The objective will be to detect irregular maneuvers with greater “assiduity and immediacy”. In addition, the organization seeks to have a delegate in Miami
By iProfessional
30/03/2023 – 21,05hs
The different areas of the Federal Public Revenue Administration (AFIP) continue to work on various agreements with the United States government to detect overcharging, undeclared deposits or other irregular maneuvers that help transparency and collection.
Such is the case of Customs, which after a meeting between its head, Guillermo Michel, and the deputy director of Homeland Security Investigations (Immigration and Customs Control Service), Ricardo Mayoral, made the measure official to start the exchange of information customs through the the system called Trade and Transparency Unit (TTU).
Customs reaches an exchange agreement with the United States: what does it seek to detect?
According to representatives of both organizations, the objective will be to speed up the automatic exchange so that, As of May, Argentina receives information from the TTU “more regularly”.
In this sense, after the meeting in Washington, Michel added “the information provided by the TTU made it possible to dismantle irregular maneuvers in an emblematic case such as that of NRG, a firm that overinvoiced imports of capital goods for US$232 million.” And he highlighted the possibility of receiving data “with greater regularity, something essential to jointly ensure the transparency of international trade.”
On the other hand, the Customs reference anticipated that Argentina began negotiations with the Joe Biden administration to have a delegate in Miami, “which would make it possible to analyze the information provided by the United States more immediately.”
The Customs reference was shown walking through the streets of Washington together with the Minister of Economy, Sergio Massa and took the opportunity to meet with Mayoral while the minister visited the IMF and President Alberto Fernández did the same with his American counterpart.
The Customs agreement with the United States seeks to detect fraudulent maneuvers more quickly.
The United States published the information sharing agreement
He agreement does not include balances of deposit accounts or movements of securities of custody accounts (brokers), so the AFIP will have more obstacles and will have to carry out more work to identify, based on returns, those balances and movements, said Guillermo Pérez, CEO of GNP Group.
The information will always refer to interest, dividends and other income whose source is from the United States and which are subject to being declared in that country, in accordance with Chapter 3 of the US Internal Revenue Code, said Félix Rolando, from the Andersen study in Argentina. .
The main characteristics of the FATCA financial information exchange agreement signed with the US are the following:
- In 2021, the United States sent the updated draft of Model 1 of the IGA agreement and currently it is the only one that negotiates and subscribes, reports in Memorandum.
- Argentina negotiated a reciprocal IGA 1 Model Agreement.
- Among the possible agreements to celebrate It is the broadest in that there are commitments and obligations on both sides.
- If all notifications and protocols are complied with, the agreement enters effective January 1, 2023.
- The agreement includes all 50 US states, including Delaware and South Dakota.
The United States only excludes American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the US Virgin Islands from its definition of US territory.
