US, Argentina agree to exchange country-by-country reports on multinationals | Hacker News Reader

US, Argentina agree to exchange country-by-country reports on multinationals

mnetax.com

103 pointsclcuc44 comments

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As others have pointed out, it looks like the server is under load. Here are some related links:

[0]: https://www.irs.gov/businesses/country-by-country-reporting-...

[1]: https://argentinaeconomica.net/2021/01/29/us-argentina-agree...

[2]: https://www.baenegocios.com/economia/AFIP-firma-convenio-cla...

[3]: https://www.ambito.com/afip/pone-el-foco-multinacionales-est...

This data should be shared by all countries on an open basis.

Yeah, beauty pageant are going to start asking for this instead of world peace. Dream.

There's at least an obvious solution to this problem even if it's unlikely to happen. A far more practical dream worth bringing up every time.

Aren't you concerned about privacy implications? I am glad some people don't have this totalitarian thinking and will never have: https://www.youtube.com/watch?v=ltb3lJCd1mA I highly recommend all videos by Nomad Capitalist.

Can you please not mention Nomad Capitalist?

The person running that business is a known scam artist.

Here is a discussion about his schemes: https://www.sitejabber.com/faq/nomadcapitalist.com/has-anyon...

Here is a Reddit page about him: https://www.reddit.com/r/digitalnomad/comments/6wl962/is_and...

Here is someone who created a whole website stating his scheme: https://nomadcapitalistscam.com/

Reviews page with revealing information: https://www.sitejabber.com/reviews/nomadcapitalist.com

Thank you for understanding.

I upvoted you, but his videos are mostly factually valid. I have not tried to do business with him. I am arguing about facts he presents and lifestyle he describes, not his personality or business scrupulousness.

Sorry that you got downvoted. But, I did not downvote you.

But why? Transfer pricing regulations are just countries fighting each other over where taxable value was created. Making them more complicated only harms SMEs who already pay a far greater portion of corporate tax revenue than they should. It just a very ineffective attempt to fight the capital flight caused by double taxation. Perhaps if profits were only taxed once there wouldn't be a capital flight problem to begin with. Maybe companies would even start paying dividends again...

As in the "think of the kids" or "fighting terrorism" umbrellas, the "fight money laundry" monicker is bought and supported by Joe Naive then they are surprised when their account gets locked because they split a dinner with their friend or why the bank treats them as a criminal if they want to deal with cash.

I once went to a club called cuba nova in Germany. I didn’t have cash for the entrance fee so I borrowed it from a friend of mine and she sent it to herself from my phone via PayPal. End of the story was that she put “cuba” in the message and our accounts got blocked. It took a staggering amount of information and arguing that we are not dealing with Cuba the country to get our accounts working again.

Bitcoin solves this

If the fee to transfer Bitcoin is $20...

> If the fee to transfer Bitcoin is $20...

Did a tx for $2.13 mining fee and it was confirmed in the next block, 14 mins, so will you just stop with this nonsense?

The transaction fees change over time depending on demand. Maybe you should stop with the unlikely edge case: network is underutilized.

Use Lightning network. It’s virtually zero fee and lightning fast.

Still have to spend the $20+ to put cash on the lightning network, right?

Oh no...that's like...the cost of an ugly pleather wallet!

It means Bitcoin can't work for micropayments.

Self driving cars can't work because the roadway infrastructure improvements would cost too much, who'd pay for it?

Wait! Here comes Apple, with $90B!

You've missed an important aspect of Bitcoin. The community is polarized and won't agree to an upgrade.

Server seems like it didn't appreciate the HN hug; here's the web archive:

https://web.archive.org/web/20210131202023/https://mnetax.co...

This is the whole article:

> 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.

link broken (under load now). Here is another article about the same issue, but with more details, but in Spanish: https://www.ambito.com/afip/pone-el-foco-multinacionales-est...

After 6 hours I cant find more reputable sources for this

It’s worth saying Boise Aries is a top 5 city in the Americas by population, and has a long history of being very immigrant friendly.

I wonder if there was some tax evasion happening...

