Argentina Tax Amnesty Explained in English
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AFIP Explains in English who and what is involved
This voluntary Argentina tax amnesty gives a one-off opportunity for local taxpayers to declare illegal hidden currency and property. It has been designed by the Argentine Government to entice back into Argentina the Billions of Dollars that had left the country illegally when the previous populist governments invoked economic measures that effectively stole taxpayers money. The taxpayer pays a special tax for the property located within the country and abroad only if it is over a certain amount.
The Argentine taxpayer now can pay between nothing and a small penalty tax for the properties and or assets located outside or within the country. It is expected that between 20 to 60 US Billion dollars will be returned due to the generous terms plus a new ability of now being able to data match which enable Argentina to punish those who do not comply.
The Law indicates that the taxpayer may not pay the special tax if he invests the possessions and/or currency in Mutual Funds for the financing of the economy or if he acquires certain public securities that will be issued by the Executive Power. ie Bonds
The deadline is March 31, 2017, included.
Click here for the complete guide in English
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