MercoPress. South Atlantic News Agency
Argentina and China agree on tax transparency and exchange information
Ricardo Echegaray and Xiano Jie at the signing ceremony in Buenos Aires Argentina and China launched an agreement to exchange tax information involving physical persons, business associations, trust funds, foundations and any entity liable of fiscal responsibility.
The announcement was formally done in Buenos Aires and is in the framework of the OCDE tax transparency and information exchange accepted regulations.
Argentina has 59 companies with shareholders in China and 12.213 physical persons from China are involved in trade and commercial activities said Argentina’s Federal Administration of Revenue, AFIP the country’s federal tax revenue office.
The exchange of information is possible following on Beijing’s conclusion of domestic legal procedures to make effective the agreement which was signed at the end of 2010 by Argentina’s AFIP head Ricardo Echegaray and China’s Commissioner for the taxing administration, Xiano Jie.
“It’s a great step forward for both countries since China is an important trade partner of Argentina”, said Echegaray.
Last year Argentina exported 6.4 billions dollars to China while Chinese sales reached 8.3 billion.
“We started negotiations well over a year ago and now the agreement has become a powerful tool to ensure transparency in trade operations”, added Echegaray.
The agreement covers all current taxes both for Argentina and China, with exception of tariffs.
“This is an open agenda for both countries “, said Echegaray.
Under the terms of the tax transparency and information exchange program, fiscal authorities from both tax revenue offices can make inspections in both countries.
“We are certain the implementation of the agreement will further promote Chinese investments in Argentina” said Echegaray. In the last two years China has invested over 15 billion dollars in Argentina mostly in mining, energy, finance and railways.
The agreement covers funds and societies trading in the stock exchanges of Shanghai and Shenzhen and similar markets in Buenos Aires.
Top Comments
Disclaimer & comment rules-
-
-
Read all commentsso, argentina is going to give all personel and private information of her own people to china, very clever move, by the time this finishes, they will know what bed sheets you sleep in, and what you had for breakfast,
Sep 20th, 2011 - 12:10 am 0they will amas this info, and work on your weakneses, and in return you will know as much about china, as most experts do [very little]
now i could be very wrong here,, but giving another nation information on your own people, to another country that you have just only met,
is nothing short of stupidity,
am i totaly off the right track, no doubt some kind sole will tell me .
Isense argentina edging towards communism just so CFK can stay in power after her next term ends. Though no doubt the argentines on here that make themselves and there rest of their countrymen look bad will probably settle for communism on the promise that CFK will get the falklands back, not that thats ever going to happen unless they want ww3 with argentina and china v USA, UK, EU, rest Nato and the commonwealth countries.
Sep 20th, 2011 - 01:21 am 0@ 1 “very clever move” I hope this is a joke...? Last week the Dalai Lama visited Buenos Aires and the government of China ordered the government of Argentina to ignore him, and that's what the Argentine government did, China is giving orders lol Cristina is a clown, this is like the Titanic, the iceberg is somewhere but it's so dark that 90% of the people in this country can't see it, we'll see what happens.
Sep 20th, 2011 - 01:49 am 0@ 2 “unless they want ww3 with argentina and china v USA, UK, EU, rest Nato and the commonwealth countries.” aren't you drinking too much? What I see in EU is that they are already a big muslim capital, so don't count on EU, and the UK, mmm muslims, drugs, riots...
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!