The Federal Administration of Public Revenues (AFIP) made official this Friday (21.10.2016) the pExtension of the deadline for opening bank accounts until 31 October to "make real" the undeclared money within the framework of the money laundering contemplated in law 27260, as well as also the decision to set the deadline for November 21 to make the deposits in entities.
The measure, announced yesterday by the AFIP in a statement, was published in the Official Gazette through the General Resolution 3947, signed by the federal administrator, Alberto Abad.
"It will be considered completed on time the deposit of national or foreign currency holdings in cash in the country (…) provided that as of October 31, 2016, one or more of the accounts had been opened (…) in a financial institution (…) and the same is made effective until November 21, 2016 inclusive, having fulfilled the remaining established requirements up to that date," states the text of the new regulations that were formalized this Friday.
In its recitals, the AFIP argues that "the Central Bank of the Argentine Republic has brought to the attention of this body the concern expressed by the Banking Associations regarding the impossibility of meeting, within the legal deadlines provided, the operational demands related to the voluntary and exceptional system of declaring the holding of national and foreign currency and other assets in the country and abroad."
According to the entities, this situation is due to "the significant increase in banking activity that this causes and the cessation of activities decreed by the trade association representing the activity, for certain days in the month of October 2016."
In the same rule it was also resolved, ""Adjust the requirements that must be met by the certificate of valuation of aircraft, ships, yachts and similar items located in the country".
Within this framework, it was established that "the valuation of aircraft, ships, yachts and similar items, located in the country, declared by individuals or undivided estates, must arise from a certificate issued by an insurance entity operating under the supervision of the National Insurance Superintendency, signed by an authorized person."
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