What does the fine print say about laundering that the Government will launch
In this regard, they are considered “applicable rates for the externalization of the country’s and foreign assets” in three tranches, in case there is repatriation: the floor rate that would go up to a “low preferential” percentage and that would run from the entry into force until March 31, 2023. Instead, from April 1, 2023 to June 30, 2023 it would be “twice the previous rate” and also “4 times the initial rate” is added in the period from July 1, 2023 to September 30, 2023.
At the same time, the document maintains that there will be “increased applicable rates for foreign assets when there is no repatriation”where it is probable that the aliquots of the previous tranches (repatriation) will “double”.
The document states that “repatriation of assets shall be understood when the amount entered into the country as possession in foreign currency and the amounts generated by financial assets represent at least a percentage to be determined by the regulations of the total value of the assets in the outside that are declared”.
Among the benefits is that “Increases in assets not justified by the declared assets will not be considered” and that “the subjects covered are released from all civil, commercial, criminal tax, foreign exchange criminal, customs criminal and administrative infractions that may correspond; for the declared assets. Likewise, it maintains that “the subjects are released from Income Tax or Internal Taxes and Value Added, or Taxes on Personal Assets and from the special contribution of Cooperatives.”
On the other hand, it indicates that “a simplified regime is established with a special rate of the equivalent to half of the general rates when individuals externalize possession of national and/or foreign currency in cash in the country and the amount does not exceed 35% per year of the average annual income of the last 3 fiscal periods and with a cap of up to US$50 thousand ”. At the same time, he argues that “Only those taxpayers who paid the Solidarity Contribution (high contributive capacity) are excluded from the Simplified Regime.”
Government proposes to allocate the funds raiseda 20% to the specific Fund created (for this project) for the cancellation of debt with the International Monetary Fund, a 20% to subsidies to micro, small and medium businesses. Other 20% to the comprehensive Progresar scholarship program and 40% to programs and projects approved by the National Secretariat of Energy exploration, development, construction and maintenance of infrastructure, transportation and production of natural gas.
Source: Ambito
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