are Argentines abroad who declare accounts and repatriate the funds. To do this, the Customs Collection and Control Agency (ARCA) has information from the United States tax authorities.
On the other hand, according to estimates made timely by the consulting firm 1816 based on the estimates of collection of the special tax, presented at the beginning of the administration by the economic team, the total amount of money laundering It could be US$40 billion, including cash and assets.
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.
