This Monday, the block of national senators of the Front of All presented a bill in order to create a “National Fund for the cancellation of the debt with the IMF”. This aims to ensure that people with assets abroad “that were escaped and have not been declared to the treasury make a special emergency contribution.”

in dialogue with In the end Lawyer Marcos Sequeira, a specialist in tax and procedural law, detailed the legal contradictions that this initiative possesses.

“From the legal point of view, it would be a monstrosity. If it had some kind of viability, it would lead to having to reform the nation’s criminal procedure code, redeem tax procedures, the law of fiscal procedures, the part of money laundering crimes. From the technical point of view, the possibility is very difficult,” the lawyer specified.

On the other hand, he said that the name that has been attributed to the project expresses that its validity is until the debt to the IMF is paid off, “which calls for a bit of laughter.”

Those who are affected by the measure and voluntarily present themselves in the next 6 months must make a contribution of 20% of their undeclared assets, a portion that must be paid in dollars. On the other hand, those who present themselves after 6 months must contribute 35% and do not present themselves spontaneously and are contacted by the General Tax Directorate (DGI) must contribute 50%

Watch the full interview: