The minister of Economy, Luis Caputoannounced that the Government decided to extend again the end of the first stage of asset regularization, this time, until next Friday, November 8 inclusive.
“It was due to some computer problems and administrative regarding the transfer from abroad of the payment of the tax”, revealed the head of the Treasury Palace.
This stage, which concluded this Thursday October 31had already been extended by a month by the Government because the original deadline expired at the end of September.
In this way, the funds can be regularized between November 1, 2024 and November 8, 2024, whether or not funds have been regularized as of October 31, 2024, inclusive.
Besides, Those who withdraw – partially or totally – funds as of November 1, 2024, in accordance with the indicated regulations, will not be able to regularize additional amounts from that withdrawal date, explained the Government.
Along these lines, the funds regularized in the extension period provided for in this measure must remain deposited in the special accounts or assigned to the destinations and investments authorized by the legal norm until November 8, 2024, inclusive, the Economy clarified.
With the new extension, Stage two will begin next November 9 and will extend until February 7, 2025. both dates inclusive. And the third, will go from February 8, 2025, until May 7 of next yearboth dates inclusive.
“US$18 billion were deposited only in cash (until now), which we assume was a resounding success” this money laundering, assured the presidential spokesperson Manuel Adorni at a press conference.
In this framework, bank deposits in dollars already exceed the nominal maximum that they had reached on August 12, 2019, which was US$32,492 million. Today, they are already close to US$33,000 million, they can reach US$35,000 million on Mondayand is the highest level since February 2002, before the “corralito” opened.
Banking: details of the first stage
The first stage of the laundering process included a 5% tax rate for declarations exceeding US$100,000a percentage that will increase to 10% and 15% by the end of January and April.
Bank deposits in dollars are around almost US$32.5 billionaccording to the projection of private analysts consulted, which would mark an additional boost outside the amnesty program.
Government officials they are optimistic that these new dollars in the system could help local banks offer lines of credit to customers and stimulate growth.
ARCA’s details on maturities that do not fall into the extension
The Customs Collection and Control Agency (ARCA) recalled that this October 31, the “deadline to enjoy the benefit to ‘compliant taxpayers’ and the deadline for submitting the Affidavit and payment of the balance resulting from the Special Personal Property Income Regime (REIBP) for non-regularized assets (RG 5588/2024).
Source: Ambito
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