AFIP prepares to catch evaders after the money laundering

The money laundering launched by the Government has no “revenue raising purposes”, clarify sources linked to AFIP. “The aim is to broaden the taxpayer base and ensure that laundered money flows into the real economy,” they explain.

So far, they have registered around 150 real estate projects to raise funds. They also acknowledge that the opening of special accounts is incessant. Banco Nación alone has already registered around 1,500 Special Asset Regularization Accounts (CERA).

In this regard, the laundered funds They may be used for all types of purchases (used property, cars, land, etc.) with the only requirement that the buyer opens a CERA account (even if they have not joined the money laundering program).

The government insists that this money laundering is a “unique” opportunity because it is free and also has the guarantee of fiscal peace of mind until 2038.

It is worth remembering that you can join the asset regularization regime and deposit funds into the account (CERA) before September 30, 2024 to be exempt from the excise tax.

If the deposited funds do not exceed US$100,000, they can be withdrawn from the CERA circuit after September 30 without any type of retention.

The CERA circuit means that funds can be moved freely between special bank accounts (CERA) as many times as desired.

If the laundered funds exceed US$100,000, they must remain within the CERA circuit until December 31, 2025.

Since the intention of this money laundering is that these funds are poured into the economy, for this reason, it was decided that it collected is shared.

In this sense, no “They see it as a smart move for the provinces to put some kind of tax on these funds.”

For its part, Javier Bolzico The president of ADEBA said in a statement on Tuesday that “banks are essential players in the Asset Regularization Regime promoted by the Government. They provide the instruments (CERA bank accounts) and advice to clients to allow them to regularize their tax situation in this new stage of the country’s economic life.”

According to ADEBA, funds not yet declared, in the country or abroad, can be deposited through special bank accounts (CERA). These accounts are free of charge.

In the Pink House They trust that this whitewashing will be successful because of the advantages it has, while pointing out, that the AFIP is preparing itself with all the tools to later detect evaders.

Controls

In order to show the convenience of adhering, they use as an example the laundering of an asset of US$200,000. If the laundering is carried out, the special tax amounts to $5,000,000. Whereas, if the laundering is not carried out and it is detected by the AFIP, The debt would amount to $56,000,000 (it will include capital plus interest for non-prescribed periods).

In addition, the omitted taxes on the detected goods will be charged, plus accessories and penalties and if the omitted good exceeds 10% of the regularized assets, the release of the consumed goods will also be lost.

Once the tax whitening process is over (for the moment, there are no plans to extend the date of the 30th of this month), the AFIP plans to use the various agreements signed with tax authorities in more than 100 countries. In addition to these agreements, there is the one signed with the United States (Facta), whose first automatic exchange of financial information will begin towards the end of September.

Tools

The mechanisms available to the tax collection agency to gather information about the taxpayer are three: Inductive, Country Information and Information Exchange

Inductive

The following data will be analyzed:

• DDJJ presented
• Registrable assets
• Bank deposits in the country and abroad
• Investments
• Public and private securities
• Receipts issued and received
• Credit and debit card purchases
• Financial interests
• Virtual currencies
• Ships and aircraft of national and foreign registration
• Scientific, literary or artistic property rights, industrial rights, trademarks or trade names

Country information

Information regimes:

• International Operations (RICOI)
• Trusts established in the country or abroad – Passive income – Final beneficiaries
• CITI Notaries
• Representatives of subjects residing abroad – third parties involved
• Credit card administrators
• Financial institutions and digital or electronic management platforms (SITER)
• Account brokerage and virtual wallet managers
• Register of linked subjects
• Transport of funds, transfer of funds, custody or holding of cash and/or securities
• Argentine Naval Prefecture
• Provincial Real Estate Property Registries
• National Civil Aviation Administration
• National Directorate of Motor Vehicle Registries
• COTI – CETAE
• Migrations

Information from abroad

• Bilateral agreements with 29 countries, including Monaco and South Africa, which are on the “grey list” of countries under increased surveillance by the FATF.
• FATCA agreement with the United States, for the annual automatic exchange of financial information.
• OECD CRS multilateral agreement for the annual automatic exchange of financial accounts, with more than 100 jurisdictions. OECD Multilateral Convention for the exchange of tax information in all its forms with 146 countries.