The government extended the deadline for bringing dollars and personal belongings from abroad – Business and politics

The government extended the deadline for bringing dollars and personal belongings from abroad – Business and politics

The deadline for bringing 5% of the funds that are overseas and not paying the 2.25% rate of that tax expired on March 31, but the Executive decided to extend it. “Extension from its expiry and until 31 May 2022 inclusive, the date of repatriation foreseen for the financial year 2021, for the purposes of the provisions of decree 30 December 2021 n. 912 “, established by decree 201/2022.

That decree at the end of last year defined the concept of “repatriation” and which was understood as the entry into the country, up to March 31 of each year inclusive, of foreign currency holdings abroad and the amounts generated following the execution of the financial assets of subjects residing in the country and the undivided successions rooted in it.

Now, the Casa Rosada has held that “in order to grant taxpayers sufficient time for the analysis and adoption of the decision they deem appropriate and, likewise, to provide the professionals involved with an additional term for the development of relating to repatriation, it is appropriate to extend the term established in the aforementioned decree“.

Also, he remembered him for the Law n. 27,667 has the power to reduce the tariffs applicable to goods located abroad – in the case of financial assets – “if the repatriation of the proceeds from their realization occurs”.

The total amount of repatriated assets must reach at least 5% of the total assets located abroad and these funds must remain in the country until 31 December, deposited in an open account in the name of their owner with a financial institution.

The accredited funds can be used, without prejudice to the benefit, for their sale on the free exchange market, through the financial entity that received the original transfer from abroad. In addition, to the acquisition of equity securities or debt securities of productive investment funds set up by the Investment and Foreign Trade Bank, provided that the investment remains in the property of the taxpayer until 31 December.

Similarly, shares of mutual funds that meet the requirements of the National Securities Commission and remain the property of the taxpayer can be subscribed or purchased until December 31st.

THEMES