(Adds quote from finance minister, background)
BUENOS AIRES, April 4 Argentina's government
said on Tuesday $116.8 billion in assets were declared, mostly
from abroad, in a record tax amnesty it hopes will help spur
domestic investment and economic growth.
The government collected 148.6 billion pesos ($9.652
billion) in taxes and fees from the amnesty, revenue that will
help the government meet its target for a fiscal deficit of 4.2
percent gross domestic product this year.
"We believe that the size and volume of assets that have
been declared is a vote of confidence not only in this
government but in the country," Finance Minister Nicolas Dujovne
While some Argentines were encouraged to normalize their
assets or bring their money back home by President Mauricio
Macri's business friendly reforms, others were pressured by
banks facing stricter regulations.
According to the AFIP tax agency, 80 percent of assets
declared were from abroad, mostly from the United States and
Analysts estimated that some $400 billion in undeclared
funds were being held outside Argentina before the amnesty.
Other Latin American countries including Brazil, Chile, Peru
and Colombia have held amnesties in recent years or are starting
(1 = 15.395 Argentine pesos on March 31)
(Reporting by Nicolas Misculin and Maximiliano Rizzi; Writing
by Caroline Stauffer; editing by Diane Craft)