HomeTaxGovernment seeks to extend money laundering until May 31

Government seeks to extend money laundering until May 31

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The Government will promote a bill to extend until next May 31st the deadline for joining the regime bleach of capital and the wide tax moratorium which complements the plan.

The closing date was already being discussed by the economic team, as some are inclined to extend the closing date of the money laundering only until April 30. 

The idea of The extension of the deadline arose initially as a result of a claim by several Provinces who asked the Government for more time to adhere to the moratorium on tax debts. 

Supported by the governors' claim, The economic team sees the opportunity to extend also the tax amnesty regime, which is already exceeding the US$120.000 billion declared.

El obstacle lies in which as the finish date Both the money laundering and the moratorium had originally been fixed by law, must be The congress who through the approval of a new bill, extend the deadlines which until now expire at the end of the month.

As a premonition, through a decree of necessity and urgency, last week, the Ministry of Finance reopened the possibility of subscribing to the so-called "magic bond" for 7 years for those who adhere to the money laundering and thus wish to avoid paying the fine. And they can whiten the triple.

Originally, the deadline to buy it expired on last december 31, but Minister Luis Caputo brought it to the 31st of this month.

According to the tax amnesty regime, those who wanted to externalize undeclared properties They have time to do it until the 31st of this month with a 5% penalty, while those who they will launder accounts abroad They can do it in the same term, but now at a rate of 15 percent.

Only those who subscribe to the special tax are exempt from paying the special tax. Bonar 1% bonus 2023 or those who subscribed closed-end mutual funds, specifically put in place for money laundering.

Meanwhile, the moratorium, which - unless extended - also expires for now at the end of the month, provides for the possibility of regularizing the cash debts, with a 15 percent discount.

Likewise, natural persons have the option to do so, in addition, up to 60 installments, with a 5% advance payment and an interest rate of 1,5%, while for SMEs it contemplates the option of paying a 10% in advance, and the rest in 90 installments with an interest established by the passive rate of Banco Nación.

Finally, for the Medium and large companies, the advance payment is 15%, and are also accepted up to 90 installments, with interest based on the nation's passive rate, but with a minimum of 1,5 percent.

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