A move to introduce a tax amnesty for individuals repatriating undeclared funds back to Argentina has been defended by the country's government, in the face of widespread criticism.
The amnesty - which has already gained the approval of Congress - would entice individuals who currently invest funds abroad (to escape hefty taxes) to repatriate their money in return for a significantly reduced tax rate - without being penalized by tax authorities.
The move is part of a plan by the government to increase tax revenues which have declined due to a drop in soybean exports in recent months.
Individuals will be given the opportunity to repatriate funds under the conditions of the amnesty between March 1 and August 31, 2009.
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