It is important to know the transfer limits established by ARCA to avoid having conflicts with the entity.
The Customs Collection and Control Agency (ARCA) took the place by decree of the Federal Administration of Public Revenues (AFIP) at the end of October 2024, and from that moment inherited all its responsibilities and tasks as a government entity. This includes procedures, shifts and the administration of the monotribute, among others.
Among the recent modifications that came with the change in management, the controls of the movements and transactions with credit, debit and virtual wallets. These are the limit values that can be handled when making transfers and save on these mobile applications.
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Who can be investigated by ARCA
The recent ARCA regulations require financial entities to report any monthly balance that they reaches or exceeds $700,000 in virtual wallets. Likewise, transactions that involve transfers over $400,000without valid justification, will be investigated to ensure that the funds have a legitimate origin.
Although the main focus is on the operations accumulated monthlythere is also the possibility of investigating multiple transfers done in a single day if these generate suspicion.
What data can ARCA request?
If ARCA detects suspicious movements in an account, it can require the following documentation to justify the operations:
- Purchase and sale tickets.
- Justification for the sale of shares or companies.
- Pay stubs or proof of retirement benefits.
- Billing for the last few months.
- Monotax Certificate.
- This control aims to ensure that transactions are legitimate and transparent.
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.
