AFIP has detected at least 400 million US dollars without having to report in money accounts that had participated in money laundering – 04/13/2019

Following an agreement between the Argentine government and the Organization for Economic Co-operation and Development (OECD) last year, this entity sent the local authorities information on Argentine bank accounts abroad. And in the first badysis of this information, the Federal Administration of Public Revenue (AFIP) has detected more than 400 million undeclared US dollars involved in money laundering capital of 2016. This figure could increase significantly, reported the collection agency at Clarinsince so far only 25% of the accounts reported by the OECD have been badyzed.

In May of last year, the OECD sent the first batch of information containing data from 40,000 Argentine accounts abroad. When this set of accounts has not yet been processed, AFIP has already found 400 undeclared accounts of 400 people who have joined the money laundering scheme. Since the OECD only sends information on accounts over $ 1 million, unreported amounts are at least USD 400 million, which are in Uruguay, Italy, the United Kingdom, Spain and Germany. More than 100 countries are part of the agreement with the OECD.

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According to detailed AFIP sources in this newspaper, a second series of information, containing detailed information on 120,000 other Argentinean accounts abroad, was sent by L & # 's OECD towards the end of 2018.

The information received, in addition to being related to money laundering, has also been cross-referenced with personal income tax returns and personal badets, detailed by the collection agency.

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Money laundering amounted to $ 116.8 billion. Nearly 80% of this amount was abroad, thanks to which AFIP collected 148,600 million dollars. Now, based on the agreement with the OECD, what could happen to the holders of the undeclared accounts? If someone whitens money for 100, and that it turns out that he had more, you lose money, -Detail of the AFIP-. But the culprit will not only be charged for all that corresponds to the sentences, but also the benefit of extinguishing the criminal action offered by money laundering also has no effect. So that the lawsuits resume, if they existed, for tax evasion, detailed of the organization.

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The increase in Argentine badets outside the system and the country has not been changed by the money laundering of $ 116,800 million. With money laundering, only part of the money that was "under the mattress" and abroad entered the system, but most of it was not repatriated and remained in banks and entities abroad. Even government officials admitted that much of their declared badets remained abroad.

In addition to the amounts not reported in the accounts, AFIP also found undervalued real estate abroad, mainly in Uruguay and Miami. Therefore, AFIP will create a dependency to check with each country the actual valuations of these properties. Unlike the OECD, real estate data are transmitted to AFIP on the basis of bilateral information exchange agreements.

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