Argentina and the United States signed the FATCA (Foreign Account Tax Compliance Act) agreement last week and it is still necessary to outline final technical aspects to bring the understanding into operation on January 1, through which massive expected to be received. Will be analyzed by AFIP.
The agreement published by the US Tax Control Agency (IRS) stipulates that if it comes into force from January 1, the information collected will cover the entire calendar year and the United States will send reports by September 30, 2024.
In the event FATCA is not operational by January 1, 2023, the distribution of the data will be postponed until 2025. However, the governments of Argentina and the United States are confident that everything will be ready to implement the plan. cooperation next year .
The government has just signed an information exchange agreement with the United States that will allow it to automatically monitor data on Argentine bank accounts and financial investments that have not been declared in Joe Biden’s country.
AFIP is working on fine-tuning the technical details to begin full operation of the system which will allow visualization of an estimated unallocated capital of US$100,000 million. In front of everyone they insist that understanding breaks through tax fences of great magnitude.
Now, the US Tax Agency (IRS) must notify Argentina of reportable accounts in Argentina, defined as financial accounts maintained at financial institutions in the United States, regardless of their type, and Whose holders are residents of Argentina.
AFIP shall obtain personal data of the person identified as the owner, whether an individual or a formed company, account number and name of the bank, amount paid as interest, dividend, balance, royalty or any income type of
They talk to AFIP about the most important agreement in recent years, as it will allow them to obtain unprecedented information.
The crossing of information will have no boundaries and will include both natural and legal persons, as El Destép learned. Since the understanding does not modify any tax base, there is no need to introduce it into legislative discussion. Only the United States Congress would be notified to bring it into operation.
AFIP technical teams are working on final details to readjust the tax system by implementing security software, which was requested by the United States to close the agreement.
Meetings were also held with national banking institutions for readjustment under this new security regulation.
Sergio Massa announced a reduction in the prices of sports shoes by an average of 20% after the Ministry of Economy signed an agreement with traders in the area, and speculated that they would like to extend this to the rest of the sports.
The agreement, in which major shoe manufacturers participated, envisages a reduction of up to 20% in prices applicable till December in brands and models of shoes with the highest turnover in the market.
In addition, the agreement provides for a price path of up to 3% for the months of January, February, March and April. As such, the Ministry of Economy stressed that “it continues to promote measures aimed at stabilizing prices.”
UOCRA gains 105% of supporters
The Construction Workers’ Union (Uocra) and the Argentine Chamber of Construction (Camarco), led by Gerardo Martínez, agreed yesterday to reopen parity with a new wage adjustment of 29 percent, bringing the total to an annual improvement of 105.
The construction union closed its parity 76 percent in November.
“The 29 percent received today (yesterday) was added to the 76 percent previously agreed until last November, reaching an annual increase of 105 percent, and will take effect in four tranches of 8 percent each this month, another 8 percent in January.” , the same in February and the last 5 percent in March 2023,” Martinez said in a statement.
The union leader pointed out that the new wage increase agreed with Camarco will benefit more than 430,000 construction workers across the country.
