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Saturday, January 28, 2023

Litvin: “The agreement with the United States is not going to come into force immediately”

The famous tax official admits it is necessary to “read the fine print” of the agreement announced by Economy Minister Sergio Massa

By iProfessional

05/12/2022 – 10,30 hours

raised by the tax official, Caesar Litvin that application New Tax Information Exchange Agreement with the United States, Announced by Economy Minister Sergio Massa, There could be a delay, it said, pointing out that it needed to “watch the fine print” of the announcement to see whether it would reach only account holders.

“This is a deal tailor-made for the United States,” Litvin said. Who recalled that Argentina has been negotiating since 2016, when an agreement was signed in stages – in the last phase of which – which starts now – automatic exchange has been implemented.

This would achieve a similar agreement that Argentina has made in the framework of the Organization for Economic Co-operation and Development (OECD).Signed by more than 150 countries, it already receives information from taxpayers abroad.

In short, the delay in taking forward the agreement is due to the fact that In 2016, data was leaked from Argentina’s accounts at the Federal Administration of Public Revenues (AFIP).

you have to see the fine print

Litvin indicated in radio statements that “United States calls for tighter rules on tax and information privacy” As for the countries with which it signs this type of agreement, which is actually a dime a dozen for which it is supposed to “It is not going to be implemented immediately.”

On the other hand, the tax advisor clarified that “You will have to look at the fine print of the agreement to see whether it is going to reach only the account holders or include ultimate beneficiaries.

Renowned Tax Expert Agreed That It Is Necessary

The famous tax official admits it is necessary to “read the fine print” of the agreement announced by Economy Minister Sergio Massa

Among other elements, the tax official said the agreement allows the United States to suspend sending information as it recently did with Mexico.

Once signed, the government will send a new anti-money laundering project to Congress to allow taxpayers who don’t have all their papers on hand to file and regularize it.

“There are many people who can launder but want to leave their money abroad,” explained the tax officialWhen recalling the expropriation of capital in 2017 by the Mauricio Macri government, which had no repatriation obligation.

Currently, there is a laundering that has the obligation to invest money in new construction works, And soon, when the 2023 budget is appropriated, supplies for used homes and industry will be included.

precisely, The current laundering has not worked well because those who take capital out prefer not to bring it into the country.

World Nation News Desk
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