December 14, 2017
Monday, March 31, 2014

Gov't extends tax amnesty deadline

The government has decided to extend the whitewash tax amnesty deadline for a third time, as the measure, first introduced in May 2013, reaches its final day today.

The scheme involves exchanging undeclared cash in foreign currencies for energy bonds (BAADE) or certificates of deposit that could be used in real estate transactions (CEDIN).

Although the government aimed for revenues of 5bn dollars from the amnesty, at the current time only 700 million dollars have been declared by participants.

The original project opened to the public on July 1 last year and was scheduled to end on September 30, although the government reserved the right to extend the deadline upon expiry. The whitewash was inititally prolonged until December 30, before Economy Minister Axel Kicillof ordered a second extension to the current date.

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Tags:  Argentina  tax  amnesty  deadline  

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