In the final stretch of the money laundering process in Buenos Aires, the provincial Revenue Agency (ARBA) issued an alert upon detecting inconsistencies in bank accounts, which has raised concerns among those who have declared their assets. This situation occurs amid tensions between President Javier Milei and Governor Axel Kicillof over outstanding debts totaling $9.4 trillion related to public works.
According to ARBA, discrepancies have been found between the income declared in the Gross Income Tax (IIBB) and the amounts deposited in bank accounts under the taxpayer's name. Despite this alert, official sources claim that this action is not linked to the Asset Regularization Regime approved in Law 27.743, to which the province of Buenos Aires has not joined.
MartÃn Caranta, a partner in the Tax Department of Lisicki, Litvin & Abelovich, has pointed out that while this review by ARBA is not necessarily related to money laundering, there is a possibility that taxpayers who have declared their assets may be audited. Caranta warns that taxpayers from the province of Buenos Aires who participated in the money laundering process could be under ARBA's scrutiny due to potential inconsistencies in their filings.
Following the closure of the first phase of the money laundering process, in which around $19.023 billion has been declared in Special Regularization Accounts (CERAs) and Financial Advisory Companies (ALyCs), there is concern about the possible exposure of bank accounts. Although it is unclear whether ARBA is collaborating with the Customs Revenue and Control Agency (ARCA), it is emphasized that Special Asset Regularization Accounts (CERAs) could be the primary focus of these audits.
In light of the possibility of being detected by ARBA, Caranta advises taxpayers to analyze their specific situation and prepare for potential inquiries or actions from the auditing agency in case inconsistencies between their declarations and bank transactions are detected.
