Money laundering included in the Omnibus law allows this regularize the money for free -i.e. without paying a single peso as a penalty- although to access this benefit you will have to comply certain conditions. Essentially, leaving the money tied up in a special account until 31 December 2025. Or apply it to certain types of investments.
But the important thing is that by respecting these conditions you can whiten at no cost. That is to say, there will be no limit to the amount of money to be laundered, taking into account the conditions established in the article 144 of the project.
Under the title “Special cases of exclusion from the tax base and payment of the Special Regularization Tax” said article says
“Cash, in Argentina or abroad, deposited or transferred to a special asset regularization account“
“Cash regularized in accordance with the rules of the asset regularization regime and deposited and/or transferred to a special asset regularization account will be excluded from the calculation basis of Article 142 (different rates depending on the moment in which the recycling begins) and must determine the special regularization tax according to the rules of this article 145.
“At the time of deposit or transfer of the regularized amount to the Special Asset Regularization Account The special regularization tax need not be paid and such tax will not be paid while the funds remain deposited in such accounts.”.
“During the period in which the funds are deposited in the Special Asset Regularization Account, they They can only be invested in the financial instruments indicated by the regulations.. The results of these investments must be deposited in the same Special Asset Regularization Account.
“For the correct application of the rules of this article, financial institutions must open, as appropriate, a Special Asset Regularization Account for each Phase of this regime and it must be possible, at any time, to identify the Phase of the Regime Regularization of assets that affect deposited funds”.
When the funds are deposited into a Special Asset Regularization Account are transferred to another account for any reason, the Special Regularization Tax will have to be paidwhich will be retained in a single and definitive payment by the financial institution where the Special Asset Regularization Account is opened, according to the following rules:
If the funds are transferred to the Federal Public Revenue Administration to pay the special regularization tax provided for in Article 142, no withholding will be made. If the funds are used by the taxpayer to pay the tax referred to in Article 173 (Personal property) no withholding tax will be made. To this end, the taxpayer may use any legally available means to transform U.S. dollars into the pesos necessary for the payment of such tax and may choose to sell such U.S. dollars on the official foreign exchange market or use such funds to effect a stock transaction of purchase and sale of securities which allows you to obtain the funds in Pesos necessary to pay the tax.
In any case, the peso funds resulting from the operation must be credited to an account opened at the same financial institution where the special asset regularization account from which the US dollars were transferred was opened, provided that the rules indicate the receipts or documentation that said person must request from the taxpayer to support the operation carried out.
If the funds are transferred to any other account before 120 days following the deposit of the funds into the Special Asset Regularization Account, a withholding tax will be applied to the amount transferred, regardless of the destination of the transfer, as detailed below:
Funds regularized in Phase 1: 8.75%.
Funds regularized in Phase 2: 17.5%
Funds regularized in Phase 3: 26.25%.
If funds are transferred to any other account after 120 calendar days have passed since the funds were deposited in the Special Assets Settlement Account and before and including December 31, 2025, a withholding tax will be imposed on the amount transferred, as detailed below: Funds regularized in Phase 1: 5%. Funds regularized in Phase 2: 10%. Funds regularized in Phase 3: 15%.
It will not be appropriate to withhold if the transferred funds referred to in point (iv) are intended: The acquisition of participation certificates or debt securities of productive investment mutual funds, according to the rules established by law.as long as the investment remains the property of the taxpayer until 31 December 2025. Nor will payment be made for the subscription or purchase of units of mutual investment funds that meet the requirements established by law and which remain the property of the taxpayer until 31 December 2025.
The National Executive may add other destinations to those provided for in the previous paragraph, concerning encourage productive investments in the country or promote credit to businesses operating in the country.
If funds are transferred after January 1, 2026: No withholding tax will apply.
Under no circumstances will the cash withdrawal of sums deposited in a Special Asset Regularization Account be permitted, but taxpayers may request their immediate transfer to another bank account of their own ownership, subject to application of the Special Regularization Tax as indicated in the art. . previous paragraph, if applicable.
Under this regime, taxpayers may also choose to open Special Asset Regularization Client Accounts, which will be opened with Settlement and Clearing Agents (“ALyC”).
Source: Clarin
