The Federal Public Revenue Administration (AFIP) modified the Financial Entities Information Regime by which the fiscal agency will receive data from the accounts of Argentines living abroad and will also provide this information on foreigners who have accounts in our country.
From this mechanism, In 2017, Argentina will receive information from 50 countries, and at least 2018 more countries will join in 50. The Organization for Economic Cooperation and Development (OECD) will provide technical assistance for the transmission of data, guaranteeing the confidentiality and protection of the information.
The measure was established through the General Resolution No. 4056 published in the Official Gazette.
This reporting regime is aimed at financial institutions such as banks and insurance companies, among others, which will report the data of account holders with their balances in the original currency.
This information will be received until June 30 of each year (date that was modified since the previous deadline was until May 31 of each year).
It should be noted that this regime is part of the Multilateral Agreement between Competent Authorities that Argentina signed in October 2014, by which it is obliged to comply with the standard for the Automatic Exchange of Financial Accounts of Non-Residents, as a member country of the G20 and associated with the OECD.
Source: Afip
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