AFIP supports the creation of the global registry of crypto holders

The Federal Administration of Public Revenues (AFIP) of Argentina supports the creation of a global system for the registration of crypto holders that makes it easier for tax agencies to control tax evasion

The head of the Federal Administration of Public Revenues (AFIP) of Argentina, Mercedes Marcó del Pont, stressed that they are supporting the creation of a global centralized system that supports a registry of crypto holders, which would allow all tax agencies to avoid tax evasion. by the owners of virtual currencies.

The national tax collection agency of Argentina or AFIP, as it is known, plans to optimize its tax collection process with virtual currencies. One of its strategies is “the creation of a registry of cryptocurrency holders, by carrying out changes to include digital assets in the current automatic data exchange system operated by the Organization for Economic Co-operation and Development (OECD)”.

Marcó del Pont also stressed that the institution is compiling the financial information necessary to collect taxes from all Argentine citizens who have accounts abroad.

Strengthening the controls

The Argentine State is deepening the strategies and techniques that allow it to recover its capacities in matters of auditing to control and prevent tax evasion and increase the contribution of those sectors and people with higher incomes.

In this context, the agency managed to admit “digital wallets” as assets with the possibility of being “seized to pay the tax debt.” This measure made it possible to solve 5,000 cases, where taxpayers had other assets that the agency could seize.

The head of the agency indicated that these actions were possible because the institution receives reports from all “fintech companies on the holdings of their clients’ activities.” Additionally, she explained that the regulatory entity was able to exchange information with other countries that allowed them to access the funds of those “taxpayers who did not have bank accounts or assets in the country.”

Marcó del Pont considers it essential to share information on “electronic money, digital currencies and crypto assets in international mechanisms to prevent them from becoming instruments that facilitate evasion.”

M. Rodríguez


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