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Argentina to Sign FATCA Tax Deal With US Today

ARGENTINA
  • State news agency Télam has reported that Economy Minister Sergio Massa announced the tax information exchange agreement with the United States will be signed today.
  • The US ambassador to Argentina Marc Stanley and the head of AFIP Carlos Castagnetto will participate in the signing ceremony.
  • “United States will provide over the course of 9 months - until September 3 - all the accounts of Argentine citizens in the United States: individual accounts, accounts of companies integrated by Argentine citizens and accounts of Argentine citizens who are members of companies,” said Massa in a radio interview.
    • As a reminder, Massa said the purpose of program is to punish Argentines who evade local taxes and encourage them to declare their holdings abroad with local tax authority AFIP.
  • Separately, the IMF said its staff and Argentine authorities reached a staff-level agreement on the third review under Argentina’s 30-month Extended Fund Facility arrangement.
    • Agreement is subject to approval by the IMF executive board, which is expected to meet this month.

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