Voluntary Disclosures Argentina: Approval of the “Plan”
As a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, Argentina is participating in the Automatic Exchange of Information (AEOI), which will enter into force in 2017. To regularize unreported assets, Argentina is launching a voluntary disclosure program of unreported assets located within Argentina and abroad, called “Plan” (sistema voluntario y excepcional de declaracion de tenencia de moneda nacional, extranjera y demas bienes en el pais y en el exterior, llamado “Plan”).
The Argentine Congress approved the “Plan” on June 29, 2016. The next step is the promulgation by the Executive Branch to be legally valid.
The application period will be from the date of the promulgation until March 31, 2017. Costs of regularization, which will be paid to the tax authority, are dependent on the date of report: They will vary from 0% to 15% of the asset´s value.