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the 3 changes you need to know after the presentation of the Omnibus Law


The project of Omnibus Law that President Javier Milei presented to Congress today, proposes significant modifications to the Personal Property Tax. But also, he points out in the money laundering.

1. Money laundering

According to the text sent to Congress, it will be allowed regularize up to US$100,000 in cash, real estate or cryptocurrencies without paying taxes. The period to adhere to the laundering regime will be extended until November 30 next year, but in three stages, and no additional documentation or information must be “provided regarding accession to the regime,” the project states.

They can be launder most assets inside and outside the country, such as national or foreign currency, whether in cash or deposited in bank accounts or any other type; estate; shares, participation in companies, bonds, negotiable obligations, certificates of deposit in custody, shares of funds and other similar items, and cryptocurrencies, among others.

The first stage covers from the day following the entry into force of the regulations until the next March 31, when an advance of the 5% rate must be paid. Then there will be time until may 31 to regularize the rest of the tax. The second stage runs from April 1 to June 30 to pay an advance of the 10% rate and there will be time to regularize the remainder until August 31. Finally, the third stage will take place between July and September, and the rate will be 15%.

2. Tax moratorium

The Government proposes a new regime for regularization of tax, customs and social security obligations. “The possibility is foreseen for taxpayers and those responsible to take advantage of the regime, obtaining different benefits depending on the modality of accession and the type of debt they register,” the text says.

Firstly, all taxpayers will be able to benefit from tax obligations expired on November 30, including from the date of entry into force of the regulations issued by the AFIP and until 150 calendar days have elapsed. Acceptance of the regime will result in the suspension of tax and customs criminal actions and social security resources in progress.

The project indicates that it will be condoned andl 50%, 30% and 10% of the compensatory and punitive interests in the following cases: if the taxpayer joins before 90 days from the entry into force of the regime and pays in cash; if you join before that period, but pay in a facility plan, and if you join after day 91, respectively.

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The Government proposes a new regime for regularizing tax, customs and social security obligations.

3. Personal Property

One of the modifications in Personal Assets is the elimination of the rate differential for having assets abroad. In recent years, a special table was in effect, with a more expensive tax for goods that are outside the country. According to the initiative, all assets would be reached equally in terms of the level of taxation, with rates ranging from 0.5%, for those who have assets valued at no more than $13,688,704, up to 1.5% on the surplus of $456,290,138 plus a fixed amount of $5,389,927, if you have encumbered assets valued at more than $456,290,138.

For years after 2023, the table is progressively simplified and the tax burden is falling, until the tax corresponding to 2027 would leave all the assets covered by a rate of 0.5%, if the project is approved.

AFIP: what is the modification on monotributistas

The Federal Public Revenue Administration (AFIP) published the new billing categories and the fees to pay of the regime monotribute which will come into effect from January 1st.

In this way, the organism that commands Florence Misrahi validated the scales that had been announced prior to the assumption of Javier Milei.

The update implies an increase in fees of 110.9%almost half of the inflation that will occur in the year.

Monotributo: how are the new scales?

  • Category A: will go to $2,108,288.22 annually. Fee: $12,128.39
  • Category B: will go to $3,133,941.71 annually. Fee: $13,571.75
  • Category C: will go to $4,387,518.35 annually. Fee: $15,241.42
  • Category D: will go to $5,449,094.70 annually. Fee: $19,066.46
  • Category E: will go to $6,416,528.89 annually. Fee: $24,526.43
  • Categories F: will go to $8,020,661.11 annually. Fee: $29,223.11
  • Category G: will go to $9,624,793.31 annually. Fee: $33,439.61
  • Category H: will go to $11,916,410.77 annually. Fee: $56,402.68
  • Category I: will go to $13,337,213.57 annually. Fee: $81,121.96
  • Category J: will go to $15,285,088.45 annually. Fee: $93,619.47
  • Category K: will go to $16,957,969.16 annually. Fee: $106,964.65





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