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Sunday, November 27, 2022

Alberto Fernández met Carlos Castagneto for the tax agreement with the US and the increase in collection

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The meeting was held in the presidential office of Pink House, where the head of the AFIP said that a virtuous behavior of the collection is expected in the last quarter of the year, which accompanies the positive performance that it has been sustaining and that exceeds the price index.


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In October, the tax resources totaled just over 1 trillion 964 billion pesoswith a positive interannual variation of 92.8 percent.


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Ignacio Petunchi

The good performance of the collection of that month was driven by progressive taxes such as Profits (128.5%) and PAIS tax (159.7%).

Tax agreement with the US

At the meeting, the head of state also spoke with Castagneto about the progress of the negotiations before the imminent signing of the tax information exchange agreement with the United States.

The agreement, which would be signed on November 28, would increase the tax base for the Argentine treasury of nearly US$100 billion. From it, it is projected that the collection can increase by up to US$5 billion per year.

A delegation from Internal Revenue Service (IRS) dependent on the US Treasury will arrive in the country at the end of the month for its formal signing.

Among its characteristics, one of the most important has to do with the fact that it will be an intergovernmental agreement at the federal level. This makes the declaration of assets mandatory and includes so-called tax havens such as Delaware, Florida, Nebraska or Montana.

Source: Ambito

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