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.”

The initiative was presented after the Government signed the agreement with the International Monetary Fund (IMF) to change the repayment terms of the debt of 44 billion dollars.

From the party they argued that this project “will not represent a new tax burden for the majority of Argentines, since it will only be up to those who have assets abroad and are evading taxes or laundering money.”

What does the project say?

Those affected by the measure must make a contribution of 20% of their undeclared assets, a portion that must be paid in dollars.

The project specifies that “in the case of declaring the goods after six months of the entry into force of the law, the rate will rise to 35%”, and adds that those who comply with the payment of this contribution “run the risk of having a prison sentence”

The rule will also apply to those who have made a change of tax residence to another country, “when the true vital center of interests continues to be the Argentine Republic.”