Luis Caputo threatened the banks: "If they persist in not complying with the rules, we will have to take action."

Economy Minister Luis Caputo demanded that banks comply with tax secrecy and not request tax documentation from their clients. The head of the Treasury Department threatened the banks hours after accusing these companies of causing the dollar's rise with their internal maneuvers.

"We're going to talk to the banks. If they insist on not complying with the rules, we'll have to take measures to make them understand this once and for all ," threatened the libertarian leader in response to a question from accountant Alejandro Rosenfeld on X, where he explained that "the banks are not adapting to the government's new rules" and that "they continue to ask for certifications, paperwork, justifications. Since they can no longer ask for the Affidavit, they've already prepared the forms in case you want to submit it voluntarily. This way, you avoid having to do the certification."

Along these lines, he maintained that "the banks, Arca, and other organizations continue as before: the government goes one way and they go the other way," and attached an image of the document the entities are asking you to sign voluntarily. It states that "I hereby declare, as a sworn statement, that I understand and accept the scope of General Resolution No. 5696/25 of the Customs Revenue and Control Agency and Decree 353/25, which establish, for the purposes of ensuring the correct application of the tax secrecy principle, that the bank cannot request its clients to file national tax returns."

He then clarifies that "the Bank has clearly explained to me the scope of the aforementioned regulations, and I understand that there is no obligation to submit the aforementioned tax documentation" and states that "notwithstanding the foregoing, I voluntarily submit my national tax returns in order to avoid incurring income certification fees ."

The minister argues that, through General Resolution 5696/2025, ARCA prohibits those obligated by Law 25.246, such as banks, notaries, insurers, or real estate agents, from requiring their clients to submit national tax returns as a condition for providing services or complying with administrative procedures.

The regulations maintain that "the asymmetry in the legal relationships between service providers and the subjects seeking access to them cannot be ignored, and this is exacerbated when access to the service is conditional on the provision of documentation that may exceed what is reasonable or affect protected rights," according to NA.