Argentina’s federal tax authorities, through its president Mercedes Marcó del Pont, called for global oversight of cryptocurrencies. The speech took place at the 56th Assembly of the Inter-American Center for Tax Administrations (CIAT).
Founded in 1967, CIAT brings together 42 member states, including 32 American, 5 European, 4 African and 1 Asian. The mission of the international public organization is “to provide an integrated service to the modernization, strengthening and simplification of the tax authorities of its member countries”.
Brazil is also a member of this body, which is headquartered in Panama. And with frequent meetings, countries agree to unify their tax network and work together on various issues to develop the agenda.
It is important to remember that in Brazil, still without regulation of cryptocurrencies, the Federal Tax Office was the first autarchy to establish rules, requiring the declaration of the population on negotiations in this sector.
Argentine IRS Calls for Global Oversight of Cryptocurrencies
With federal revenue coming from several countries looking to integrate information, the 56th General Assembly of the Inter-American Center for Tax Administrations (CIAT), held in Argentina in 2022, sought to spark debate in a new sector.
The event was opened by Mercedes Marcó del Pont, the president of “Argentina’s Revenue”, the Federal Administration of Public Revenues (AFIP). In her speech, she defended the union of the tax authorities of the CIAT member states, mainly to combat evasion.
According to the Argentine government, Mercedes stated “It is necessary to include electronic money, digital currencies and crypto-assets in international information exchange mechanisms to prevent them from becoming instruments that facilitate evasion†
The proposal would change the automatic exchange of financial information between Organization for Economic Co-operation and Development (OECD) member countries.
Brazil can be affected by measure
When José Serra was Michel Temer’s foreign minister, Brazil was part of an effort in this sector, according to information released by the OECD itself.
That is, if the proposal to include cryptocurrencies in the OECD international information exchange mechanisms is approved, after the suggestion in the CIAT meeting, the Brazilian Federal Tax Agency should start reporting information about this sector to the instance.
The president of Argentina’s Federal Tax Service also defended that tax authorities are tackling the challenges of globalization together.
“Tax administrations must meet the challenges of financial globalization in a concerted, combined way, emphasizing and deepening all mechanisms of information exchange.”
In the past two years, “AFIP has collected more than 800 million pesos in evaded taxes,” an amount that was in the accounts of Argentines but has spread around the world.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
