toongeorges
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- Mar 4, 2012
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My girlfriend is an independent translator and she earns a modest wage in dollars. She is declaring everything to the tax authorities. Currently, she is going through a mental breakdown, because of new legislation, she is obliged to convert all her dollars to pesos at the official rate and can officially only convert 200 USD back per month.
If she wants more dollars to save, she loses another 20÷ (she gets pesos at the official rate, currently 57,93 ARS/USD and the blue rate to convert back to dollars is 69,25 ARS/USD). She becomes depressed, because on top of her normal taxes, she has to pay the "exchange rate tax", which is currently around 20% and will increase and if she does so, she converts her white money to black money, on which she will have to pay another tax in case she wants to convert it back to white money in a future blanqueo. In short, she is depressed because she prefers not to have black money, but it appears that almost nothing of her wage will be left.
I mentioned her she could do one of the following:
1. Keep doing everything in white and accept the losses
2. Move to another country
3. Set up a company in Uruguay, let her wage be paid to this company and let this company only pay out a negligible wage to her
4. Do everything in black
5. Stop working
She is not happy with any of the possible solutions. Would you have any idea how she could keep earning a wage in dollars, declare it and not lose most of it?
If she wants more dollars to save, she loses another 20÷ (she gets pesos at the official rate, currently 57,93 ARS/USD and the blue rate to convert back to dollars is 69,25 ARS/USD). She becomes depressed, because on top of her normal taxes, she has to pay the "exchange rate tax", which is currently around 20% and will increase and if she does so, she converts her white money to black money, on which she will have to pay another tax in case she wants to convert it back to white money in a future blanqueo. In short, she is depressed because she prefers not to have black money, but it appears that almost nothing of her wage will be left.
I mentioned her she could do one of the following:
1. Keep doing everything in white and accept the losses
2. Move to another country
3. Set up a company in Uruguay, let her wage be paid to this company and let this company only pay out a negligible wage to her
4. Do everything in black
5. Stop working
She is not happy with any of the possible solutions. Would you have any idea how she could keep earning a wage in dollars, declare it and not lose most of it?