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More than 42,000 properties in Argentina and abroad were declared in the money laundering process, the Government reported - Infobae
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Más de 42.000 inmuebles en la Argentina y el exterior fueron declarados en el blanqueo, informó el Gobierno
De ese total, el 95% está en el país, mientras que el resto se distribuye en el exterior. Cómo avanza el sinceramiento fiscal que habilita la compra de unidades en pozo, listas para habitar y otros tipos de propiedades
www.infobae.com
December 27, 2024
Of that total, 95% is in the country, while the rest is distributed abroad. How is the fiscal amnesty that enables the purchase of off-plan, ready-to-live-in units and other types of properties progressing?
By Jose Luis Cieri
More than 42,000 properties were regularized within the framework of the new tax whitewash in Argentina (Illustrative Image Infobae)
The Customs Revenue and Control Agency (ARCA) reported in the last few hours, through its account on the social network X, that 42,545 properties were declared in the money laundering campaign promoted by the Government months ago.
Of this total, 40,530 properties are located in Argentina, with an estimated value of USD 2,004 million , while 2,015 properties are located abroad, with a valuation of USD 241 million . This process, which seeks to regularize hidden assets, was considered a success in terms of volume and collection.
The money laundering registered, until the end of the year, a total declared sum of USD 32,151 million , according to what was reported by Infobae this Thursday. In this regard, the tax specialist Sebastián Domínguez , highlighted the relevance of these figures and pointed out that the money laundering allows the owners to regularize their tax situation, either by paying taxes or taking advantage of the specific conditions of the regime.
According to Domínguez, this process “not only involves the declaration of previously hidden assets, but also opens the door for owners to begin paying taxes on concepts such as profits from rent or register as self-employed. “It is a significant volume of laundered dollars, which represents a relevant value for the Argentine economic scenario,” he said.
Details of the process and stages of bleaching
The tax whitening regime includes different stages that allow taxpayers to declare assets not previously registered, with conditions that vary depending on the time at which the adhesion is made.
In the early stages of the process, properties worth up to USD 100,000 could be laundered without paying taxes. This measure encouraged thousands of property owners to regularize their situation, although some chose to wait until later stages to include assets of these values since the non-taxable minimum applies to all of them.
The schedule establishes that the second stage of the tax clearance process will run from November 9, 2024 to February 7, 2025 for the declaration and advance payment, with a deadline for filing the sworn statement and payment of the regularization tax balance set for March 7, 2025 for the declaration and advance payment. The third stage, for its part, will cover from February 8, 2025 to May 7, 2025 , with a final deadline to comply with the remaining tax obligations until June 6, 2025 .
Domínguez also pointed out that, in some cases, taxpayers chose to join the regime in advance to avoid the impact of the exchange rate on the calculation of the Personal Property Tax (REIBP). However, others decided to postpone their declaration and prioritize the specific conditions of each stage of the whitening process.
Impact on the real estate sector
The money laundering process had considerable implications for the real estate market.According to Alejandro Braña , a real estate expert and member of the Buenos Aires Real Estate Association, several of the properties declared were already in the possession of their owners for years, even generating income from rentals, but had not been registered for tax purposes. Braña explained that, in these cases, the money laundering does not only involve the acquisition of new properties, but also the regularization of existing assets.
The laundered funds can be used to purchase properties, both new and used .
“In the case of used properties, ownership is transferred at the time of signing the deed, as occurs in any conventional real estate transaction. This allows taxpayers who have regularized their situation to use the declared money to make investments in the sector,” Braña added.
Room for growth
Although the current figures are significant, the process of laundering taxes still has room to grow. According to Domínguez, some taxpayers with lower-value assets, such as accounts abroad worth less than USD 100,000 , chose to wait for later stages to regularize their situation. This could further increase the volume of assets declared in the coming months.
Many of those who opt for money laundering opt for properties to rent out in search of a considerable income (Illustrative Image Infobae)
The regime also establishes different tax rates depending on the time at which the accession is made for the rest of the assets, including real estate. For properties exceeding USD 100,000 , the rate will be 10% in the second stage and 15% in the third stage on the surplus. These conditions could influence the decision of taxpayers on when to declare their assets.
In general terms, tax laundering represents a key tool for the Argentine government in its efforts to increase tax revenue and combat evasion.
According to experts, the success of this process is not only measured in terms of the amounts declared, but also in its ability to integrate more taxpayers into the formal system, seeking to generate a positive impact on the country's economy.
“With the next stages of the regime still to be developed, the outlook remains open for more owners to regularize their assets and contribute to strengthening the tax system,” Domínguez concluded.
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