Argentine exporters have been discovered inflating their expenses in their beef shipments to China leading to tax deductions of around AR$ 13 million (around US$ 34,200 at the unofficial exchange rate), the AFIP tax bureau reported.
The Argentine Customs Bureau (DGA) has set new criteria for the selection of potential cases of under-invoicing. The new controls will be carried out once the goods have been released to leave the country, it was announced.
Argentina's Internal Revenue Service, AFIP, announced it had received information on 35.000 overseas bank accounts held by Argentines, which should make it easier to control payment deadlines of the respective sworn statements on taxes, profits and assets.
Argentina's head of the tax office, Ricardo Echegaray admitted 'business links' between president Cristina Fernandez and businessman Lazaro Baez, who has been accused of money laundering and falsifying documents.
Argentina’s whitewashing bill or more modestly ‘tax amnesty’ has joined the political debate of the coming October mid-term elections. The tax revenue bureau or AFIP confirmed taxpayers’ “legitimate externalization right” “will not be affected” even in the “hypothetical case that the opposition manages to rally a majority parliamentary stance” after October’s legislative elections.
The US dollar in the ‘blue’ or parallel market kept climbing in Argentina ending a week of consecutive records reaching on Friday 9.30 and 9.34 Pesos (buying and selling price) 14 cents more than on Thursday. Since the beginning of the year the US dollar has climbed 36.97% while the official rate stands at 5.18 Pesos, with an increase of only 5.3%.
Argentina’s federal tax revenue office, AFIP said that trips to the Malvinas Islands, as well as expenses are included in the new 20% levy imposed on credit and debit card purchases in foreign countries, despite the fact the Falklands are considered Argentine territory, because of geopolitical reasons.
The economic-trade relations with Argentina are going through ‘their worst moment in a long time’, and the latest measures announced by the government of President Cristina Fernandez have a ‘very harmful effect’ on Uruguay, said Vice-president Danilo Astori on Friday.
Despite persistent claims before the world, and his Holiness, that the Malvinas Islands are Argentine, for the tax office in Buenos Aires in practical terms they really are a foreign country, according to the latest resolution which applies an additional fee of 20% to tickets and overseas expenditure with Argentine debit or credit cards.
A court in the Argentine province of Cordoba ordered the Banco Nación to sell US dollars to a teacher, after she was authorized by AFIP tax agency to purchase Brazilian Reais, but could not do so due to lack of currency.