Argentina published Law 27679 in the Official Gazette on 22 August 2022, which entered into force on the date it was published and provides for the reintroduction of the tax amnesty incentive regime originally introduced by Law 27613. Under the regime, the disclosure of unreported cash held domestically or abroad is subject to special tax rates provided that the disclosed amount is deposited in special accounts and invested in real estate projects to promote access to housing in Argentina. The regime is available for natural persons, trusts, and companies. Where the required conditions are met and the special tax is paid, the taxpayer is released from all corresponding civil, commercial, criminal, and administrative infraction liability. Further, an exemption from the payment of omitted taxes is provided, including income tax, VAT, personal assets tax, and tax for undeclared net profits
The special tax rates under the regime are as follows based on the date the disclosed amount is deposited in a special account:
Regulations for Law 27679 are to be issued by the Argentine tax authority (AFIP) and the Central Bank within 15 days.