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Argentina and US Sign Agreement to Share Tax Information

By: Raquel García - @venturaG79 - Dec 23, 2016, 6:45 pm
After a tumultuous relationship during the Kirchner era, Argentina is seeking to normalize economic ties with the US (
After a tumultuous relationship during the Kirchner era, Argentina is seeking to normalize economic ties with the US (La Voz del Interior).

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The governments of Argentina and the United States signed a tax information exchange agreement on Friday that seeks to combat tax evasion and promote transparency.

“This agreement paves the way for the reinsertion of Argentina into the world economy and constitutes a major new step forward in the relationship between the United States and Argentina,” US Treasury Secretary Jacob J. Lew said in a statement.

The US official said in the statement that the agreement will facilitate cooperation between the two countries in initiatives related to the implementation of tax legislation.

Meanwhile, Argentine Finance Minister Alfonso Prat-Gay said that this agreement is a consequence of the efforts being made by his country to regain credibility and that the Argentine government is rebuilding institutions, governance, and undertaking structural reforms.

Prat-Gay stressed that three months ago, technical teams from the Ministry of Finance, the Federal Public Revenue Agency (AFIP) and the Internal Revenue Service (IRS), were working together to reach an agreement.

“AFIP will now have a valuable tool to detect, in the territory of the United States, undeclared assets by Argentine taxpayers who decide not to take advantage of the opportunity to get their financial house in order,” said the minister of Argentine treasury.

From the date the agreement takes effect, agents in the administrative realm from one nation, without need for a judicial judgment, may request to obtain information from the other nation’s tax authority, allowing them to better monitor their taxpayers and, eventually, bring about a reduction in tax evasion, according to the Ministry of Finance.

The Argentine official said that the agreement is in addition to the recently signed deal with authorities of the Swiss Confederation (Switzerland), which will enter into force in January, in conjunction with 45 other nations. “It will be increasingly difficult for Argentines to keep assets abroad without declaring them,” said the minister.

AFIP sources told Infobae that with an online search of the taxpayer’s name, the agency will be able to determine if an individual in question has bank accounts, shares, bonds, or real estate in his or her name in the United States.

The agreement for the exchange of tax information with the United States comes at a time when the government of Mauricio Macri is carrying out an ambitious program that could mean in the coming months seek to account for between USD $30 billion and $50 billion held by Argentines abroad, according to Infobae.

Source: Infobae

Raquel García Raquel García

Raquel García is a Venezuelan journalist with over 16 years of experience in digital outlets and radios. She currently lives in Buenos Aires, Argentina. Follow her @venturaG79.

After Problems in California, Uber Moves Self-Driving Cars to Arizona

By: Karina Martín - Dec 23, 2016, 5:13 pm
Uber's fleet of self-driving cars has caused clashes with San Francicso regulators (

Español Uber, the private transportation company, has decided to move its driverless car project from San Francisco to Arizona. The announcement was made after Arizona Gov. Doug Ducey used social media networks to promote the state as an alternative for Uber to test their cars without drivers. Read More: Uber Launches in Guatemala, with Taxi Drivers Prepared to Fight Back Read More: Cuban Mobile Startup RenC Promises to be the Island's Uber Uber should forget California and head to the Grand Canyon state, Ducey wrote on Twitter. Uber, which had 16 unmanned cars registered in California, had to look for another alternative, following the state of California's refusal to grant the company permits. "Arizona welcomes Uber's self-driven vehicles with open arms and wide open roads. While California puts the brake on innovation and change with more bureaucracy and more regulations, Arizona is paving the way for new technologies and new businesses," Ducey said in a statement. The government of California revoked the registry of Uber's driverless cars, following a video in which one such car drove through a red light. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); }); A spokesman for Uber also reported the move to Arizona via an email. "We will be expanding our driverless car pilot program in the coming weeks. We are very pleased to have the support of Governor Ducey." "Our cars left for Arizona this morning in a truck," said the spokesman for the private transport company. Uber has guaranteed that it "remains 100% committed to California and will redouble efforts to develop driverless cars that comply with state regulations." Currently only twelve of fifty states in the US have passed regulation and/or legislation dealing with self-driving cars. California was among the first to adopt regulations permitting experiments with self-driving cars. Uber's regulatory mishaps were prompted by their failure to receive necessary permits to operate the vehicles within San Francisco city limits. Uber is no stranger to controversy, or butting heads with regulatory authorities. Its disruptive technology has often prompted legal systems to confront novel situations and contexts. Sources: Cnet, El Nuevo Herald, HiperTextual

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