Federal Capital (Paco Agency Urondo published by BAE Journal 12/10/2010)
In Argentina the economic and social development has been reinstated from 2003. Is an important point, as orthodox economists for some of the unorthodox yet show reluctance to acknowledge it. Economic development Nestor Kirchner established and that this deepening of President Cristina Fernandez has a high degree of social inclusion, redistribution of wealth, strong growth in all those indicators for determining the degree of economic and social development of a country.
Both the rate of activity, as the number of registered workers, minimum wage, vital and mobile, the rate of industrial employment in construction, trade and the rate of total employment level, the level literacy, levels of life expectancy and the ability to develop new technologies have had strong growth during this period. But in addition, has had a sharp decline in unemployment and underemployment, the rate of infant mortality and inequality rates, among other indicators.
In this way, we can say that this model of development is, without a doubt the most important in the last 60 years. However, we consider some situations that prevent further deepen the model. It should be noted that certain aspects of tax on economic inequality continue to exhibit traits. Same case is presented in the financial field with access to credit. These key areas of contention have had a strong change in its mode of operation and responsiveness, in recent years. Have developed breakthroughs in terms of controls in research, and above all, to break with the backbones of neoliberalism accompanying the process with fiscal and monetary policies very important.
Discussion on the Argentine tax system is extensive and important, as it affects economic sectors powerful and Argentina's population as a whole. But it is necessary to investigate the question: why strong and consolidated economic groups attached a mecanismos poco claros que permiten suavizar su contribución fiscal?
Debemos considerar que, gracias a los cambios tecnológicos en materia de controles e investigación, la Administración Federal de Ingresos Públicos (AFIP) durante el presente año ha podido determinar graves casos de evasión fiscal que desfinancian al fisco, defraudan al erario público y cuyo sustento legal deriva de la Ley Penal Tributaria que concibe infinitos grises dentro del concepto de elusión fiscal. Los casos más relevantes han sido los de Bunge, Cargill y en estos últimos días el de Molinos Río de la Plata. Grandes multinacionales que utilizaron un mismo mecanismo base: la triangulación.
What is triangular? Is to sell, or state that is sold, from Argentina to a country with minimal or no tax burden so as to contribute little or nothing about the operation, and then from that country to sell to countries with higher contributions. That is, the triangulation is a mechanism by which companies use an intermediary to pay less tax.
Here is a case. Uruguay has within its territory, which are called zones. Areas of low or no taxation that fail to be considered tax havens or areas off-shore, but that is quite similar. During by 2009, according to information provided by Customs, exports made Argentina to Uruguay was U.S. $ 2,015 million. Even here one might consider that there is no kind of inconvenience. But analyzing data AFIP receives, based on the sworn statements (affidavits) of VAT on Argentine companies in transactions with the sister country, that figure is U.S. $ 8,842 million. Therefore, there is a difference of 338.81%.
Given this we can ask of the statements made by check, "which ended up the difference of exported goods worth U.S. $ 6,827 million? And from here you should analyze the problem. If these goods left the country to Uruguay, according to affidavits filed for the VAT, which ended up as Uruguay was only 22.8% of the merchandise. The evidence before the ratio indicates that the balance of the goods never crossed the pond, but were sent to other destinations. Thus, we are facing a tax evasion case of very significant levels.
Compare that with a relevant figure in national socio-economic. For example, the program of universal child allowance, the most important social measure of the past 60 years, providing coverage to more than 3.5 million children throughout the country and led the integration or reintegration of more than 25% of children in educational establishments, has an investment of approximately U.S. $ 2,500 million. Therefore, it escaped in the trade with Uruguay would generate more than 2.5 universal assignment programs. With this we see that this fact is relevant and is of significant severity to Argentina's deepening economic model.
Other countries do the same differences between customs and affidavits in Switzerland, Barbados, Cayman Islands, Singapore, and the list goes on. Given this, how can we explain this? Many companies based multinationals operating in the country have set up subsidiaries in different countries, and among these, in some low taxation. On this basis, business operations they undertake, made through subsidiaries.
direct Triangulation refers to the following scheme. A company based in Argentina, operates with its subsidiary in Uruguay and the shipment of goods is made from the national office, in part by the company headquarters and another by the turnover of the subsidiary to the real import. Through this, the company based in Argentina only contributes as the percentage corresponding exports per se, while it exported by its subsidiary entered into fraudulent transactions within the state underfunded national parameters previously described.
Triangulations with invoicing respond to another model: sell at prices lower than market prices from subsidiaries to other destinations, to generate financial losses and then absorb them into its headquarters in Argentina and pay less tax profits.
Both mechanisms bring the same tax consequences of underfunding and emptying of the state by some companies, and borne in a first step in circumventing. Because these procedures, Bunge and Cargill cases are in the hands of the Economic Criminal Justice and the case of Mills is under investigation.
Turning to the financial level, there are also drawbacks. According to research conducted by CEFID-Ar (Centre for Economics and Finance for the Development of Argentina) capital flight, which goes against the Republic of Argentina, for decades had a major impact point in the three years 2007/2009 to output level of capital in terms of U.S. $ 30,000 million (largely due to lock-out "of some agricultural sectors, the re-nationalization of the pension system and the global financial crisis). Of that $ 30,000 million, only U.S. $ 1,119 million were sold from the Central Bank, headed by Martin Redrado. Therefore, over 29,000 million dollars were escapees from the private sector via trade (two conglomerates, such as the cereals sector and oil, are under heavy investigation process those transactions.)
capital flight during this 2010 has presented a significant decrease, which is coincident with the arrival of Mercedes Marco del Pont, and the measures taken. Control levels and are now crossing accurate information and indispensable. And on the evidence of this kind of proven fraud, the levels of control are no longer individual institution, and are now agency with an important participation of the Central Bank, AFIP, UIF, Anses among others.
From the above, reflected the urgent need for a strong modification of the tax system so that these frames of tax avoidance are reconsidered from the legal viewpoint, where the tax system becomes a more fair and equitable, and where the financial system will not repeat the historical practices and begin to rethink the system of credits as a right and not a privilege. And where the contribution of entrepreneurs to correspond with the levels of activity that occurred in the context that is created from the political decisions and distributed to the agents who generate the wealth of the nation, who are undoubtedly working people maintaining control mechanisms existing Inter-institutional. Well, no doubt, "the boys are good, but better controlled."
The author is a member of the Study Group of National Economy and Popular (GEENaP) www.geenap.com.ar (Paco Agency Urondo)
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