The AFIP (Federal Administration of Public Revenues) began to audit the bank accounts that Argentines have abroad, since in some cases the taxpayers’ declarations present irregularities.
The organism analyzes the tax data of 1,800 citizens with information obtained by the AFIP from more than 90 countries, because after having analyzed the fiscal periods 2016 and 2017, it managed to raise more than $1,300 million.
Consequently, now the AFIP analyzes not only fiscal periods 2020 and 2021, but also those referring to 2018, during the administration of Mauricio Macrisince the data “would not have been analyzed in a timely manner,” according to the agency.
The information received by the collection entity comes from more than 90 countries, thanks to the Multilateral Agreement of Competent Authorities for the automatic exchange of information on foreign bank placements that was signed in 2014.
With these data, the AFIP it crosses the information of each taxpayer in order to verify if there are irregularities in the declarations and tax evasion, including hidden assets.
“Until now, 2,400 cases of Argentines with accounts abroad have been analyzed and 700 cases with irregularities were detected that implied adjustments for some 1,300 million pesos in evaded taxes. Now 1,800 cases are analyzed “as reported by the entity.
This, given that “since the beginning of 2020, The Argentine tax administration began to analyze in depth the official reports submitted annually as part of the mechanisms established by the G-20 and the OECD to address the damage caused by tax havens within the framework of the Common Reporting Standard”.
What are the most common cases
The organism reported that four frequent cases of evasion were detected among taxpayers:
- They declare an account abroad, but the amount reported is less than what appears in the information received from abroad.
- They did not declare financial placements abroad in their presentations of Personal Assets.
- They did not file a Personal Assets Affidavit.
- They are not registered.
In cases in which the taxpayer denies the existence of the account abroad, the collecting entity activates “the exchange of information, upon request, to request specific queries to the tax administrations of the countries involved,” as detailed.
