At least 2,500 Argentines were intimidated for not having declared the bank accounts they have outside the country. In a new offensive by the Federal Administration of Public Revenues (AFIP), the collecting entity notified those taxpayers who have assets outside of Argentina and did not report their holdings in the personal property or income tax returns.

The persons intimidated, as explained by the agency, show inconsistencies between the sworn tax returns on Personal Assets and Earnings filed with the agency in 2018.

“The objective is to avoid tax evasion maneuvers,” they assured through a statement. In this, they detailed that the inspection and control tasks are a decision of the agency “to reinforce tax revenues from segments of the population with greater purchasing power.”

The identification of bank accounts was possible by exploiting information from more than 100 countries, with which Argentina maintains an Automatic Exchange of Financial Account Information (CRS, for its acronym in English), which is carried out once a year. Among them, accounts of Argentines in Uruguay, Switzerland and Luxembourg stood out.