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Economy How to Legalize Pesos or Dollars in Cash Without Paying Any Fines?

Melibaires

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To legalize undeclared pesos or dollars in cash without paying any fines, individuals and businesses can take advantage of the new government regulations under Decree 608/2024. The government has established Special Asset Regularization Accounts (CERA) to facilitate this process. Funds, whether in national or foreign currency, can be deposited into these accounts until September 30, with no limit on the amount.


Key benefits of this program include:

Exemption from Special Tax: Deposits in a CERA account are exempt from the Special Tax, provided the funds remain in the CERA system until December 31, 2025. If funds are withdrawn before this date, a 5% Special Tax will apply.

Eligible Participants: Both individuals and legal entities can declare their holdings, whether domestically or internationally.

Investment Options: Deposited funds can be used to purchase government bonds, publicly traded stocks, negotiable obligations, and other financial instruments authorized by the National Securities Commission (CNV).

Legal Protections: Participants are protected from civil and criminal tax actions regarding the declared assets. Additionally, those who adhere to the program will maintain a zero tax rate on declared assets if they keep their funds within the system until the specified date.

To start the process, participants must open a CERA account in their name and transfer funds from their bank account. Once deposited, these funds can be used for specific investments as outlined by the CNV, including real estate projects and other productive investments. This initiative offers a structured and legal way to regularize previously undeclared assets.
 
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