The Government launched a new fiscal package which includes a program of money launderingdesigned to regularize assets, both in the country and abroad. This program offers a unique opportunity for human beings, undivided estates and companies tax resident in Argentina as of December 31, 2023, as well as for former Argentine tax residents who have not lost their status.
The money laundering program is divided into three stages, each with its own deadline and corresponding rate:
– Stage 1: Until September 30, 2024, with a rate of 5%.
– Stage 2: Until December 31, 2024, with a rate of 10%.
– Stage 3: Until March 31, 2025, with a rate of 15%.
It is important to highlight that the Amounts less than US$100,000 are exempt of tax payments between members, offering a significant advantage for those with smaller assets.
The tax is paid in dollars, with 75% paid in advance by the deadline for each stage and the remaining 25% thereafter. This modality facilitates financial planning and ensures gradual compliance.
Money laundering: investments eligible for a 0% rate
The program also offers alternatives to pay a 0% rate on specific investments, encouraging productive investment and economic development. These investments include:
- Negotiable Obligations.
- Shares in Mutual Investment Funds (FCIs).
- National, provincial, municipal and/or Autonomous City of Buenos Aires (CABA) public securities.
- Shares placed by public offering.
- Certificates of participation or debt securities of trusts that promote productive investment.
- Direct or indirect investment in real estate projects that are starting up.
For those looking for attractive investment options within this framework, our recommendations focus on Fixed and variable income instruments that promise competitive returns and stability.
In the fixed income area, we suggest Negotiable Obligations (ONs) such as YPF 2026, with an estimated IRR of 8.75%, and Vista Energy 2029, with an estimated IRR of 6.90%.
Refering to sovereign incomewe like the Bopreal BPY6D, maturing in 2026 and an estimated IRR of 23.75%and the Global 2035 (GD35), with an estimated IRR of 19.80%. Regarding bonds sub-sovereigns, we see potential in Chubut 2030, with an estimated IRR of 14.90%.
In the equity field, we recommend energy companies YPF (YPFD), Central Puerto (CEPU) and Pampa Energía (PAMP), as well as in the construction sector Loma Negra (LOMA) and in the financial sector Rofex-Matba (MTR).
It is important to highlight that in order not to pay the rate, You must open a Special Asset Regularization Account (CERA) in a bank in Argentina and another in an ALyC in order to make the investments we are recommending.
For cash, specific procedures are established, in Argentina, cash must be deposited until September 30, 2024 in a “Special Asset Regularization Account” in banks or Settlement and Compensation Agents (ALyCs). However, outside Argentina, cash must be deposited in a bank abroad by September 30, 2024, and can be transferred to the Special Account.
Funds deposited in special accounts are exempt from tax calculation provided that:
- Remain in special accounts or eligible investments until December 31, 2025.
- Are allocated to eligible investments.
- The results of the investments also remain in the special accounts.
To open a special account, the client must have a special bank account with identical or joint ownership. ALyCs must request relevant supporting documentation to verify balances and ownership data.
Funds may be withdrawn exclusively to pay the money laundering tax or the tax on personal property (from the special payment regime for personal property tax, or REIBP). In addition, transfers between special accounts will not generate withholdings.
It is crucial to note that subjects who enter the money laundering program will not be able to enroll in future money laundering programs until December 31, 2038.which underlines the importance of taking advantage of this unique opportunity.
The new money laundering program in Argentina represents a significant opportunity to regularize assets and benefit from advantageous tax conditions. The suggested fixed- and variable-income investments offer attractive returns and can help diversify and strengthen investment portfolios. It is essential that interested parties carefully evaluate the available options and act within the established timeframes to maximize the benefits of this program.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
