The Federal Public Revenue Administration (AFIP) regulated this Wednesday the procedure to adhere to money laundering. Two days before, the central bank had given details of the scope and characteristics of the opening of accounts in banks. It is estimated that the Government could consider the plan successful if the details are made public. between US$20 billion and US$30 billion and A little-known fact is that financial institutions will be able to collect commissions.
Communication “A” 8062 published by the BCRA highlights that all natural persons who were residents before December 31, 2023 will be included. Public officials and their families, bankrupts, convicted persons and others are exempt. Assets can be laundered in Argentina and abroad.
Finally, it is clarified that an affidavit must be submitted with documentation in possession, holding or custody as of December 31, 2023, in accordance with each asset and the provisions of the regulations.
Money laundering accounts: the characteristics
Regarding the special account for Asset Regularization, the entity reported the following:
- Opening and headlines: subjects who adhere to money laundering and others, from previous original accounts.
- Accreditations: cash or transfers. If the origin is from abroad, it must be made by the same holder.
- Fund movements: Immobilization until September 30 of this year, except up to US$100,000 and for onerous operations, with documentary support, or investments.
- Eligibility of transfers to other accounts: subject to withholding of the special money laundering tax.
- commissions: Banking entities are authorized to charge commissions up to the amount corresponding to savings account or checking account in dollars.
Martina Mastandreafinancial lawyer in dialogue with Ambit He commented that the regulations clarify that “if the total regularized amount is up to US$100,000, The amount deposited in this account can be transferred to another account of your own. before that date, provided that the amount is used in duly documented onerous transactions – understood as those that have the corresponding support of the relevant receipt (invoice, sales agreement, deed, among others) -“.
For Mastandrea, this point favors the capital market: “The Government wants people to invest, to boost market activity. It is one more measure to get out of the trap faster. The market needs capital injection and “bleaching can help.”
Money laundering: the three facts you need to know
Until when can you adhere to the whitening?
April 30, 2025 is the deadline to adhere to the whitewashingto file the sworn declaration and make the payment of the special tax.
The Executive Branch is empowered to extend this date until July 31, 2025.
What is the regularization date?
The Regularization date was set for December 31, 2023. The assets or property existing on that date may be regularized.
How the value of assets is calculated
The tax base for determining the special tax will be calculated in Dollars. Funds deposited in the special account will be excluded from the taxable base of the special tax.
The values measured in weights will be converted to dollars taking the exchange rate of $1,000defined by the Executive Branch as “Regularization Exchange Rate”.
Source: Ambito
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