Agreement with the United States
The economic team is confident that between November and December the information exchange agreement between the AFIP and the US organization IRS, an acronym that refers to the Internal Revenue Service, will be signed. “He’s going out. The power is already made, Sergio Massa has it to sign it “told a source close to the Minister of Economy.
Thus, with its entry into force, the first information will arrive in September 2023, corresponding to the data for 2022. To explain how the agreement works, official sources described: “We are going to have a pipe through which all the information will circulate, what the Argentines have there and what is here, we are not the only ones who evade”. The difference with the current system is that today it is “end to end”, that is, AFIP can make a specific request for a person.
In the Government they estimate that there are at least US$100,000 million in Argentine accounts abroad, both in the banking system and in financial investments. They hope that in 2023 they will be able to access at least US$5 billion, including compensatory and punitive interest. However, as it is also expected that there will be litigation on the part of the taxpayers, or delays on the part of the AFIP when it comes to gathering the information and intimating, In the economic team, the expectation is that the funds will be channeled through the laundering that is in force.
3 possible launderings
“There are several who are very concerned,” said an official source. As Ámbito was able to find out, it is not expected that there will be a mechanism for the externalization of assets by the time the agreement enters into force. The 2023 budget approved by Congress means that laundering will begin to be able to buy used properties, without a term limit. However, there is still the instance of the Executive’s promulgation and that it be uploaded to the Official Gazette with the regulations.
Another of the launderings that the budget makes possible is externalizing funds to pay for imports, whether of goods or services, whose destination is production processes. Thus, they will have a smoother path when requesting authorizations in the new SIRA system.
However, Ámbito asked why the “fear” of taxpayers is not having an impact on the already existing laundering, which is for construction projects. The first stage, which has the lowest rate of 5%, ends, and partial data indicates that some $17,000 million entered, for which taxpayers paid almost $900 million. An official source responded: “Taxpayers are in mode wait and see. From the banks they tell them that the agreement is not going to come out. Until they see it, they are not going to launder.”
In dialogue with this newspaper, Mauro Mazza, from Bull Market Brokers Research, said that indeed “there are many scared people.” However, he was not very optimistic that the funds are channeled through real estate laundering: “Many people entered the laundering of the previous government, but the contracts were broken and there was no forgiveness, because from 2021 they began to fall from AFIP, so now nobody wants to.”
According to various accounting studies that did not want to be mentioned, the maneuver of people with funds abroad these days is to form companies, a blind trust, or take the funds to virtual wallets, and thus withdraw them from their bank accounts. personal, which are those that are part of the agreement. However, sources at AFIP assured that it is not so easy to carry out these maneuvers, nor do they arrive on time before January 1st.
Source: Ambito
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