The agreement with the United States that must be activated to detect smugglers in that country

In accordance with this agreement, AFIP shall automatically receive strategic financial and tax data on the movements of residents in the Argentine tax system, including “in-company” operations, based on transfer rates.

The agreement was the first to be struck between the two countries, and is compliant with the Tax Planning Information System, a tool used globally to avoid evasion and prevent money laundering. In fact, it is also a tool promoted by the Organization for Economic Co-operation and Development and the Group of Twenty so that governments can identify areas of risk in tax matters early, and is already in place in European Union countries as well as in the United States, United Kingdom, South Africa, Canada and Mexico.

Argentina began negotiating the agreement directly with Barack Obama’s administration in June 2016. Benefiting from the good alignment between Macri and Obama, it made progress in seeking a “double taxation and information-sharing” agreement with the United States. , so that it can be applied once the money laundering has expired. The then-Secretary of the Treasury, Alfonso Pratt Jay, had discussed the matter with then-US Secretary of the Treasury, Jack Lew, on October 6 of that year, when the US official visited Buenos Aires. There, Lu promised the finance minister that upon his arrival in Washington, negotiations would be accelerated.

It is considered in Buenos Aires that by this Agreement between the AFIP and the IRS the cooperation of the United States shall be achieved for the domestic attack to expose the evaders; Provided that the project to create the “National Fund for International Monetary Fund Debt Cancellation” becomes law (see more information on this topic on page 6).

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However, it is not yet clear whether the agreement will be sufficient alone, or whether some kind of judicial cooperation protocol should be implemented between the two countries, as banking secrecy in the United States governs and only with the intervention of a judge is lifted. So far, only with the application of diplomatic obituaries between judges, can the AFIP-IRS agreement be applied. So far, there have been no huge requirements, and the protocol for the future type of requests for information must be done so that the standard can be implemented. Even in this case, it will also be necessary to receive concrete evidence from the United States of the financial and recordable activities of a taxpayer or natural person with activity in Argentina, who has brought undeclared funds into the country. Only with this type of document will the IRS be activated. That kind of cooperation would be what Cristina Fernandez de Kirchner requested of the US ambassador to the country, Mark Stanley, at a meeting Wednesday in the Senate.

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