As reported by AFIP, a new Complementary Information System for International Operations (RICOI) will be established for the purpose of effectively assessing and managing international tax compliance risks.
Gabriella Russo, The head of the Professional Council of Economic Sciences explains it “In this way, the national and international financial planning information system will be replaced by General Resolution (AFIP) 5306 which implements a complementary information system for international operations that aims to avoid duplicating data that originates from other systems.”
What should be included in the supplementary regimen?
* International operations with permanent establishments in the country that meet certain requirements.
* Operations that yield double international non-tax results.
* Operations where it is preferable to transfer benefits to other jurisdictions, taking advantage of existing inconsistencies in the tax laws of two or more jurisdictions.
* Agreements, schemes or plans that seek to have the effect of excluding one or more subject matter, funds or assets from the obligation to report or report in the Common Reporting Standard (CRS) or FATCA.
* Restructuring companies that have the impact of being outside the scope of the international information system “Country Report by Country”
* Indirect disposal of assets or rights in the country.
* The privilege of exploiting any activity involving an economic transfer of capital.
* International leasing operations that result in a financial loan.
* Payments by a non-profit entity to a subject abroad.
Tax benefits resulting from:
* Payments or related transactions that are wholly or partly due to the person making them or related parties
* This includes one or more entities and/or legal persons that have no financial personality in the jurisdiction in which they are incorporated, domiciled, or exist, and whose income is directly attributed to shareholders, partners, participants, owners, controllers, or beneficiaries.
* Mechanisms that generate uncertainty regarding the ownership of an asset resulting in the ability for taxpayers from different jurisdictions to calculate a tax deduction for the consumption of the same asset or the ability to claim double taxation in respect of it.
* Deductible cross-border payments made to members of the same multinational group who do not reside for tax purposes in any jurisdiction.
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