It was declared more than 20 billion of dollars during the amnesty of capital in Argentina
Argentines have declared $21.9 billion during the amnesty which began in Argentina in August 2016. This figures were announced on Tuesday by the head of Tax Service Alberto Abad.
According to his speech around 7.2 billion of dollars were deposited as cash, and the rest – as a properties and bank accounts in Argentina or outside the country. This money come from 108 623 citizens.
And they were included into local banking system from 49 institutions and now can be investments – Abad said at press conference. 10% of this money will go to local budget in accordance to amnesty law.
According to Argentina’s finance minister Alfonso Prat-Gay, the government has already reached the goal set before the start of the amnesty.
Argentina’s parliament approved a law on tax amnesty at the end of June. According to the initiative the Argentines could legalize their undeclared funds and foreign banking accounts by paying a tax from 0% to 15%, or by purchasing government bonds. The law does not apply to members of the judiciary, the executive and legislative branches, as well as their relatives.
Until the end of October Argentines could report their undeclared revenues. Finally, capital amnesty will end on March 31st.