The AFIP has already sent notifications of these problems to 3,997 Argentine citizens, that will have the opportunity to correct their statements to include their omitted crypto holdings
Argentine Tax Authority AFIP Notified 4,000 Crypto Holders to Amend Their Tax Statements
The Argentine Tax Authority is ramping up its fight against cryptocurrency-related tax evasion. On Oct. 28, the organization informed it had sent notifications to 3,997 taxpayers about incongruencies between their tax statements and reports on their cryptocurrency holdings. These statements being reviewed correspond to reports of operations happening in 2020.
These notifications would be linked to statements that were filed during 2020 and would be sent to taxpayers that have operated using local cryptocurrency exchanges, that must pass their operational information to the AFIP by law. The notifications explain that the taxpayer has been operating with cryptocurrency in these exchanges. It continues declaring:
You are reminded that the results derived from the disposal of digital currencies are covered by the Income Tax and, if applicable, you must proceed to externalize them in the relevant affidavits as well as their possession.However, asking for information and justification of the expenses and cryptocurrency purchases for taxpayers in 2020 might lead them to show the history of their cryptocurrency holdings since its purchase until that year.
These actions can lead to a possible seizure of bitcoin, which is still a controversial issue according to analysts. Daniel Perez, an Argentine attorney, believes that there are still no laws that allow the state to take control of these cryptocurrency wallets. In contrast, digital accounts can be seized, with the organization having
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