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Wealth tax: banks must report accounts to repatriate funds

2021-04-13T12:16:53.458Z

One by one, what data that financial institutions will have to detail. 04/13/2021 7:27 AM Clarín.com Economy Updated 04/13/2021 7:37 AM The Federal Administration of Public Revenues (AFIP) established that financial entities must inform the organization of the accounts used for the repatriation of funds linked to the solidarity and extraordinary contribution, as well as the movements that are registered. In this way, General Resolution 4960/2021 enters into force,



04/13/2021 7:27 AM

  • Clarín.com

  • Economy

Updated 04/13/2021 7:37 AM

The Federal Administration of Public Revenues (AFIP) established that

financial entities must inform the organization of the accounts

used

for the repatriation of funds

linked to the solidarity and extraordinary contribution, as well as the movements that are registered.

In this way, General Resolution 4960/2021 enters into force, which bears the signature of the head of the agency Mercedes Marco del Pont and was published this Tuesday in the Official Gazette.

The data that financial entities will have to detail about the accounts are: 

  • Amount in original currency and in national currency

    of each of the credits and debits made in these accounts.


  • Origin and destination

    of allocation of credited and / or debited funds.


  • Identifying data of the accounts of origin or destination of the funds

    .


  • Operation

    number, associated account number and type, denomination, code and quantity of the instrument traded.


  • Resulting balance in the account

    , in original currency and in national currency, of each of the operations.


  • Date of realization of each of the reported credits and debits.


The Solidarity and Extraordinary Contribution reaches individuals and undivided estates

residing in the country

for all of their assets in the country and abroad, and individuals and non-resident undivided estates, for all their assets in the country ,

provided that they exceed the sum of $ 200 million.

The date for the valuation of the assets is the date of entry into force of the Law, that is, December 18, 2020.

The expiration of the obligations to present the affidavit and the payment of the solidarity and extraordinary contribution is April 16.

The people reached can choose

until April 28, inclusive, to make an advance of 20%

of the consolidated debt and enter

the resulting balance in up to five monthly and consecutive payments.

Law 27,605 establishes differential rates for the calculation of the contribution to be paid for goods located abroad and exempts this differentiation when the repatriation is verified.

It is a condition to access the benefit of the non-increased rate

that the repatriation is at least 30%

of the

deposits in foreign currency and the amounts generated as a result of the realization of financial assets that the person registers abroad.

"The benefit for repatriation is maintained to the extent

that the funds remain until December 31, 2021, inclusive, deposited

in an account opened in the name of its holder in financial entities defined in Law No. 21,526", indicates the AFIP.

General Resolution No. 4960, which is published this Tuesday in the Official Gazette, incorporates that financial entities must inform the AFIP of information regarding the

“special account for repatriation of funds - Solidarity and extraordinary contribution.

Law 27,605 ”.

YN

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Source: clarin

All business articles on 2021-04-13

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