Massa will sign a tax information exchange agreement with the US

Massa will sign a tax information exchange agreement with the US

Massa announced a tax information exchange agreement with the US. Photo: File

The Minister of Economy, Sergio Massa, announced that next Monday at 12 noon the tax information exchange agreement with the United States will be signed.

“On Monday, at 12, the agreement is signed in an act with the ambassador (of the US, Marc) Stanley, and with the head of the AFIP (Carlos Castagnetto) in the CCK,” said Massa on Sunday afternoon in statements to Radio Con Vos.

the understanding It will allow the implementation, “as of January 1, the law program for tax compliance of foreign accounts or Fatca agreement” with the US, said the head of the Palacio de Hacienda.

“This means that the US will provide us over the course of 9 months -until September 30- with all the accounts of Argentine citizens in the US, individual accounts, accounts of companies made up of Argentines and of Argentine citizens who are members of companies,” said the president. Minister.

Said This information that the US government will provide arises from the data registered from the signing of the W8BN formwhich is the requirement that foreigners have to be able to open ditches in the country of the North.

“The US gives us the financial information of the declarable accounts, with identification of the account holder, identification of the financial institution, gross amount received for income,” among other issues.

“The US gives us the financial information of the declarable accounts, with identification of the account holder, identification of the financial institution, gross amount received for income”

Argentina must carry out the same process, within the framework of an exchange of information that will take place over a period of nine months.

Massa also anticipated that, after the signing of the agreement, the Government will send to Congress a draft law on money laundering.

“We are going to accompany him asking Parliament for a treatment regarding externalization regimes. Tomorrow afternoon we are going to inform what are the principles that we are going to promote. The AFIP and the Secretariat of Public Revenues will inform about that,” said the minister. .

Massa said that The idea is that “before December 30, the treatment of this project will be carried out” in Congress.

Regarding the laundering carried out during the government of Mauricio Macri, the minister pointed out that “if any of those who entered hid information, the externalization regime will be considered as fallen and all the assets of that taxpayer must be reviewed.”

On the other hand, the head of the Palacio de Hacienda pointed out that “the technical staff of the International Monetary Fund (IMF) signed the report that will be submitted to the board of directors approving the goals corresponding to the third quarter, which allows disbursements to be closed this year for Argentina of the order of 6,200 million dollars”.

The minister clarified that “There is a net balance in favor of Argentina of some 2,400 million dollars and all this is an accompaniment of the IMF to the work that we have been doing to order the fiscal accounts and to recover a path of stability in monetary policy and assistance to the Treasury”.

Massa explained that “the important thing is that Argentina has been complying with its international commitments, with the Paris Club, in agreement with the Inter-American Development Bank and the World Bank, giving us the possibility of closing the year with an accumulation program of reserves and peace of mind from the exchange point of view for the Argentine economy”.

In relation to the Fair Prices program, clarified that “there is an agreement between the parties that is signed in which the State and the companies commit to certain objectives, but with a central objective that is that 68% of mass consumption products where 1,909 products have their prices fixed for four months, and on the other hand that the rest of the 32,000 products have an adjustment path that does not exceed 4% per month over the next four months. This agreement was signed by all the supermarket chains, the 101 most important companies, the wholesalers.”

The minister said that “the fight against inflation means that the decrease in inflation is not from one day to the next, we set ourselves the objective of reducing one point of inflation every 75 days and we hope that number 3 will be ahead in April of the inflationary index and it is a commitment that we assume in the National Budget that the reduction of 50% of the inflation for the next year”.

Massa referred to the problems faced by the rural sector regarding drought and late frosts and hail, and said that 168,000 million pesos are available in aid to emergency producers, but to wheat producers and Andean fruit, we are putting together, together with the provinces, an incentive regime and an assistance regime for another between January 1 and March 31.

“It is necessary for the provinces to sanction an emergency declaration for zones or for activities to allow increasing the funding available to the Banco de la Nación Argentina, to grant zero-rate loans, to carry out a system of non-refundable contributions, with many easier for producers”, he completed.

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