Exchange of information with the United States: support requests from major commercial entities

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The group of six that brings together the main corporate entities supported the announcement of an exchange of tax information with the United States. In a statement they said they permanently encourage “the adoption of state policies that promote fiscal order, tax fairness, the fight against tax evasion and the achievement of agreements between countries as a form of integration in the world”.

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However, businessmen have asked the government to generate “the conditions for Argentine savings to return to the country and for foreign investors to choose it as their destination”.

In a note, jointly signed by the Association of Argentine Banks (ADEBA), the Buenos Aires Stock Exchange (BCBA), the Argentine Chamber of Commerce (CAC), the Argentine Construction Chamber (CAMARCO), the Sociedad Rural Argentina (SRA) and Unión Industrial Argentina (UIA), the entrepreneurs, who had already been present at the announcement this afternoon, have strengthened their support for the agreement.

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The letter highlighted “the relevance of legal initiatives that promote the outsourcing of capital, the purpose of which is to reduce the opportunities for tax evasion, broaden the tax base and tend towards greater tax equity”

“The G6 considers essential that the leaders of the various political forces reach basic agreements which generate the conditions for Argentinean savings to return to the country and for foreign investors to choose it as a destination,” the entrepreneurs said.

Banks are a key piece of this deal. This afternoon there was a Finance meeting attended by representatives of institutions and brokerage firms.

In statements to the press over the weekend, Minister Sergio Massa said: “Even the Argentine banks now they have the obligation to be subject to the disclosure of information at the request of the US authorities.

The minister clarified on Monday that the commitment between the two countries “is mutual” to “reach equivalent levels of information exchange”. In this way, both countries have established “that all information is subject to confidentiality”. At the same time, Massa had announced that there is a regime of safeguards between the AFIP on how the procedures are from a technical and technological point of view.

Source: Clarin

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