Economy AFIP increased the amount from which banks and virtual wallets must report the movements of their clients

[Melibaires]

Good news! AFIP finally increased the amount from which banks and virtual wallets must report the movements of their clients.

https://twitter.com/x/status/1794035234402406829

 

[Larry]

I think it's safe to say that all of these places are all sharing financial information now. AFIP wants to make sure that people are declaring all their income.

 

[Vero]

But even with these increases many people are having issues now. My sister gets help from her daughter that lives in US. She received a letter from her bank telling her that there is a limit of the amount of money that is transferred into her account. She is retired and not working. Her daughter supports her but her bank Santander Rio is sending warning letters to her.

 

[Wally]

But even with these increases many people are having issues now. My sister gets help from her daughter that lives in US. She received a letter from her bank telling her that there is a limit of the amount of money that is transferred into her account. She is retired and not working. Her daughter supports her but her bank Santander Rio is sending warning letters to her.

I think this is mainly an issue if you're not declaring enough income. It seems like AFIP is communicating with the banks so they can see how much you declared as making each month/year and if it doesn't match with how much you get in inflows or spending on your bank/credit cards you are flagged right away. This is happening with other friends too.

 

[Val]

Recently, AFIP has intensified its financial controls, cross-referencing all data with banks, indicating much stricter oversight than before. It’s crucial to be aware of these changes to avoid any unpleasant surprises. Regarding transfers received from family members, if AFIP questions those transactions, you just need to prove that the money does not come from any economic activity for AFIP to dismiss it.

Billeteras virtuales: preguntas y respuestas sobre los montos que deben informar a la AFIP

Desde 2019, las billeteras virtuales están obligadas a informar a la Administración Federal de Ingresos Públicos (AFIP) los movimientos y saldos de las cuentas cuando superan ciertos montos....

chequeado.com

 

[Digital Nomad]

No wonder everyone and their brother here uses cash for everything. The newer bigger bills make it so much easier! I am constantly in restaurants and see locals always paying in cash. I guess no one wants to get audited!

 

[Melibaires]

Older people may prefer to pay in cash since they aren't accustomed to the digital age. However, the young adults in my circle use about 80% of their money through Mercado Pago. In fact, I have a friend who gets frustrated with her 24-year-old son because he never carries cash in his wallet. Additionally, services like Uber and Didi always require cash payments, so I think it's wise to have some cash on hand for those situations.

In Argentina, 8 out of 10 adults use digital wallets, and this figure rises to 90% among those under 40. Additionally, digital wallets are the primary investment tool for 54% of users.

Uso de billeteras virtuales en Argentina abril 2024 | Informe de la Cámara Argentina Fintech – FECOBA

fecoba.org.ar

 

[Pink Panther]

Older people may prefer to pay in cash since they aren't accustomed to the digital age. However, the young adults in my circle use about 80% of their money through Mercado Pago. In fact, I have a friend who gets frustrated with her 24-year-old son because he never carries cash in his wallet. Additionally, services like Uber and Didi always require cash payments, so I think it's wise to have some cash on hand for those situations.

In Argentina, 8 out of 10 adults use digital wallets, and this figure rises to 90% among those under 40. Additionally, digital wallets are the primary investment tool for 54% of users.

Uso de billeteras virtuales en Argentina abril 2024 | Informe de la Cámara Argentina Fintech – FECOBA

fecoba.org.ar

Definitely the younger generation all use Mercado Pago. I believe taxis now all accept payments from digital wallets too now.

 

[Tango]

Does anyone know if I have a DNI and just use my American credit cards and an ID in from the US if there is any way AFIP will be able to see any activity? When I go to the supermarket they ask for DNI and I just give them my State ID and they input that number. There is no way they can see those details? I don't like the idea of sharing my DNI with any store. I don't think they have a need to know what I am buying and where.

 

[Betsy Ross]

Does anyone know if I have a DNI and just use my American credit cards and an ID in from the US if there is any way AFIP will be able to see any activity? When I go to the supermarket they ask for DNI and I just give them my State ID and they input that number. There is no way they can see those details? I don't like the idea of sharing my DNI with any store. I don't think they have a need to know what I am buying and where.

Hi @Tango. No there is no way for them to know and to link it to your DNI. Even if the name matches for all they know you are a tourist in Argentina. The only way they would know is if you give your DNI # at the time you are buying. I totally agree with you there is no reason they need to know what you are buying. I have been living here for over 15 years and I only use my Drivers license from the USA. The only thing that is traced to my DNI # is my Mercado Libre orders.

Nothing good can come of using your DNI # when you buy things. Even if you are paying all the taxes you need to be paying it seldom makes sense to give this # at the store. All utility bills, medical premiums for private healthcare, phone bills, internet bills that you signed up with your DNI is automatically reported to AFIP. So on those things if you signed up with your DNI it's already being reported but if you're buying with your out of country ID you are ok.

We posted some about this in another thread.

Economy - The AFIP monitors your consumption with credit and debit cards: from what amount it observes them - Infobae

The AFIP monitors your consumption with credit and debit cards: from what amount it observes them - Infobae Source: https://www.infobae.com/economia/2024/05/10/la-afip-vigila-tus-consumos-con-tarjeta-de-credito-y-debito-desde-que-monto-los-observa/ May 10, 2024 The collecting entity...

www.expatsba.com

 

[legend]

Starting in September, AFIP will investigate transfers over $400,000, whether sent or received to another account.

AFIP pone la lupa sobre billeteras digitales: investigará las transferencias que superen cierto monto en septiembre

El organismo monitorea a los usuarios de billeteras digitales que superen ciertos montos en saldos mensuales, como parte de una actualización de sus controles fiscales

www.infobae.com