Money laundering: AFIP enabled the payment of a tax in dollars from abroad

For the first time in its history, the AFIP enabled taxpayers to pay a tax using dollars. The regulatory change is focused on those who adhere to the Special Regime for Asset Regularizationcommonly known as bleach of capitals.

The leading body Florencia Misrahi announced that in the next few hours the General Resolution No. 5567/2024 will be published in the Official Gazette, which will allow “make the mandatory advance payment of 75% of the Special Regularization Regime through an International Bank Transfer (IBT) in US dollars, and also the remaining balance.”

The new payment option will be aimed at those who access the money laundering promoted by the Government of Javier Milei.

“For advance payment, the last transfer must be ordered before September 30 in the case of the first stage.. It should be noted that it is possible to externalize in stages, with the last transfer defining the tax rate to be paid (5%, 10% or 15% as the case may be)”, reported the Federal Public Revenue Administration.

AFIP has enabled the payment of taxes in dollars for money laundering: what to keep in mind

Taxpayers who want to access the benefit will have to comply with the procedure established by the AFIP and they must ensure that the transfers “are ordered at the bank of origin abroad, before the due dates established for each stage,” they explained.

At the same time, They must pay the remaining balance of the special tax and, if necessary, enter the outstanding balance of the advance payment increased by 100%, using the same criteria, that is, ordering the transfer before the corresponding due date.

He Asset Regularization Regime, commonly known as money laundering, It was established by Law No. 27,743, which allows individuals, undivided estates, and other subjects, tax residents in Argentina as of December 31, 2023, as well as former tax residents who lost that status before that date, to join.

This regime was regulated by Decree No. 608/2024 and other subsequent ones, which established the law of Palliative and Relevant Fiscal Measures.

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AFIP has enabled the payment of taxes in dollars for money laundering: How should the transfer be made?

The national body announced how they should do the taxpayers to be able to access the benefit announced this Sunday. The steps to follow are as follows:

1 – Establish contact with the banking entity in Argentina.

2 – Generate the Transfer Order, stating:

• Currency: US dollars

• Beneficiaries: AFIP, placing the legend “RRA27743” plus CUIT/CUIL/CDI of the interested party in field 70 of the Swift MT 103 message.

• Account to which the funds are to be received, the amount to be paid and the expenses.

3 – VEP Generation: From the Asset Regularization Regime Portal, select the International Bank Transfer option and identify the receiving bank.

4 – Communication to the bank of the VEP to be cancelled: You must provide data such as VEP number, CUIT, CUIL or CDI. In addition, you must ensure cancellation before the expiration of the generated VEP.

5 – Verification of accreditation: The taxpayer must confirm the accreditation at the Argentine banking entity.

6 – The Bank will make the payment of the VEP effectivewhich will be valid for up to 24 hours from the day of its generation.

7 – Payment Confirmation: The taxpayer is responsible for verifying that the VEP has been paid from the Asset Regularization Regime Portal service.

AFIP reported that taxpayers must take into account that both expenses and commissions “will be the taxpayer’s responsibility,” “funds must be sufficient, considering expenses and commissions” and that “all operations related to the VEP will be governed by Argentina time.”

AFIP’s new clarifications for the Regularization of Assets

The AFIP added new clarifications for the purposes of regulating the Asset Regularization Regime (Money Laundering) regulated by Law No. 27,743, Title II and regulated by Decree 608/24 and General Resolution 5,528.

Through the already disseminated General Resolution 5,561, the tax collection agency first modifies article 20 of RG 5,528 by adding a final paragraph to establish for the self-employed that the ownership declared voluntarily within the framework of the money laundering It should not be taken into account as a precedent for the purposes of exclusion or recategorization of the small taxpayer reporting with respect to the periods prior to said declaration..

The rule then introduces changes regarding the provision of reliable evidence and any other documentation necessary to prove the ownership and/or value of the regularized assets.