I approved the project Tax Innocence Act, Various government officials called for the saver go to the bank Deposit your undeclared dollars and start using them to achieve the desired consumption or to earn interest.
According to Economy Minister Luis Caputo, companies should not ask people for more information than they do Proof of compliance with the simplified earnings regulations, And if they demand further requirements, they can contact the Banco Nación, whose president will instruct them to strictly comply with the law.
But beyond that, tributaries pointed to it ARCA regulations are still missing and that the fact that one has opted for the simplified income regime Nothing changes for banks. You are required by Law 25.246 and regulatory standards to report unusual events. For example, it was shown by one company that a person who wants to deposit, say, $100,000 without documentation must create a Suspicious Transactions Report (ROS).
“The banks will not say anything on the issue, but here we need to issue a rule from the central bank instead of tweeting. This already happened in the middle of the year when they announced money laundering and then never did anything. The banks are governed by the central bank,” said sources from an organization that did not want to be named.
In the same sense, Sebastian DominguezCEO of SDC Asesores Tributarios, said that according to the taxpayer Depositing in dollars can trigger a suspicious transaction alert for the bank and lead to a request to substantiate the source of the money. And if the depositor cannot justify this at the company’s discretion, the bank may issue a ROS and even close the account.
“The fact that the only thing that is stated on these funds is that they adhere to the simplified income regime I don’t see that the banks will consider this a valid manifestation to justify the origin of the money. So it depends on how the taxpayer usually handles his deposits with the bank, for example to determine whether there is a problem with the account. And that’s not a whitewash, okay? That’s why you have to be very careful and wait for the ARCA regulations and discontinuation. It’s a complex topic; Statements as simple as “go and deposit” are very risky and pose a risk to anyone who goes and does this today,” he warned.
WhileCesar Litvin, The LL&A CEO said that the Financial Information Unit (UIF) retains its powers and that banks must comply with anti-money laundering regulations, but clarified this If the person is a customer who is already working with the company and arrives with “cushion funds,” no STR should be generated.
“If the client is an NN who brings a lot of money, and it is not known what activities he carries out, it is possible that a report of suspicious operations will appear, where the FIU will have to consider whether to conduct an investigation or not. But from a tax point of view, with ARCA, the taxpayer will have no consequences if the origin of the money is legal,” he added.
In addition, Litvin believes that there is still a gray area regarding the simplified profit regime, since the executive branch has the authority to set more requirements than those contained in the law, which provides for a total income of up to $ 1,000 million per year, assets of up to $ 10,000 million and no property of large national taxpayers.
“The sooner it is clarified whether there will be further requirements or not, the better,” he noted.
Finally, the tax lawyer Diego Fraga He warned that we need to keep an eye on local tax administrations. “Beyond the new national regime, we must monitor what the provinces and the city of Buenos Aires are doing. If they do not bring their legislation in line with the Tax Innocence Law, “They could continue to assume an ‘unjustified capital increase’ and claim local taxes as gross income.”
In addition, when formalizing funds in bank accounts or virtual wallets, he pointed out that we must not forget that there are provincial prepayment regulations. In Buenos Aires province, for example, Sircreb will retain a percentage of each bank balance and the new Sircupa will do the same with payment accounts. Rates can be up to 5% depending on the activity. This means that by “laundering” the money, some of it would be lost through automatic withholdings.
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