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New money laundering project: who it reaches and who is excluded - C5N
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Nuevo proyecto de blanqueo de capitales: a quiénes alcanza y quiénes quedan excluidos
Tras el fracaso de la Ley Ómnibus, el Gobierno reenvía por afuera un paquete de medidas fiscales entre los que se encuentra un renovado proyecto de regularización de activos.
www.c5n.com
March 14, 2024
After the failure of the Omnibus Law, the Government sends out a package of fiscal measures, among which is a renewed asset regularization project.
The Government will send out a package of fiscal measures, among which is a renewed money laundering project.
After the failed attempt to approve the Omnibus Law in Congress, the Government sends out a package of fiscal measures, among which is a renewed money laundering project .
Both residents and non-residents in the country may join this asset regularization regime, and they will have until December 31 to join through a sworn declaration.
Laundering will be divided into three stages for those who declare assets of more than US$100,000 : the first, from the day after the regime comes into effect until July 31, 2024, with an entry rate to the regime of 5 %; the second, from August 1 to September 30, will have a penalty of 10% and the third, from October 1 to November 30, will have a rate of 15%.
New money laundering project: assets achieved
The following assets, both in Argentina and abroad, are affected by money laundering:- National or foreign currency, whether in cash or deposited in bank accounts or any other type of entities.
- Estate.
- Shares, participation in companies, rights of beneficiaries or trustees of trusts or other types of similar assets or shares of common investment funds.
- Securities, including, without limitation, shares, bonds, negotiable obligations, certificates of deposit in custody, fund shares and other similar securities.
- Other personal property not included in previous sections.
- Credits of any type or nature.
- Rights and other intangible assets not included in previous sections.
- Cryptocurrencies, crypto assets and other similar goods.
- Other assets located susceptible to economic value, including assets and/or credits originated from insurance policies contracted abroad owned by tax resident subjects in Argentina under the rules of the Income Tax Law (text ordered in 2019 and its modifications), or with respect to which said subject residing in the country is a beneficiary.
New money laundering project: who is excluded
Public officials and their family members will be excluded from the money laundering program, in addition to those declared bankrupt, convicted of tax crimes, convicted of common crimes that are connected to non-compliance with their tax obligations or those of third parties.⬇️See attached document signed today.
