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Argentinean Senate debates setting up of fund to pay debt to IMF

Argentinean Senate debates setting up of fund to pay debt to IMF

Buenos Aires, Apr 6 (Prensa Latina) The Argentine Senate on Wednesday began the debates on the proposal from the Frente de Todos (Front of All) bloc to set up a National Fund to pay the country's debt to the International Monetary Fund (IMF).
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According to the agenda at the Upper House of Congress, the committees of General Legislation and Budget and Finance analyzed two bills presented by the ruling bloc.

The bill 535, proposed to recover foreign currency lost due to capital flight and tax evasion to pay the debt of around 45 billion dollars contracted by former President Mauricio Macri.

Meanwhile, bill 536 modified Law 21.526 of Financial Entities to update the exceptions regarding bank, stock exchange and tax secrecy.

Those who benefited from the IMF resources favored the capital flight and did not declare them, an act deeply harmful to the taxpayers of our nation.

They are those who must make the greatest tax effort and this bill is aimed at them. It is an act of strict distributive, tax and historical justice, states a communique from the senators of the Front.

There are some 400 billion dollars abroad in the hands of Argentine residents and less than one third of them are declared at the Federal Administration of Public Revenues.

Panama, Paradise and Pandora Papers, among other reports from public and private organizations make them evident, the text added.


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