Thus, he referred to the automatic exchange of tax information between the AFIP the IRS, that would allow to identify deposits of Argentine citizens in that country that evade national taxes.
“All the technical work between AFIP and the IRS is finished and ready to start being implemented at the time the automatic information exchange agreement is signed”pointed Massa During a press conference given this afternoon in Washington, at the end of his tour of the United States.
To make the agreement effective, the signing of the agreement by the main authorities of the US government is necessary, something that Massa was open to happen soon.
“The Treasury (of the United States) saw favorably because, I imagine, its authorities should not be very pleased that, in some way, the United States financial system functions as a fiscal hideout for those who are worth taxes in Argentina”Massa said.
Last Friday, in statements to Radio Con Vos, the Argentine ambassador to the United States, Jorge Argüello, indicated that the initiative is “a priority for the Argentine Government”, since “it has to do with the situation of money that is deposited in the United States evading Argentine taxes”.
“At the end of 2016, an agreement was signed between the AFIP and the Department of the Treasury on tax matters, in order to exchange relevant information for the application of the national laws of the two countries. This agreement, which is already operational, allows it to Argentina to request data on people to investigate situations of tax evasion,” explained the diplomat.
“The difference between the current agreement -which has a very slow operation- and what is being proposed, appealing to article 6 of the 2016 understanding, is the automatic exchange of information on all taxes administered by the AFIP. This is already contemplated , but it still needs counterpart implementation,” Arguello detailed.
Article 6 provides for the automatic exchange of information between the two countries, but as Argüello mentioned, the current negotiations aim to generate a real commitment at the government level for its effective operation, so that the tool is agile and fast.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