*Buenos Aires

No Idaho involved ;)

> Boise Aries is a top 5 city in the Americas

Not to be confused with the far less populous and less famously immigrant-friendly Boise.

On a more serious note, I'm curious what connection you see between immigration and tax evasion. Is Buenos Aires known for certain kinds of immigration?

I'm guessing you haven't actually been to Boise?

It has a huge immigrant population. Lots of Latinos, but also folks from all over Asia and Europe to work at Micron. It also has an ever-growing number of Californian expats.

Yes, I wasn't presuming otherwise, which is why I specified "less famously immigrant-friendly" instead of "less immigrant-friendly." I simply haven't heard as much about the immigration there even though I'm American, probably because Buenos Aires is a much larger city.

EDIT: Also, in case my "on a more serious note" didn't make it explicitly clear, that entire sentence about Boise was a joke.

EDIT 2: I might as well add that I looked this up [1], and Boise ranks 175th in immigration as a percentage of the metropolitan population or 101st as a percentage of cities, just among metropolitan areas (MSAs) or cities in the US. That's not exactly a "huge immigrant population" by my account.

[1] https://www.migrationpolicy.org/programs/data-hub/charts/us-...

I understood you were joking. And, as with any forum of smart, nerdy people, there is an inevitable percentage who will point out how some part of your joke does not fit with observable facts.

I've spent a fair bit of time in Boise, as I have family there. The truth is more complicated than a word. The "city" is friendly in terms of favorable policies; the people who live there aren't uniformly friendly to immigrants. In the late 90s, my cousin was upset that his high school banned (iirc) jackboots and cuffed jeans, until he learned that the style he'd unwittingly adopted was equivalent to skinhead gang colors; the ban was a result of actual skinheads popularizing the style. Then, last June, the literal nazis marching downtown. Granted, it's much worse in Coeur D'Alene.

What happened in Coeur D'Alene?

Former home of an Aryan Nations compound.

Boise ranks #4 on "Percentage of population that's white"

https://en.wikipedia.org/wiki/List_of_United_States_cities_b...

I'm a non-white non-immigrant in the US. They're not mutually exclusive. That's why I edited my sibling comment to include a source listing that Boise is also very low on the percentage of immigrants in the population, both in the city and metro area (MSA).

https://www.migrationpolicy.org/programs/data-hub/charts/us-...

Well, yes, but it's doubtful that "immigrant friendly" results in that kind of demographics (89% white). I understand it's a correlation, but...

Does immigration to South America is still a thing at all? For people besides Latinos.

South American countries seem to have had so many false starts. The moment they have a few decades good run, and it seem the country is finally starting to take off they either have a revolution, putsch, junta, or a communist government.

I don't think you should get downvoted, it's a good question. I live in Buenos Aires, and there is definitely a general perception that the country is hopeless. But for some reason we do get a fair share of immigrants from more prosperous countries such as South Korea and China. There's also a lot of people coming in from Africa, mainly Senegal from what I've heard.

China still has huge wealth disparity. So, while China might seem overall more prosperous than Argentina, Chinese emigrants are often from parts of the country with a standard of living below Argentina's.

Yeah. Even with massive infrastructure investment you still hear stories like children climbing 800m on vines to go to school.

https://amp.cnn.com/cnn/2016/05/27/europe/china-children-edu...

And there are other reasons to move too, like air quality, a pressure cooker educational system, extremely high housing cost as a multiple of salary...

Sure, but there's plenty of starving people in Argentina as well, not all the country is as wealthy as Buenos Aires. So the question is, why do they come here instead of going to a bigger chinese city? My guess is that they already have a support network here. That's why many of them end up working in the same businesses, such as running small supermarkets.

What do you think on Buenos Aires vs Sao Paulo?

I've never been to Sao Paulo, but it has a reputation for being very violent and controlled by gangs. Buenos Aires is actually pretty safe (at least the city itself, the suburbs are worse, but still nowhere near the number of murders that Sao Paulo had at its worst).

Uruguay and Chile have been surprisingly solid for a few decades (not withstanding Chile's recent riots, which are resulting a new constitution). Argentina can usefully be thought of as a country with first world commerce and third world government. Southern Argentina though is more reliable.

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