Particle.news
Download on the App Store

Argentina Moves ‘Inocencia Fiscal’ From Law to Practice, Urges Savers to Take Dollars to Banco Nación

The plan seeks to formalize cash dollar hoards by pairing a simplified ARCA-run filing system with sharply higher thresholds for criminal tax cases.

Overview

  • - Economy Minister Luis Caputo told savers to deposit undeclared dollars at Banco Nación and said funds would be available for immediate use.
  • - Banco Nación announced it is ready to handle these deposits through more than 700 branches and digital channels under the new law.
  • - Passed in the Senate 43–26, the law creates a Simplified Income Tax regime in which ARCA prepares returns that, if paid on time, have a liberating effect from further formal claims.
  • - Criminal tax thresholds jump to $100 million pesos for simple evasion and $1,000 million for aggravated cases, concentrating prosecutions on larger, structured frauds without altering UIF anti–money-laundering powers.
  • - Automatic fines for late filings rise steeply (to $220,000 pesos for individuals and $440,000 for companies), with the Economy Ministry saying ARCA will issue prior notices and scale penalties by the delay.