The Senate has enacted the “Tax Innocence” project, which aims to promote the laundering of dollars acquired on the informal market, one of the objectives proposed by the Minister of Economy Luis Caputo and supported by President Javier Milei.
There were 43 yes and 26 no answers. Beyond the libertarian bloc, the initiative was supported by the PRO, the Radical Civic Union (UCR), senators – even Peronists – with terminals in governors and others playing alone in the upper house. The rejection came from the entire Peronism-Kirchnerist party led by José Mayans.
The rule introduces changes to the punitive tax system (Law 24,769); on tax procedures (Law 11,683) and the Civil and Commercial Code of the Nation; and a simplified affidavit.
The initiative creates a “simplified income system” that the government says taxpayers who comply will be “protected forever.”
This system, whose accession provides for a capital limit of up to 10,000 million pesos, guarantees taxpayers that they will not have to report changes in capital, nor will their consumption be controlled.
This means that ARCA only charges them income tax on the income they invoice, regardless of any capital growth (which is not controlled) and consumption is deducted from this tax base.
Article 39 of the project “establishes the discharging effect of the payment if the contents of the affidavit proposed by the ARCA are accepted and the payment is made on time; except that revenue has been omitted.”
Increases the amounts at which a person is deemed to have committed the crime of simple evasion from $1,500,000 to $100,000,000. In order for the conduct under investigation to be classified as “serious evasion,” the minimum amount must exceed 1,000 million pesos (no longer 15 million).
On the other hand, the limitation period for tax obligations will be shortened from five to three years. ARCA will not take criminal action as long as the debt and related interest are paid, although this benefit only applies once per taxpayer.
If the complaint has not yet been filed, it will expire if the taxpayer withdraws from these obligations by paying an additional 50% within 30 working days of notification of the complaint.
Although the project aims to relax tax controls, the amount of fines for filing affidavits will increase after the deadline.
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