The Federal Administration of Public Revenue (AFIP) has notified taxpayers who have assets abroad and have not reported their assets abroad in the personal wealth or income tax returns corresponding to the 2018 fiscal year. he universe of taxpayers achieved is made up for more of 2,500 human persons.
The agency obtained the financial data through a cooperation mechanism of the OECD (Organization for Economic Cooperation and Development) with more than 100 countries, which does not include the United States. The quote implies it now beneficiaries must clarify the situation of their companies outside the country and regularize them. They are therefore subject to penalties, interest and penalties.
What do the alerts say?
“We have contacted you to inform you that accounts or financial holdings have been taken over in your name in Uruguay with a total balance of XXXX for the period 2018, that have not been included in your Affidavit of the tax on personal property for the year 2018 ″, we read in the quotation sent.
And in that line he continues: “According to what is reported by the aforementioned jurisdiction, the receipt of payments on the aforementioned accounts or financial availability, equal to the sum of XXXX and to be included in one’s personal income tax deed, has occurred”
The letter, which consists of four paragraphs, continues: “The identification of the accounts or financial assets is the result of the exploitation of the information received fromby AFIP through the OECD Common Reporting Standard, an international mechanism that provides for the annual automatic exchange of such information between more than 100 countries ”.
And he concludes: “Failure to comply with the prescribed presentations is affected by the provisions of the Tax Procedure Law, for which, where applicable, sanctions and sanctions will be applied. Please note that, if the non-compliance persists, the processes can be started. part of this body. If you accept the tax request, you must submit the corresponding corrective substitute declarations. The system will automatically validate the situation and start the procedure. “
by AFIP confirmed the notifications that were sent to the electronic tax domicile of said taxpayers. Most have accounts in Uruguay, Spain, Switzerland and Italy.
The universe of taxpayers reached is made up of more than 2,500 people who have shown differences in:
- Financial holdings reported in the deed of notoriety of personal assets with respect to what is reported abroad.
- Payments generated by said assets in the tax return deed.
“This comes on top of over 5,000 other cases submitted for audit since 2020, 136 of which were sent in the last month, and some are already under investigation and control within the General Tax Directorate (Dgi), “Afip explains in a letter.
The notifications sent are the result of the automatic exchange of financial account information (CRS) agreed between Argentina and third party exchange partner countries. The objective pursued is to avoid tax evasion maneuvers.
Tax specialist Sebastián Domínguez, CEO of DSC Tax Advisors, commented: “This is due to the exchange of information through which Argentina receives from nearly 100 countries that Argentines have accounts abroad.”
“AFIP has already received it for several years and is taking action“, he clarified. And he added: “Sometimes it generated inspections, opened an inspection order and sometimes sent this type of notification or request.”
The tax expert explained that notifications and warnings do not always mean that there is a situation to be regularized. “Many times it is declared by one (by the owner) and they also warn the co-owner. And there is nothing to regularize there.”
YN
Source: Clarin
