This was reported by the AFIP in a statement.This is the first time that a top authority of the AFIP has been personally received by the head of the American entity.”it was reported in a statement.
After the meeting, the official recalled that “the Asset Regularization Regime of the Javier Milei government is the most beneficial in history.”Taxpayers must take advantage of this opportunitybecause they will be able to declare their savings at no cost and, once it is concluded, they will not be able to enter any other initiative of this type until 2038,” he said.
It is estimated that in The United States has undeclared Argentine money of around US$100 billionThe agreement signed last year by AFIP and IRS establishes a massive exchange of data on Argentine taxpayers with accounts in the North American financial system. as of December 31st.
“The same will allow identify the holders of such accounts, the financial institution required to report the amounts of interest and other income from U.S. sources,” the note states. The IRS will not report the final account balances.
The statement notes that “Based on this data, the AFIP will be able to make other requests for information at the request of the framework of its control and oversight actions.”
The meeting took placeor at IRS headquarters in Washington, DC. There, the head of the AFIP finalized details on the information to which the agency may be accessed under the Foreign Account Tax Compliance Act (FATCA).
In addition, during the visit, control mechanisms aimed at improving international taxation processes were discussed, with the purpose of Strengthen AFIP’s detection capacity through the use of data analytics.
The meeting was also attended by: Deputy Commissioner Douglas O Donnell and Jennifer Best, Deputy Commissioner for Large Business and International Affairs.
“The Asset Regularization Regime is a very advantageous one-stop shop “For those who want to start putting their accounts and assets in order with the AFIP, with the assurance that international standards will be used in terms of information technology and confidentiality,” Misrahi said.
As part of these efforts carried out throughout the year, The head of the AFIP held a meeting at the United States Embassy with the representative of that government in Buenos Aires, Marc Stanley During this meeting, both authorities analyzed the status of current bilateral agreements and conventions.
In addition, he headed a panel dialogue with bankers and technicians of the financial system to help ensure that the institutions involved in the exchange of information are prepared to meet their obligations in a timely manner.
At IRS headquarters, the head of AFIP also held meetings with Erin Collins, head of the National Taxpayer Ombudsman’s Office, and Barry Levine, director of Data Solutions, with whom she discussed the implementation of the measures adopted to achieve the effective exchange of information.
Source: Ambito
