Economy Minister Luis “Toto” Caputo confirmed that those who adhere to the simplified earnings regime will be able to “immediately use” the dollars deposited at Banco Nación. Through a bold message on his social network account
“They deposit their dollars in the bank and can immediately use them to make the consumption they want or to save by earning interest, like anywhere else in the world,” added the head of the Palacio de Hacienda.
Caputo accompanied his post with the publication of another user who said: “Now that we have a tax innocence law and the ARCA and UIF information system no longer requests information, I hope that the market companions will not break the balls even more of all savers who want to invest a few dollars in the black.” It can be seen that the economic chief indicated that he liked this comment.
The banks’ demand
The country’s four banking associations, meanwhile, sent a communication to the central bank calling for the creation of a working group to clarify the “interpretive criteria” for the application of the Tax Innocence Law.
The banks point out that the law passed by Congress “introduces significant changes to the regulation of criminal tax law, in particular with regard to the structure of the crime of simple tax evasion, the rules of conduct required of taxpayers before the Ministry of Finance, as well as cases of serious tax evasion, with a direct impact on the compliance and control processes of the financial system.”
With this note, the banking associations formally expressed their opposition to the government’s proposed introduction of “mattress dollars” without ensuring more comprehensive legal protection of all the regulations that apply to them.
Markets
Shares fell as much as 9% and the Merval closed with a negative balance at the start of the final week of the year, while country risk was at 571 basis points, according to JP Morgan’s gauge, after falling 1.60%.
Rava Bursátil analyst Milo Farro pointed out that “financial assets were closed under pressure due to the volatility of metals. In Argentina, the Merval and Transener fell due to the first reports of its sale.”
New York saw the most declines in ADRs. The losses came from Pampa Energía (-1.74%), Edenor (-1.68%) and Grupo Financiero Galicia (-1.20%). In public securities, the AL30 rose 0.09% and the AL35 gained 0.31%.
The official dollar closed yesterday at $1,425 for buying and $1,475 for selling in the Banco Nación rate, unchanged from the last closing price.
In the informal market, the parallel exchange rate is above $1,530. The wholesaler was at $1,457, up 0.5%.
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