As confirmed by official sources Ambit that Massa hopes that the agreement will be signed before the end of the year. It is not simple and work is being done both at a technical and political level to obtain a quick signature. “There are just a few weeks to go,” they say in the lawyer’s environment.
“At the technical level it is closed, the text is agreed and it only remains to sign it,” he told this medium William Michael, Customs owner. “Massa was speaking yesterday, in political terms on the subject, and the conversation is going very well. The ‘full power’ has already been processed, which is a decree that authorizes Massa to sign it for Argentina. That decree is to be signed, it comes out these days,” said Michel.
Bob Menendez and Sergio Massa
Thus, Massa would be in charge of signing the automatic exchange for the country. Although it is usually a task of the Foreign Ministry, the “full power” enables it to do so. It is not yet known which body will be his counterpart in the US.
As this medium learned, last week AFIP held new virtual meetings with the IRS to ratify that everything is online at a technical level, and last week there was a meeting at the US Embassy in the country and members of the Government in which the subject was discussed in the same sense. To process it and complete the process faster, a text of the agreement was validated directly in English.
The central objective of the agreement is to detect evasion and undeclared accounts in the US. According to official calculations, there would be at least USD 100,000 million that would be in the accounts of Argentines in that country. It will be sought to collect the Personal Assets tax on that money that is not taxed in the country, and also Earnings on the interest they generate.
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The candidate for national deputy for the Frente de Todos, Sergio Massa in the US, where he spoke about the future of Argentina and the challenges that the country must face, in the framework of a meeting held at the Woodrow Wilson Center.
NA photo
All in all, the US was always very cautious when talking about the conclusion of the agreement, possibly due to the positionsof the Argentine Government in matters of foreign policy, especially when referring to authoritarian regimes such as China, Russia, Venezuela and Nicaragua, among others.
In addition to Menéndez, the Democrat who chairs the Committee on International Relations of the US Senate, Republican senators were also in Tigre. Rob Portman, Richard Burr Y Ben Sasse, and the ambassador Mark Stanley. Massa was accompanied by Flavia RoyonSecretary of Energy, and by his international adviser, Gustavo Martinez Pandiani.
the deal
Massa discussed the issue in several meetings he held on his trip to the US in September. He proposed the new scheme in the White House with the National Security Advisor, Jake Sullivan, with mike pyledeputy international economic adviser to the National Security Council, and with John Gonzalez, Senior Advisor for Latin America. Also in the American Stadium and Treasury Department, the body that will have to leave the final signature of the agreement by the Argentine counterpart.
At the moment, the current exchange with the IRS is “case by case”, not automatic like the one that governs with other countries, but even so, in a dropper, the AFIP can count on valuable information. The new scheme would be much more direct and the tax action on undeclared funds would be automatic.
Source: Ambito
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