The Government of Argentina is contemplating joining the international mechanisms for exchanging information on users of bitcoin (BTC) and other cryptocurrencies with the aim of avoiding tax evasion.
The information was released by Mercedes Marcó del Pont, head of the Federal Administration of Public Revenues (AFIP), within the framework of the General Assembly of the Inter-American Center of Tax Administrations (CIAT), which is currently taking place in Buenos Aires, capital Argentina.
The objective, according to Marcó del Point, is to prevent cryptocurrencies from “becoming instruments that facilitate (tax) evasion”, as pointed out by a release of the AFIP.
The also Argentine economist indicated that the AFIP supports the proposal that states that countries should send and share global reports of crypto assets. In turn, they support the modification of the automatic information exchange mechanism of the Organization for Economic Cooperation and Development (OECD), so that it includes cryptocurrencies and investments in cryptoactives in its statute.
“The recent experience of Argentina shows that the automatic exchange of information on financial accounts is a central tool to combat evasion maneuvers of the sectors with the greatest tax capacity,” said Marcó del Point.
AFIP collected tax from Argentines in the world
Marcó del Point explained that, during the last two years, AFIP’s access to international mechanisms allowed the agency to collect more than 800 million pesos in taxes evaded from financial accounts of Argentines around the world.
The official also indicated that they have an information system that, as happens with financial entities, forces the purses or virtual wallets to report information regarding the accounts of their clients.
This meant, in the words of Marcó del Point, that of 15,000 taxpayers with tax debts, the agency resolved more than 5,000 cases of defaulters who handled crypto assets. The collection resulted in the regularization of debts for more than USD 11 billion.
“We deepened the recovery of the capacities of the State in terms of control to control avoidance and evasion, with the focus on increasing the contribution to the collection of the sectors with the highest taxpaying capacity,” according to Marcó del Pont.
Argentine Government Moves Forward With More Policies Targeting Bitcoin
In the last hours it was announced that The Government of Argentina reported that will include technology Bitcoin in the mission and scope of the Mint.
To carry this initiative forward, the president of the Argentine nation, Alberto Fernández, decreed a reform in the organic statute of the entity that came into force today, April 27, 2022, as reported by CriptoNoticias.
The reason for this change is due to the need to update and expand the corporate purpose of the Casa de la Moneda.
In this way, the Mint has the power to develop, manage and operate software to manage operations related to digital certifications, digital governance and centralized and decentralized databases, among others.