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Monday, January 30, 2023

9 Keys to Money Laundering Exchange of Information with the US published by the government

eventually Money Laundering Law with the Financial Information Exchange Agreement with the United StatesAnd this is not a disaster, raises many doubts, because the draft that the government let go It Won’t Be a True “Clean Slate”,

Furthermore, while The agreement with the US will allow AFIP to make retrospective adjustments for evasion until 2018, the laundering cut-off date which is not known. For example, it could be money laundering, and expose all of the above, indicated Sebastian M. Dominguez, partner at SDC Asesoras Tributarios.

Otherwise, The new laundering project has a broad scope for all types of goods, both at home and abroad, with aliquots set depending on the moment of placement.Articulated Caesar Litvin from Lisicki, Litvin & Assoc.

Las 6 keys to the government’s laundering projectBased on an initiative by Senator Oscar Parilli, according to Domínguez, with an apparent attempt to block Kirchnerism, noting that the radicalism has already said it will not support the measure, the following are.

Chamber of Laundering for Exchange of Information

1. Is the money laundering law about to be approved?

a Money laundering legislation should originate from the Chamber of Deputies Because it creates a special tax.

Money laundering law with half Senate approval would be unconstitutional

senator’s bill Parrili and a moderate approval in the upper house, it would be unconstitutional If it becomes law.

The question is whether the ruling party is going to garner a quorum to tackle the laundering project and then the necessary votes to approve it.One.

Clashes with part of the opposition over the last attempt of the session cast doubt on the possibility of introducing the anti-money laundering law before the end of the year, as the government wants.

In addition, some of the Radical delegates reached out to confirm that they would not support laundering.

Anti-laundering requirement for exchange of information

2. Why is it important for the government to quickly implement the Money Laundering Law?

The Automatic Exchange of Information Agreement with the United States has already been signed. it is This does not mean that the information will be received in 2023, Several steps have to be completed and both states have to accept that the other meets all the standards for sending the information.

I Ran The Clock For Regulation Of The Deal With The United States

Time is running out for regulation of the deal with the United States

because of this reason, It is likely that the final tax and collection adjustments that this new automated information can generate will only take effect during the next government.,

In this context it is The government wants to create a sense of fear and control For taxpayers to enter into laundering, generating collections in the first months of the year.

Furthermore, the government would include an incentive to repatriate financial assets, which is why it would also the dollar wants to come,

Scope of Money Laundering and Excise Duty

3. What will be the scope of the proposed laundering?

Laundering arising from circulated documents is widespread. This includes cash, bank account balances, investment portfolios, cryptocurrencies, real estate, furniture and credit, among other assets, both at home and abroad.,

This is not only for bank accounts and investments opened in the United States,

Laundering Is Not A Clean Slate

Government laundering is not a blank slate of the past

Even then, Does not release all income, assets etc. that were held earlier And they are not washed, as was the washing of former President Mauricio Macri.

this is not a clean slate,

4. What would be the specific tax to be paid?

document does not indicate what the divisibles areBut it does provide a date range where they will grow.

The special rate will apply to money laundering until 03/31/2023. Then, it will double for those who enter between April and June next year, and quadruple for those who enter between July and September.,

planning is akin to laundering, and following the similarity, especially can be 5%, 10% and 20% according to the platform.

taxes that go into money laundering

5. Will repatriation of financial assets abroad be required?

The document indicates that a special rate will apply to goods in the repatriating country, to be determined. And those that don’t, should apply the increased rates,

You Can Launder Without Bringing Dollars But A Higher Rate Will Be Paid

You can launder without bringing dollars but a higher rate will be paid

consequently, There will be no obligation to repatriateBut not doing so will result in paying more tax.

6. What taxes will laundering issue and what taxes will it not issue?

document states that Taxes on income, internal, VAT on personal property and special contributions on cooperatives are issued ,

thus, Tax on undocumented departure, transfer of property tax (ITI) or check tax will not be issued,

“It is important that these taxes are included in the project, because otherwise, laundering would generate adjustments to other taxes for external goods, which is an unfair situation,” Dominguez said.

Too An article should be included inviting provinces, CABA and municipalities to establish similar anti-laundering, for example taxes on gross income.,

Legislation Should Invite Caba And Provinces To Join

Legislation should invite CABA and provinces to join

Litvin believed so Neither Solidarity contribution has been issued with this launderingAlso known as property tax.

Benefits for Monotributistas and Provinces

7. Are there any special advantages for monottributists?

The document states that Monotributists will be able to launder the equivalent of US$50,000 in cash at half the cost of laundering if they fall under certain conditions.

8. Will bleaching be most successful?

The government has made frequent attacks on those who participated in the Macri government’s laundering, increased tax pressure since 2019, constantly changing the rules of the game, among other issues.

Monotributists Will Be Able To Launder Up To Us$50,000 At Low Cost

Monotributists will be able to launder up to US$50,000 at low cost

consequently, It is unlikely that, if approved, this new launderer will be successful,

The government’s strategy would be to instil fear and a sense of control by signing certain taxpayers into additional collections and repatriation of dollars through information exchange agreements signed with the United States. For those who do not want to pay the increased rates.

We will have to wait for the letter of the bill to find out the details and analyze its conditions in depth to estimate the support it will get.

9. How will laundering affect the co-participation of the provinces?

Beyond the bombastic title: Externalization of Argentina’s savings to maintain compliance and cancellation of debt with the IMF, the truth is that Only 20% will go to a specific fund to cancel the debt with the IMF.Litvin warned.

The remaining 80% will go to subsidies and programs of questionable compliance and control. As with the Solidarity contribution, they agreed.

And the provinces lose their co-participation percentage for taxes that are issued with this regime and will not receive any income from future collections.clarified

The government is fearful of exchanges with the US and offers an antidote to solve the problem for those who have not declared their holdings, they concluded.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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