The Argentine Government informed that the sworn declaration for the capital amnesty will only be required in case of future audits. However, it is still unclear how the Government will face the possibility of cost-free withdrawals of up to $100,000 starting November 1.
The next four days are the last for those who wish to declare "Other assets" for an amount exceeding $100,000 and pay a 5% tax on the excess of the Non-Taxable Minimum (NTM).
After this deadline, costs will be higher, as rates of 10% and 15% will apply in the following stages, respectively.
Regarding benefits, those who do not enter the amnesty before the deadline will lose them. Additionally, next Thursday is the last day to join the amnesty for certain assets with a lower tax of 5%.
The law states that until October 31, 2024, taxpayers can declare cash up to $100,000 without paying taxes, or higher amounts with a rate of 5% on the total or excess.
Starting Friday, Stage 2 of the regimen will begin, with different conditions. The president of the Central Bank announced that $14 billion have already entered within the framework of this process.
The manifestation of adherence is just the first step in the capital amnesty and must be carried out within the established deadlines. The documentation to be submitted varies according to the type of asset, and the sworn declaration must be completed before the deadline.
