Although, indeed, there will be a roundtrip of data, the times established in the published agreement go against the Government’s claim to achieve broad adherence to the Capital Externalization Law that it will promote in the National Congress in order to obtain resources. to strengthen fiscal accounts.
“The first exchange of information will not take place before September 2024, with respect to data from the 2023 calendar year, it may even be extended for another year, depending on compliance with information security and confidentiality protocols,” clarified the tax official César Litvin in his Twitter account.
The issue of computer security is of special importance in the agreement and there is still no official information from Argentina about its position in this regard.
Regarding the scope of the information to be delivered, the official text of the Treasury Department specifies that they will only be natural persons and companies will not be included. The question is whether the provision of data will be retroactive under the agreement in force since 2016.
For his part, the tax officer Sebastián Domínguez specified that “article 3 point 3 establishes that the information will be obtained and exchanged with respect to the calendar year of entry into force of this Agreement and all subsequent years.”
He then added that “article 10 point 1 indicates that it will enter into force on January 1 of the calendar year following the date of Argentina’s written notification to the United States confirming completion of the necessary internal procedures by Argentina.”
Domínguez concluded that “this implies that the information to be exchanged cannot be from 2022 but, if the requirements are met, it will correspond to the year 2023. And That information would only be received in September 2024.”
The expert remarked that, in this way, “Argentina would not receive automatic information during the current government, but the next one would” and consequently “this weakens the position of trying to approve a money laundering law and achieve broad support.”
In any case, the treatment of the Law promoted by the Executive Power collides with the political paralysis that exists in Congress given the latest crosses with the opposition.
On the other hand, for money laundering to take effect on January 1, 2023, it must be dealt with in the next 10 business days available until the end of the year, which makes it almost impossible to sanction.
“If the country does its homework, the exchange agreement with the US will provide financial information for 2023, no later than September 30, 2024. The box that Massa is looking for does not come from there but from what he can catch, laundering through , as a result of fright”pointed out the economist José Siaba Serrate.
Source: Ambito
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