Treasury Sets June 30 Deadline for Undeclared Cash Asset Regularization

According to L’Économiste, this voluntary regularization concerns natural persons with liquid assets hoarded outside the formal economy. In its development, the newspaper specifies that banks are required to accept cash, regardless of the amount, and to deduct the amount of the 5% liberating contribution, which will be paid to the Treasury the month following the date of the declaration.

As part of the operations of this regularization, the same source indicates that the confidential dimension has been introduced in the amnesty on liquid assets. Henceforth, multi-banked clients are invited to approach several counters to regularize their assets. Since, notes the newspaper, "the statements transmitted during the payment of the contribution to the Treasury via the internet to the DGI, will not contain these elements of identification of the taxpayer".

Furthermore, to attract and encourage taxpayers, the DGI assures "the tranquility of carrying out all kinds of expenses mentioned in Article 29 of the General Tax Code, without risk of adjustment". These are expenses related to the purchase of vehicles, rents, debt repayment, the acquisition of real estate, the maintenance of the main and secondary residence, specifies the daily, which adds that in the event of a tax audit, the person concerned benefits from the exemption from payment of income tax and all related penalties.

As for the deadline retained to subscribe to this liberating contribution, it has been set at June 30; but it could, according to the same source, be extended by two months, renewable once.