Argentina's Chief of Cabinet, Guillermo Francos, announced that the Executive Branch will send a bill to Congress next week to allow the use of undeclared dollars within the financial system.
The proposed law aims to increase the amounts of information required by ARCA (Argentine Tax Authority) for those using these funds, with a monthly purchase limit of $50 million. Francos described the measure as "revolutionary".
The bill guarantees that the provided asset information will not be reviewed extensively and reduces the statute of limitations to two years, down from the previous five. This initiative seeks to mobilize funds, stimulate commercial activity, and increase tax revenue for provinces.
The government hopes this will allow people to use their savings for down payments on homes and other investments. The goal is to encourage economic activity and increase tax revenue.