Thank you very much. I am pleased to be here for the signing of the agreement to implement the Foreign Account Tax Compliance Act – FATCA as it’s known in English.
This Agreement is important to the United States of America because it will enable the exchange of information regarding financial accounts held by specified U.S. persons (directly or through certain entities) in Argentine financial institutions.
The Agreement is reciprocal, and the United States will also provide certain information regarding financial accounts held by Argentine residents in U.S. financial institutions.
Importantly, to date, the United States has signed over 100 such bilateral agreements with foreign jurisdictions. Sergio, I know your team and our team worked very closely to conclude this agreement and I thank you for that.
Today’s signing marks a significant step forward in our mutual efforts to combat offshore tax evasion effecting both countries and to increase transparency in the global financial system.
Mr. Minister, we look forward to working with the Government of Argentina on implementation of the FATCA agreement and further advancing our broader bilateral agenda.
Thank you very much.