The tax authorities of Argentina and Brazil have announced a new joint initiative that will see the South American countries sharing information on tax, and conducting joint prosecutions to fight evasion and fraud.
Under the agreement, the Argentinean tax authorities will provide for the exchange of information relating to taxes on income, customs, duties and value added tax.
The Brazilian authorities will exchange information on taxes relating to property, imports and exports, among other items.
The agreement represents the latest attempt by the authorities in Argentina to crack down on tax evasion and shore up the country's revenue stream.
Late last year, the Argentinean government announced measures to increase scrutiny of complex banking transactions and the activities of civil associations which, the head of the Argentine tax department noted at the time of the announcement, are structured in such a way as to "eat into income taxes".
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