Overview
- The Senate approved the measure 43–26, creating an optional simplified income tax regime with eligibility caps of up to $1,000 million in annual income and $10,000 million in patrimony, with no audits of patrimonial changes or consumption for adherents.
- The law raises criminal tax-evasion thresholds to $100 million for simple and $1,000 million for aggravated cases and shortens standard tax prescription periods from five to three years, with Article 39 allowing a one-time extinguishment of cases by paying the debt plus 50% within 30 business days.
- Luis Caputo urged banks to accept undeclared dollar deposits and pointed clients to Banco Nación, which initially posted an invitation to deposit but later deleted it and said it is handling consultations while awaiting regulations.
- Banking sources and tax experts cautioned that, until ARCA, the Central Bank and the UIF issue detailed rules, large cash deposits could trigger anti–money-laundering reports and compliance reviews, and they stressed this is not a blanket amnesty.
- The law invites provinces and Buenos Aires City to adopt aligned rules, leaving room for local tax claims and automatic provincial retentions until adhesion laws are passed, as the government targets a potential US$10–20 billion inflow.