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.
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