US, Argentina agree to exchange country-by-country reports on multinationals

US, Argentina agree to exchange country-by-country reports on multinationals(mnetax.com)

103 points by clcuc 5 years ago | 44 comments

clcuc 5 years ago |

As others have pointed out, it looks like the server is under load. Here are some related links:

[0]: https://www.irs.gov/businesses/country-by-country-reporting-...

[1]: https://argentinaeconomica.net/2021/01/29/us-argentina-agree...

[2]: https://www.baenegocios.com/economia/AFIP-firma-convenio-cla...

[3]: https://www.ambito.com/afip/pone-el-foco-multinacionales-est...

stuaxo 5 years ago |

This data should be shared by all countries on an open basis.

sirmoveon 5 years ago | |

Yeah, beauty pageant are going to start asking for this instead of world peace. Dream.

boomboomsubban 5 years ago | | |

There's at least an obvious solution to this problem even if it's unlikely to happen. A far more practical dream worth bringing up every time.

raverbashing 5 years ago | |

As in the "think of the kids" or "fighting terrorism" umbrellas, the "fight money laundry" monicker is bought and supported by Joe Naive then they are surprised when their account gets locked because they split a dinner with their friend or why the bank treats them as a criminal if they want to deal with cash.

WanderPanda 5 years ago | | |

I once went to a club called cuba nova in Germany. I didn’t have cash for the entrance fee so I borrowed it from a friend of mine and she sent it to herself from my phone via PayPal. End of the story was that she put “cuba” in the message and our accounts got blocked. It took a staggering amount of information and arguing that we are not dealing with Cuba the country to get our accounts working again.

Bitcoin solves this

AmericanChopper 5 years ago | |

But why? Transfer pricing regulations are just countries fighting each other over where taxable value was created. Making them more complicated only harms SMEs who already pay a far greater portion of corporate tax revenue than they should. It just a very ineffective attempt to fight the capital flight caused by double taxation. Perhaps if profits were only taxed once there wouldn't be a capital flight problem to begin with. Maybe companies would even start paying dividends again...

cft 5 years ago | |

Aren't you concerned about privacy implications? I am glad some people don't have this totalitarian thinking and will never have: https://www.youtube.com/watch?v=ltb3lJCd1mA I highly recommend all videos by Nomad Capitalist.

disabled 5 years ago | | |

Can you please not mention Nomad Capitalist?

The person running that business is a known scam artist.

Here is a discussion about his schemes: https://www.sitejabber.com/faq/nomadcapitalist.com/has-anyon...

Here is a Reddit page about him: https://www.reddit.com/r/digitalnomad/comments/6wl962/is_and...

Here is someone who created a whole website stating his scheme: https://nomadcapitalistscam.com/

Reviews page with revealing information: https://www.sitejabber.com/reviews/nomadcapitalist.com

Thank you for understanding.

slater 5 years ago |

Server seems like it didn't appreciate the HN hug; here's the web archive:

https://web.archive.org/web/20210131202023/https://mnetax.co...

OnlyOneCannolo 5 years ago | |

This is the whole article:

> The US and Argentina have signed a competent authority agreement to exchange country-by-country reports describing aspects of the tax affairs of large multinational groups, the US IRS announced today.

> The aim of the exchange is to allow country tax authorities better insight into the activities of the multinational and it’s into its tax liabilities and payments. The reports help tax authorities determine if there is a risk that the multinational is avoiding tax through inappropriate transfer pricing or through other means.

> The text of the US-Argentina competent authority agreement is not yet available.

sbassi 5 years ago |

link broken (under load now). Here is another article about the same issue, but with more details, but in Spanish: https://www.ambito.com/afip/pone-el-foco-multinacionales-est...

dontgamestop 5 years ago |

After 6 hours I cant find more reputable sources for this

nip180 5 years ago |

It’s worth saying Boise Aries is a top 5 city in the Americas by population, and has a long history of being very immigrant friendly.

I wonder if there was some tax evasion happening...

vinay427 5 years ago | |

> Boise Aries is a top 5 city in the Americas

Not to be confused with the far less populous and less famously immigrant-friendly Boise.

On a more serious note, I'm curious what connection you see between immigration and tax evasion. Is Buenos Aires known for certain kinds of immigration?

nostromo 5 years ago | | |

I'm guessing you haven't actually been to Boise?

It has a huge immigrant population. Lots of Latinos, but also folks from all over Asia and Europe to work at Micron. It also has an ever-growing number of Californian expats.

baybal2 5 years ago | | |

Does immigration to South America is still a thing at all? For people besides Latinos.

South American countries seem to have had so many false starts. The moment they have a few decades good run, and it seem the country is finally starting to take off they either have a revolution, putsch, junta, or a communist government.

ficklepickle 5 years ago | |

*Buenos Aires

No Idaho involved ;)