Argentina’s President Javier Milei is preparing to loosen the country’s complex tax evasion restrictions in an effort to draw billions of undeclared dollars back into the formal economy. With an estimated $271 billion stashed in homes, safety deposit boxes, and offshore accounts, savers have long sought refuge from a volatile peso, capital controls, and shifting tax laws.
While critics warn the plan could enable tax dodgers and money launderers, Milei argues it offers a path to reintegrate legally earned funds. In a largely informal economy, where cash deals dominate, experts say meaningful incentives, not penalties, are key to drawing money out from under the mattress and back into the system.
