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Argentina Terminates DTA With Chile

by Mike Godfrey, Tax-News.com, Washington

10 July 2012


Chilean Ambassador Alfredo Moreno has denounced Argentina's decision to terminate the 1976 double tax convention between Chile and Argentina.

The pact, ratified by both nations in 1986, provides tax concessions for businesses and individuals undertaking economic activity between the two countries. However, Argentina had said the agreement has been misused, giving rise to tax avoidance activities.

Moreno described the decision as a step back in relations between the two countries, and said Chile would endeavour to finalize negotiations towards a revision of the agreement prior to the end of the year.

The pact will cease to be effective on December 31, 2012, following an official notification requesting the agreement's termination submitted to Chilean authorities on June 30, 2012. Argentina has already cancelled similar pacts with Switzerland and Austria.

TAGS: compliance | tax | double tax agreement (DTA) | tax compliance | Chile | tax avoidance | law | agreements | Austria | Switzerland | Argentina

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