Just over a week after the bilateral trade agreement with the United States was officially signed, Customs Collection and Control Agency (ARCA) It has moved forward with another major step: it has concluded a new cooperation agreement with the United States that will modify the way the two countries exchange information, with potential future implications for the tax withholding system.
The agency stated a few days ago: “Today we signed a cooperation agreement with the US Customs and Border Protection (CBP), which is a major step to deepen the modernization, digitization and automation of customs operations between the two countries.”
ARCA signed a customs agreement with the United States: what does it mean
The signing took place in Washington and was attended by the President of ARCA. Juan PazoDirector General of Customs, Andres VelezDeputy Executive Commissioner of the Bureau of Customs and Border Protection, Donald R. Styx.
In the same vein, they highlighted that “This agreement allows us to strengthen bilateral coordination, enhance early detection of threats and combat transnational crimes, and align our work with the international standards of the World Customs Organization.”
In addition Greater flow of informationCollaboration with US Customs will have a direct impact on day-to-day operations: less logistical time, less private sector bureaucracy, and new support for the government’s goal of fully digital Customs.
This understanding comes within the points presented by the executive authority to agricultural exporters, with whom it holds permanent talks. A source familiar with the conversation summarized it as follows:“They will exchange information about the soybean market.” Although he explained that trade itself “is between companies and depends on supply and demand.”
How the new agreement could affect Argentine agriculture
In the agreement released by the White House, the two governments made additional commitments: cooperating to attract investment in critical minerals and coordinating actions to stabilize global soybean trade. This reopened the debate on segregation called for by Scott Besant Tax holiday.
The issue has a recent history. At the end of September, and with the urgent need to obtain dollars that would allow it to intervene in the exchange market, the administration decided to apply “zero deductions” to major crops with a maximum of 100 thousand dollars. 7 billion US dollars. This action lasted less than 72 hours, but was announced in the middle of negotiations on the currency swap. 20 billion dollars With the United States, which dissatisfied North American farmers.
““They don’t want Argentina to implement interest plans that displace U.S. soybeans from China.”A source related to the matter reported. In response to a question whether this could hinder the reduction of pledges in this area, she admitted that there was “some difficulty in achieving this desire.”
In the sector An agricultural source, and there are those who are watching with concern American pressuredespite the advisor Pablo Cerno He insists on disrupting that reading. This was stated in an interview with A24 channel “Argentina maintains its tax sovereignty and decision on its regulatory framework.”when asked about a possible request from the United States to maintain the blockage.
Customs cooperation between the two countries is not a new thing: It’s been around since the 1990s. Washington has a Trade Transparency Unit specialized in tracking suspicious operations and trade laundering maneuvers (TBML), and it conducts permanent analyzes based on agreements with similar units from different countries.
An expert source in Arca’s operations explained that the United States could “Introducing a clause in this exchange so that the Argentine government will have to watch in case measures to reduce deductions are implemented, as happened in September.”
External funding for ARCA
In parallel with these negotiations, and given the economic team’s need for foreign currency, Arca this year obtained several credit lines aimed at modernizing the tax and customs system.
The Inter-American Development Bank approved a loan of… 1.2 billion US dollarsFrom her 800 million US dollars It will be used to support tax reforms aimed at improving fairness and efficiency, including simplifying value-added and income tax processes for individuals.
In addition to this, the World Bank project 300 million US dollarsIt focused on improving the effectiveness and transparency of tax administration through digitization, automation, and increasing clarity in taxpayer information. When Arca was asked what specifically these funds would be used for, they were unable to provide further details.