The asset externalization regime promoted by President Javier Milei continues to seek followers, while the expiration of the first stage approaches, at which time the so-called “blanqueo de efectivo” also ends.
In this scenario, the journalist from the British newspaper Financial Times Ciara Nugent consulted Diego Fraga, partner at Expansion Business, to learn a little more about the tax amnesty.
In this regard, Fraga maintained that no matter how successful the Milei Asset Regularization Regime is, “it is unlikely to bring all of Argentina’s missing dollars home”.
On the other hand, he recalled that “Argentines who declare assets in the amnesty could opt to keep them overseas or withdraw them from banks after declaring them”.
In addition, he assured that loopholes in the US’s information sharing will shield some account holders there, such as those that use legal entities to conceal the beneficiary’s identity.
However, he explained that skepticism still persists, concluding that “you still hear a lot of people saying: ‘I don’t believe Argentina is going to change yet. I’d prefer to keep my money elsewhere.’”
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