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Argentina eyes $100 billion as US will share banking data

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BUENOS AIRES, Argentina (AP) — The U.S. and Argentina have agreed to have their tax agencies automatically share data about their citizens’ finances in each other’s countries. The government in Buenos Aires hopes this will lead to an estimated $100 billion that Argentines have tried to shelter in the United States. Financial data is already shared between the two governments on a case by case basis. Starting early next year, the tax authorities will automatically share information about such investments, whether they’re made as individuals or through companies and trusts, and any transfers between them. Economy Minister Sergio Massa said Monday that Argentines who pay their taxes shouldn’t be cheated by others who evade them.

Article Topic Follows: AP National Business

Associated Press

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