Argentina Authorizes Revenue Authority to Exchange Information under Treaties

On September 29, 2003, the Argentine Official Gazette reported that the local Revenue Service (AFIP) will participate in information exchange with other tax administrations, in order to better enforce the worldwide income taxation principle under the Ministry of Economy and Production?s Resolution 336/03. Argentina has already concluded agreements with 18 other countries within broader treaties signed to avoid double taxation, and expects to sign treaties specific to information exchange with Chile, Brazil and perhaps Spain. These agreements will be the first to reflect the new September 29 resolution and are generally based on Article 26 of the OECD model income tax treaty. Under Resolution 336/03, the AFIP will be free to implement new procedures that will aid both tax administrations. These efforts are part of larger coordination between international organizations, including the UN, the OECD, and the EU.