January 27, 2023

Lakeview Gazette

Complete News World

Undeclared accounts in the US: Fresh laundry and prints of the deal signed this week

In the hunt for dollars, Sergio Massa reiterated that a tax information exchange with the United States will be signed this week to trace the undeclared accounts of Argentine taxpayers. New Anti-Money Laundering Bill to Repatriate Funds.

This was pointed out to traders during the Inter-American Council of Commerce and Production (Cicyp) meeting on Thursday. “The 2022 financial year will be part of the agreement, which we are already working on Draft a good law to regularize Argentina defrauding the tax authorities Bringing their dollars to the country and building value for the future,” Massa said.

Soybean Dollar 2 and “Platita” Plan Rejected: What Sergio Massa Said About Several Key Points of the Upcoming Economy

Unreported accounts in the US: Who is under AFIP’s microscope with tax treaty?

In total, the unreported funds in US accounts are approx US$100 billion according to official estimatesAnd according to calculations, 1 billion US dollars per year could enter for tax payments.

Sergio Massa expected a new money laundering before businessmen

The United States exchanges information through IGA agreements FATCA (Foreign Account Tax Compliance Act).

Argentina is on track to sign a reciprocal IGA 1 The United States “only exchanges information about bank account holders, not beneficial owners.”“, according to a report by Carta Financiera, in recent radio reports, Massa warned that foundations will also be analyzed.

How the exchange works with the US

Under this system, Report on accounts with balances above USD 50,000 million And experts’ recommendation is to create an LLC instead of individual accounts.

AFIP goes on to put pressure on companies: it says they are less profitable and want to add to the balance sheet

See also  Lula propone is a monetary tool to access and integrate | Opinion

Mining manages to open the dollar pipeline: Is it enough to keep the industry from shutting down production?

application It is not retrogradeHowever, once the account is identified, AFIP may request prior information for the 2017 contract.

“The information transferred is provided by Form 1042: account number and income from US sources (dividends and interest from US sources). In principle, balances are not reported, but you can claim it with the AFIP account number. If it is a non-interest bearing account,” the finance letter elaborated.

New bleaching

Masa has the expected laundry rating for businessmen. As of now, Senator Oscar Parrilli’s plan to outsource assets is already in place, with moderate approval in the Senate. However, the economic committee is analyzing a new plan that must go through Congress. The agreement with the US will enter into force in 2023.