The government is lobbying banks to accept “mattress dollars” without asking customers for proof, and has even ordered Banco Nación to start doing so. However, the taxpayers warn of the dangers of attempting to deposit undeclared funds only with the approval of the Tax Innocence Law.
A special case is that of those who They received pesos from legitimate operations and explained, but later they bought dollars in a cave to convert them into savings.
Can I deposit undeclared $30,000?
“The government’s strategy is Mobilization of savings, especially from individualsi.e. small and medium-sized savers. The deregulation measures and the tax innocence law target this sector,” explains Daniel Pérez from Studio Pérez & Fiocco.
“But, Those for whom their savings are not entirely legal will have to wait for the regulations and likely amnesties from law enforcement agencies: ARCA, the FIU regarding money laundering and the Central Bank. in connection with stock market violations,” he says.
“Currently It’s really dangerous for them to break into the system Savings or amounts not acquired legally. “The Tax Innocence Law is not an amnesty law,” he emphasizes.
What Happens to Legitimate Dollars Purchased in Caves?
“It’s one thing to deposit perfectly legitimate dollarsthat were saved by selling real estate or buying the $200: the banks will require fewer requirements. The problem is depositing dollars that are not covered, because then ARCA has the power to monitor where they come from because there is no amnesty,” says Pérez.
“But when it comes to deposits, there is a problem deserves attention, which I call “Sky Dollars.”What does that mean? These are legitimate operations in pesos, that is, an income in declared pesos with which the person bought dollars in a cave to cover himself,” he describes.
“I mean, well-earned funds from legal transactions in pesos, but which were illegally converted into dollars, since exchange transactions were not allowed unless they were made with the MEP dollar. What is the illegal situation?: Violation of foreign exchange regulations,” he adds.
“Although the pesos were legitimate,… Dollars were purchased illegally. There the person can be exposed; “If the central bank does not deregulate the situation, there may be violations of the Stock Exchange Act,” he emphasizes.
“One must Wait until the central bank “In any case, it provides that sanctions for stock exchange violations will be lifted before the law comes into force,” he concludes.
Is Tax Innocence Law Money Laundering?
The recent sanction of the so-called “Fiscal Innocence” by the Nation’s Senate must be placed within what has been termed “Fiscal Innocence.” “Argentine austerity reparations regime” introduced by the rules to simplify and deregulate procedures related to the investment and acquisition of goods, promoted by decree last May, says Pérez, considering the following:
This broader system, regulated by ARCA and the FIU, already included the Tax Innocence Bill.
This recently enacted law includes changes to:
- Civil and Commercial Code.
- Penalty tax system.
- Tax procedural law.
- Special social security laws.
- Creation of the Simplified Affidavit Systemwhich was further developed by ARCA from RG 5704/25.
This regime It is not money laundering or legalizationEssential elements such as tax and criminal amnesty or at least the enactment of certain sanctions are missing.
Compliance with the Simplified Earnings Regime has concrete benefits and arises from the same articles. It represents what we might call a “fiscal blockade.”
Article 39 of the Law contains the liberating effect of the payment. It stipulates that once the subject who has opted for this simplified modality accepts the contents of the affidavit proposed by the ARCA and makes his payment on time, his income tax obligations for the tax period in question will be considered fulfilled.
This means that the taxpayer benefits from the discharging effect of the payment in relation to this tax and tax period. unless the omission is subsequently proven in the profit and loss account or calculating an improper deduction and/or using invoices or other documents that turn out to be untrue.
Or be one concrete benefits, but with clear limitations. ARCA does not in any way lose its statutory verification and supervisory powers, emphasizes Pérez, warning of the dangers of attempting to deposit undeclared or cave-bought dollars with legitimate pesos, pending new clarifications from the BCRA, the FIU and the ARCA.
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