Reflections on the agreemente for automatic exchange of financial information signed betwen Argentina and the United States of America and its impact on holders of undeclared assets in that jurisdiction

Abstract

The objective of this paper is to analyze the Agreement for the Automatic Exchange of Financial Information between Argentina and the United States that entered into force this year. Examine its diferences with the agreement signed with said jurisdiction in 2017, as well as the possible implications for Argentine investors with undeclared assets in the United States. For this purpose, the Argentine experience gathered by virtue of the Multilateral Agreement on the Automatic Exchange of Financial Accounts (CRS – OECD) regarding compliance, accuracy and validity of the information transmitted will be taken into account. The use made by the Argentine Tax Administration of the information received and the results obtained will also be analyzed. Finally, a parallelism will be made between the Law of "Tax Candor" promulgated at the time of the signing of the CRS - OECD agreement, and the Bill called "Externalization of Argentine savings" currently promoted.