IMF money laundering: Why the US is key to Christina Kirchner’s plan

America holds the key For Vice President Christina Kirchner’s Prosperity Proposal Get unauthorized dollars abroad, which must first obtain congressional approval. Hence the meeting between the President of the Senate and the representative of the White House in this country: Ambassador Mark Stanley.

The US tax information exchange It is carried out only in specific cases, by request to justice and automatic exchange It governs, however, along with 110 other countries such as Uruguay, Spain, the Bahamas, the Virgin Islands, Switzerland and Germany, among others.

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The Argentines have $250 billion unauthorized out of the system, but they are not necessarily outside. They may be in safe deposit boxes in the country or ‘under the mattress’.

How much money laundering is he trying to collect?

senator front everyone, Giuliana Di Tullio explained at C5N that she is seeking to raise “about US$70,000 million”. With the debt repayment project with the International Monetary Fund (IMF), which It will cover the $44.4 billion in the Extended Facility Agreement (EFF) and interest.

For the IMF, avoiding evasion makes it possible to finance the reforms that Argentina needs. The IMF team notes in its report on the EFF program that it is essential Combating tax evasion and money launderingto improve the effectiveness of reforms and support anti-corruption efforts.”

“In this context, Christina’s interests are aligned with those of the IMF because the IMF wants to charge fees for whatever it takes,” the tax expert noted. Even Sasofsky, of Sasovsky & Co..

Tax exchange with the United States

“The Sharing information with the United States is not automatically valid But it can take effect. The US government can Submit a list of existing agreements, which are upon request. Not financial information, but tax information,” Sasowski explained about Kirchner’s request for “cooperation” from Stanley.

“The United States is the most difficult country to exchange information“It does this on a case-by-case basis, with complaints about undeclared activities that seek information from the judiciary, but it is not automatic,” he added. Fernanda Lin, Partner at LFS Tax.

This project seeks to create a series of characters for Disclose the assets owned by Argentines abroad and do not announceThe specialist indicated.Suggests money laundering in the first six monthsA: For those who declare during that period: 20% the proportion of goods abroad without fines or fines. But after six months, if the AFIP finds out about it and the person agrees to pay it, he pays 30%. from there, If you don’t declare, you pay 35% and all unpaid taxes“.

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“The exchange of information with the United States has requirements that must be answered, There must be relevant dataAl Rafid commented Cesar LitvinAnd the The law firm of Lisicki Litvin y Asociados. The form used is the automatic form, where annual data on citizens with financial assets is sent. But Litvin notes that “No progress can be made because Argentina does not meet the security standards information technology to start this exchange.”

Mariano Sardan, CEO, FDI Wealth ManagerI agree to that “The United States shares information with many countries but retains the ability to do so with those who misuse financial information. This information is confidential. United States of America Do not share data with countries that use it extortionlyHe added that he expected it “does not seem viable” to accept Kirchner’s request.

heart stimulant

Sasovsky warns that “the dangerous thing is the Collaborator characterwhich is like a file Penance law but that will give 30% profit. who cooperates thing embarrassing and dangerouswhich can be used against opponents, journalists or judges”, says the tax expert. In any case, he estimates that the initiative, which also had the support of Casa Rosada – according to a spokeswoman Gabriella Cerruti – could flourish in Congress. Litvin was more skeptical based on the opposition’s initial reactions.

Lytvyn referred to the bill, which “entered through the senators and should have entered through the deputies because it’s a tax issue.” Meanwhile, they asserted in the Senate that “this is not a tax, it is a contribution.”

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The proposal “generates uncertainty” because of the number of the informant collaborating that “Can generate extortion fest”, They agreed to the tributary. I noticed that too The bill removes the suspensive effect and requires payment prior to discussion. He pointed out that it is “a setback for the guarantees of the right of defense before the National Tax Court.”

Lane also referred to the character of the “collaborator”, the people who are given secrecy and “They were promised a 30% prize, but it is subject to change and they may end up not receiving everything.” The project also “allows Lifting banking secrecy.

In this context, Sardan considered that the country has a “history of financial data abuse” that plays against the request for assistance from the United States and gave as an example That the central bank report that bought the dollar“.