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Argentina Withholds VAT Refunds From Tax Debtors

by Leroy Baker, Tax-News.com, New York

06 November 2012


The Argentinian tax authority, AFIP, has stepped up its campaign against exporters with tax discrepancies by withholding value-added tax (VAT) refunds from companies with outstanding taxes.

Under General Resolution 3397, published in the nation's Official Gazette on October 29, 2012, exporters with tax discrepancies are excluded from being able to receive VAT rebates until all outstanding tax dues are paid.

In a separate decision, AFIP launched an amnesty scheme to allow tax debtors to settle tax balances over a period of up to ten years, albeit with considerable interest rates attached.

AFIP has recently redoubled its efforts to clamp down on what it believes is unacceptable tax avoidance among major exporters, especially in the agricultural, sector following its announcement in February that it would pursue payment from 300 tax debtors engaged in cross-border trade.

In mid-October, AFIP also confirmed that it was considering striking off several large multinational commodities firms from its grain registry due to tax irregularities. Removal from this registry means the loss of significant tax benefits for these companies.

TAGS: compliance | tax | tax compliance | tax avoidance | law | enforcement | tax authority | Argentina

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