Argentina Becomes Party To The Multilateral Convention On Mutual Administrative Assistance In The OECD's Tax Matters

The Convention will enter into force on January 1, 2013 in Argentina and includes exchange of information, assistance in recovery and service of documents.

On September 13, 2012 Argentina ratified the Multilateral Convention on Mutual Administrative Assistance in Tax Matters of the Organization for Economic Co-Operation and Development (the "Convention").

According to the Convention, the parties shall provide administrative assistance in tax matters. This administrative assistance shall consist of: a) exchange of information; b) assistance in recovery, including measures of conservancy; and c) service of documents.

Argentina made reservations to the Convention: Argentina shall not provide assistance in recovery of taxes and fines and shall not provide assistance in the service of documents.

A party of the Convention shall provide administrative assistance, in this case exchange of information, whether the person affected is a resident or national of a party or of any other state. The parties shall exchange any information that is foreseeably relevant for the administration or enforcement of their domestic laws concerning the taxes covered by this Convention. The information may be exchanged upon request of a party, or automatically or spontaneously.

The taxes to which the Convention would apply for Argentina are Income Tax, Social Security, Personal Asset Tax, Value Added Tax, Tax on Liquid Fuel, Excise Tax, Tax on Minimum Presumed Income, Property Transfer Tax, Tax on Debits and Credits in Bank Accounts, and Tax for Small Taxpayers ("Monotributo").

The competent authority will be the Federal Administration...