Official Project to Modify the Fiscal Innocence Law: What Changes and What Doesn't

The Ministry of Economy presented a series of modifications to the Fiscal Innocence Law project, as reported by the agency itself in a statement. The announcement was made by Minister Luis Caputo and the Legal and Technical Secretary of the Presidency, María Ibarzabal Murphy, who held a press conference. In that context, tax experts Sonia Becherman, Liban Kusa, and Ricardo Paolina answered questions about the changes introduced.

What the official statement establishes about the changes

The official document details four central modifications. The first eliminates the access conditions to the simplified regime: it will no longer be required that income not exceed one billion pesos annually nor that total wealth not exceed ten billion pesos. Nor will those who qualify as «Large Taxpayer» under ARCA rules be excluded. The project clarifies that large taxpayers may adhere to the simplified modality, but will not enjoy the presumptions or liberating effects provided in the law.

The second modification introduces a minimum threshold for the tax authority to rebut the taxpayer’s presumption of accuracy. Currently, if an ARCA challenge results in an increase of 15% or more over what was declared, the presumption automatically falls. The project maintains that percentage, but adds that the presumption will not be broken if the nominal difference claimed does not reach the equivalent of 5% of the evasion amount provided in Article 1 of the Tax Criminal Law. In concrete numbers, the statement indicates that if the difference does not exceed five million pesos, the presumption is maintained.

The third modification grants the taxpayer the possibility to file an amended sworn statement and pay the difference plus corresponding interest within a period of up to 15 business days from being notified of the official determination. The fourth establishes that, upon a final resolution, the presumption of accuracy is fully restored and ARCA is obligated to refund the contributions paid with interest within a period no greater than 45 business days from notification.

The minister’s arguments and the context of informality

Caputo stated that «the spirit of the law does not change in absolutely anything» and that the objective remains that savings can be formalized in the banking system without penalties. According to the statement, the decision to promote a new law arose after receiving observations from tax advisors on the previously approved regulations. The minister maintained that they set up a working table with tax experts to clarify issues and give citizens peace of mind.

The document attributes the growing process of informality to years of high tax pressure, fiscal deficit, monetary emission, inflation, and exchange restrictions. Caputo noted that, although dollar deposits in the financial system reach record levels close to 40 billion dollars, there is an amount more than four times that sum in savings kept outside the banking circuit. He also stated that «having dollars under the mattress is a very bad deal» because they lose value due to inflation in the United States.

What the statement does not establish and what questions remain open

The official statement does not specify the exact date of submission of the project to Congress nor the file number. It also does not detail the full text of the norm nor clarify whether the changes will have retroactive effect. It does not mention whether the eliminated caps will be replaced by other objective criteria nor how the condition of «Large Taxpayer» will be determined in practice. Furthermore, it does not indicate whether the five million pesos threshold will be updated for inflation nor with what frequency.

Regarding savings outside the system, the statement does not specify the methodology used to estimate that they exceed four times bank deposits. Nor does it specify whether that calculation includes dollars abroad, in safe deposit boxes, or in other forms of holding. The official source does not offer a historical series nor a projection of how much is expected to be formalized with the new law.

Contrast with journalistic coverage

The only journalistic source provided, La Derecha Diario, does not address the Fiscal Innocence project. Its article focuses on an archaeological search related to Noah’s Ark in Turkey, a topic completely unrelated to the content of the Ministry of Economy’s statement. Therefore, it is not possible to contrast coincidences, differences, or limits between both sources on this topic. The official source is the only one that provides verifiable data on the tax initiative.

Value module: what each document establishes

What data or decision should be followed

The central data to follow is the date of entry of the project to Congress and the publication of the full text of the norm. It is also relevant to know whether the five million pesos threshold will be updated periodically and how the exclusion of benefits for large taxpayers will be regulated. The evolution of dollar deposits in the financial system and the eventual formalization of savings outside the banking circuit will be indicators to evaluate the impact of the measure, although the statement does not offer quantified goals.