Argentina, Andorra sign agreement to fight tax evasion

The Argentine government on Monday signed an agreement with Andorra on the exchange of fiscal information to fight tax evasion, the Federal Administration of Public Incomes (AFIP) said.

The agreement is aimed at impeding triangulation maneuvers through Andorra, a so-called fiscal paradise, to avoid taxes.

The AFIP said the agreement "commits both countries to giving mutual assistance to ease the exchange of relevant information for the administration and application of national laws."

The agreement foresees the exchange of information upon request, which can only be about information held by banks, financial institutions or any other person performing as an agency or fiduciary as well as information related to the ownership of companies or societies, the AFIP added.

Argentina is the first Latin American country to sign such an agreement with Andorra. It has also signed a similar one with Monaco.

Source:Xinhua