During an international event organized by the Global Forum of the Organization for Economic Cooperation and Development (OECD), which was held virtually, Marcó del Pont said that “The exploitation of information on financial accounts of Argentines abroad allowed the AFIP to collect more than $ 600 million over the last two years in evaded taxes.”
“A little over five years ago for many tax administrations the only source for international taxpayer information was leaks such as the Panama Papers. Now we have different tools such as those provided by the automatic exchange of information ”, the official highlighted.
In addition, it indicated that “The data used by the agency to collect evaded taxes from companies and individuals comes from more than 90 countries that share their records automatically, as part of a global mechanism for the exchange of information on bank placements.”
The head of the AFIP also remarked that “increasing the exchange of tax information is one of the tools that Latin American countries have to increase equity in the region.”
As part of the mechanisms provided by the G20 and the OECD to deal with the damage caused by tax shelters, Marcó del Pont recalled that “Argentina annually receives complete personal data of the holders of bank loans and precise information on the accounts.” , such as the number, the balance at the end of the year and the interest credited.
There are hundreds of thousands of bank records that, based on objective parameters and information cross-references, select a universe of cases to be investigated.
In this sense, the official said that “tax evasion is one of the main conditioning factors when improving genuine financing for development in Latin America and restricts the sovereign capacity to have the necessary resources to promote public policies in infrastructure, health , education, among others ”.
Likewise, he highlighted that there are still many challenges ahead, and stated that “computer development still needs to be improved to automate the exchange of tax information and the crossings with the information regimes that allow us to take advantage of the information exchanged.”
In addition to starting to exploit financial information from abroad, last year the AFIP established a registry of final beneficiaries for companies and trusts, created an information regime on tax planning, established guidelines to exploit the data and expanded the network of agreements of information exchange.
Source From: Ambito
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