ARCA increases reporting thresholds for virtual wallets and banks

[carride]

AFIP increased the limits last May and September. On Jan 1, the limits that will trigger your argentina financial institution to report to ARCA increased again.

• In a statement, the tax collection agency indicated that as of January 1, virtual wallets and banks will have to report their clients' transactions that exceed $600,000.
• This is a procedure that began in 2018, and the amounts are automatically updated every 6 months, based on inflation.
• The regime does not affect clients or operations, but if ARCA finds inconsistencies, it may initiate audits to determine the origin of the funds.

In the case of banking operations, a new limit of $1 million (previously set at $700 thousand) was also established for the following cases:

• Total number of bank credits recorded in the month.
• Total term deposits established in the month.
• Cash withdrawals in the country or abroad.
• Final balance in bank accounts on the last business day of each month.
• Final balance in virtual wallets on the last business day of each month.

Finally, the monthly limit for transfers to and from virtual wallets was updated to $2 million.

ARCA: suben los montos a partir de los cuales las billeteras virtuales y los bancos deben informar las operaciones de sus clientes

El gobierno de Javier Milei (La Libertad Avanza) aumentó los montos mínimos a partir de los cuales los bancos y billeteras virtuales deben informar a la Agencia de Recaudación y Control...

chequeado-com.translate.goog

One previous discussion https://baexpats.org/threads/afip-w...m-what-amounts-should-your-bank-report.45771/