December 6, 2013
Gov't extends whitewash deadline
President Cristina Fernández de Kirchner has decided to extend the deadline of the whitewash law till December 31st. The recently passed project expired yesterday with 341.5 million dollars entering the country.
“Operational reasons” and the “purpose” to allow more people to access the “benefits” of the whitewash legislation has driven the Fernández de Kirchner administration to go ahead with a 3-month extension.
The tax amnesty law has accounted only for 8.5 percent of a 4-billion dollar intake it expected to collect following also the CEDIN move - a real estate and construction certificate of the federal government that offers citizens a three-month tax amnesty to turn undeclared cash into payable certificates, without the requisite to specify origins.
Prior to the resolution published in the official gazette today under the 1503/13 decree, AFIP tax bureau head Ricardo Echegaray had recommended President Kirchner to conclude the whitewash process.
“It was a measure that did not come up with the results we expected,” Echegaray admitted in reference to the less that 350 million dollars collected since the Lower House signed the bill into law back in May.