The regulatory body reported on the amounts that are allowed without requiring documentation to justify the movement.
The purpose of these regulations ARK is ensure that financial operations are carried out in a clear and transparent mannerin addition to allowing the justification of the origin of the funds involved in the operations. It is important to consider that these regulations not only apply to Argentine pesos, but also to all foreign currencycryptocurrency or digital currency.
In the event that ARCA considers strange movements in your account, it may ask you to present purchase and sale receipts; documents justifying the sale of shares or a company; pay stubs or proof of retirement benefits; billing for the last few months; proof of the monotribute and certificate of funds issued by a public accountant.
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How much money can be transferred between own accounts
Starting in January, the amounts that ARCA will investigate are:
$600,000:
- Total consumption with debit cards in the country.
- Total income or expenses in virtual wallets.
$1,000,000:
- Total bank credits registered in the month.
- Total time deposits constituted in the month.
- Cash withdrawals in the country or abroad, over the counter, ATM or any other means.
- Final balance in bank accounts as of the last business day of each month.
- Final balance in virtual wallets as of the last business day of each month.
$2,000,000:
- Applicable only for virtual wallets, in case of bank or virtual transfers greater than said amount.
Which virtual wallets are under ARCA’s sights?
Currently the virtual wallets that ARCA regulates are the following:
- Payment Market
- Personal Pay
- Orange
- Uala
And for the moment You can’t monitor PayPal since it is a foreign currency that does not belong to any bank, but to a private company.
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.
