In the framework of a conference held at the Professional Council of Economic Sciences of the City of Buenos Aires to clarify key aspects of the Asset Regularization Regime, Misrahi pointed out that taxpayers should take advantage of until September 30thsince once it is concluded they will not be able to enter any other initiative of this type until 2038″ while adding “the recommendation is that whoever enters can do so and does so for all their hidden assets.”
“The world is becoming transparent: There are fewer and fewer refuges for informality and the concealment of income and assets“, said the specialist in international financial, commercial and tax law.
With the aim of encouraging adherence to money laundering, the head of AFIP showed through examples that A person could end up paying 10 times more money if the agency detects undeclared assets, compared to if that same person formalizes their holdings.
It was also explained how, By investing the funds in the securities offered by the Ministry of Economy, more than US$100,000 can be regularized without paying the special tax. and clarifications were given on differences in valuations, among other issues.
On the other hand, Misrahi He stressed that, for the first time, the head of AFIP is received by his counterpart from the Internal Revenue Service (IRS) and that the exchange of information with the United States will become a reality in a few weeks. “The agreement provides us with information on Argentine accounts in the United States and also, and above all, opens the door to data on final beneficiaries in jurisdictions that are the main destinations for corporate structures created to obscure and hide,” he added.
He also listed that AFIP has bilateral agreements with 29 countriesincluding Monaco and South Africa; FATCA agreement with the US for the annual automatic exchange of financial information; the multilateral in the framework of the Organization for Economic Cooperation and Development (OECD)-CRS with more than 100 nations for the annual automatic exchange of financial accounts and the multilateral convention within the OECD which facilitates the exchange of tax information with 146 countries in all its forms.
According to Misrahi, the Asset Regularization Regime “is the most beneficial in Argentine history, because does not pursue revenue-raising purposes, but rather its The objective is to expand the taxpayer base and thus build a new country.”
The president of the CABA Council, Gabriela Russothanked AFIP for its clarifications, and also praised the recent postponement of the Income Tax and Personal Property Tax. “From the Council we will continue to contribute in whatever is necessary so that these tax processes and measures that are in force are successful, because our country’s progress will depend on that,” he declared.
Misrahi also praised the “professional work of the registered colleagues” for their essential role in “guaranteeing the fiscal solvency of the State.”
The AFIP Deputy Director General of Tax Collection, Dr. José Bianchi; the Deputy Director General of Planning and Institutional Coordination, Dr. Paola Cuppari; the Deputy Director General of Taxpayer Services, Dr. Carolina Lambardi; and the Deputy Director General of Legal Affairs, Dr. Gustavo Paturlanne, also participated in the activity.
Source: Ambito
