AFIP continues to advance in the implementation of the automatic exchange of financial information with the United States, which began in December 2016, through the signing of the Tax Information Exchange Agreement between the Government of the United States of America and the Republic of Argentina.
Since the signing of the FATCA Agreement between both countries, which occurred on December 5, 2022, the AFIP has been working to make the First exchange of financial information to take place in September 2024, based on the information that the AFIP receives from financial institutions subject to reporting.
To this end, Federal Administrator Florencia Misrahi met this Tuesday (09.04.2024/XNUMX/XNUMX) with the main entities and associations of banks, and organizations involved in the financial reporting regime (FATCA) in order to help the affected institutions comply with their obligations in a timely manner.
At the meeting, AFIP also provided entities with the technical specifications necessary to adapt their financial information submission systems through the manual “CRS and FATCA financial information regime”.
In this way, the AFIP takes a further step and moves closer to the effective exchange of automatic information with the United States.
The information exchanged within this framework will increase international tax transparency and improve the access that tax administrations have to taxpayers' financial information, as well as improve tax compliance by reducing tax evasion.
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