Milei Launches a Controversial Plan to Get Hidden Dollars From Argentines From "Under the Mattress"

The so-called "Historical Reparation Plan for Argentine Savings" will allow from July 1st to make monthly bank transfers of up to $43,000 (50 million pesos) and place fixed deadlines of up to $85,000 without justifying its origin.How Milei’s ultra party conquered the bastion of Macri’s right and why it is important for Argentina “Your dollars, your decision”, with this slogan Javier Milei’s government launched the “Historical Reparation Plan for…

The Minister of Economy, Luis Caputo, said this Friday that “the amount of pesos in the economy is very low.” And that this factor was one of the fundamentals to advance with the “Historical Reparation Plan of the Savings of the Argentines,” which points to the dollars that Argentines treasure outside the informal financial system, or “under the mattress.” In that line, the government also seeks the adherence of the different provinces to facili…

By Néstor Cáceres (*) From the press conference conducted by the Minister of Economy of the Nation, Luis Caputo, on Thursday 22, the so-called Historical Reparation Plan for the Savings of Argentines (PRHAA) was disseminated. Later, on Friday 23, the decree of the National Executive Power was published [...] The post New Historical Reparation Plan for the Savings of Argentines: its tax effects appeared first on Trade and Justice.

The National Government launched the Historic Reparation Plan for Argentine Savings, which basically aims to register the undeclared funds, which are called “dollars in the mattress.” Such banknotes were acquired illegally, according to the legislation in force at the time of purchase. The authorities understand that this money was constituted by the abuse of rules and laws issued during the Peronism’s efforts -as of 2011, in the second term of …

The government will enable Argentines to use dollars under the mattress. Analysts expect a portion of the money to be deposited and reached the market. They point out that local financial assets offer larger bullish potential, while sovereign and corporate Argentine bond rates look attractive to make the dollars that yield 0% on the mattress work and could yield between 6% and 11% per year.

The provincial administration will sign the Historic Reparation Plan for Argentine Savings and will adhere to the new simplified regime of Profits. Read more