According to a local media report, the Argentine government is preparing to intensify its fight against tax evasion by increasing scrutiny of complex banking transactions and the activities of civil associations.
In an interview with the El Cronista newspaper, Alberto Abad, the head of Argentina’s tax department, AFIP, revealed that efforts will be concentrated on banks and financial operations as “there’s a confluence of sophisticated operations...that try to eat into income taxes.”
In addition, Abad told the paper that around 30 civil organisations and foundations were coming under greater scrutiny in a bid to root out those using such bodies as means to avoid tax.
Abad noted that these types of groups have “proliferated in an abnormal way.”
Reports suggest that revenues lost to tax evasion are estimated to be worth half of Argentina's annual budget.
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