Overview
- ARCA’s Instruction General Nº2/2026 establishes a flat automatic fine of $220,000 for individuals for missing returns, with the system first sending a reminder and then waiting 20 to 90 days by taxpayer segment before registering the penalty.
- Large nationwide taxpayers (Segment 1.1) do not receive the automated reminder, and the new procedure applies to omissions occurring from January 2, 2026.
- Instruction General Nº3 applies the law’s reduction of the statute of limitations from five to three years for compliant filers, clarifying that periods already running follow Civil and Commercial Code rules for transitions.
- Specialists stress the framework is not a traditional amnesty, UIF anti‑money‑laundering controls remain fully in force, and banks must still verify clients’ profiles and sources of funds.
- Deposits in foreign currency climbed to about US$37 billion by end‑2025, lifting dollar credit to firms, though analysis notes the central bank’s reserve gains largely reflect bank encajes tied to private deposits.