• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Argentinian Tax Authority

Argentinian Tax Authority to Seize Digital Wallets to Collect Tax Debts

Dan B by Dan B
12 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Argentinian Tax Authority, AFIP, has stated that they will be able to seize any assets owed by taxpayers in digital wallets if the tax debts are not settled. Last year, the organization recommended the law but did not execute it until early 2022 during the Covid-19 pandemic.

Related Reading | Making Money in Bitcoin Markets? Don’t Forget About Crypto Taxes

The organization now has a procedure for confiscating digital assets in these accounts. This addition will allow authorities access not only bank accounts and loans given out by third parties but also houses and cars owned by individuals who may be involved with cryptocurrencies transaction history- even if they made those purchases decades ago! Official sources told local media that:

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The development of electronic means of payment and their widespread use explains the agency’s decision to include digital accounts in the list of assets seized to collect debts.

Financial institutions must give up customer information when it comes under pressure from the law. The Argentinian Tax Authority has announced that they will confiscate 9800 taxpayers’ digital accounts.

Tax Collection Procedure By Crypto

Argentina’s tax authorities are going after digital wallets that handle the national fiat currency, such as Bimo and Ualá. The most important target for these tax agents is Mercado Pago, an e-commerce platform with bitcoin-friendly policies allowing debtors to store their savings away from pesky collectors who want a cut of their earnings.

Bitcoin Price
Bitcoin has been following a downtrend since Thursday | Source: BTC/USD on Tradingview.com

When a person or company owes taxes, it’s not just their digital wallet that the organization will target. First, the organization pursues more liquid alternatives like cash; it moves to other assets such as cryptocurrency investments only after these funds are unavailable.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Related Reading | Thailand Government Disperses Confusion Surrounding Cryptocurrency Taxation

The government of Argentina has a rigorous approach towards cryptocurrency. In a recent interview with local media, SDC Tax Advisors’ Sebastián Domínguez confirmed that they could confiscate even cryptocurrencies if the custody of these assets depends on an entity based in Argentina.

He explained;

The novelty points to the fact that digital wallets are targeted in the procedure due to their growth, but that does not imply that the rest of the assets are not subject to possible embargoes.

How Does AFIP Work?

The AFIP is the federal Argentinian tax authority, and it has sole discretion to audit any return filed by a taxpayer during its own limited period of time.

The AFIP is responsible for overseeing the accuracy of one’s tax returns. Therefore, the individual may be subject to an audit by them at any time, and it could happen in several different ways too.

The government uses different methods to collect taxes. First, they might check your income with a database. If there is enough evidence suggesting you’re hiding something, then all bets are off as far as return visits go. The second method is random sampling. Finally, an inspector will come by just for kicks or does it via computerized screenings. 

The Argentinian Tax Authority has the power to send out information requests to any sector in the country. And expect a response within 15 days of being notified.

                     Featured image from Pixabay, chart from Tradingview.com
Tags: AFIPArgentinian Tax AuthoritycryptocurrencyDigital assetsdigital wallet
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dan B

Dan B

Veteran crypto and finance writer & editor.

Related Posts

Ethereum

Ethereum Burning Reaches New High, Is ETH Warming Up For Another Rally?

2 hours ago
Polygon

Polygon Beefs Up Layer 2 Position, Gets The Edge In NFT Transactions Vs. Ethereum

7 hours ago
Best Play-to-Earn Startups to Watch in 2023 Amid the Crypto Market Recession

Best Play-to-Earn Startups to Watch in 2023 Amid the Crypto Market Recession

7 hours ago
Ethereum Bear

Ethereum Bearish Signal: Profit-Taking Hits Highest Level Since Feb 2021

8 hours ago
Cardano ADA price

Cardano Price Faces Make-or-Break Moment, Can Djed Propel ADA?

10 hours ago
VeChain VET VETUSDT

VeChain Aims To Take Web3 By Storm, Here’s How

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

Fetch.ai (FET) up 200% in 30 days – Orbeon Protocol (ORBN) Skyrockets by 1400% in Presale

February 3, 2023

Dacxi.com rebrands to Wealth99

February 2, 2023

What Is the Latest in Crypto? Terra Classic Community Approves Crucial Proposal to Resume Terra CLasic (LUNC) Burns, Fetch.Ai (FET) Ranks Among the Top AI Altcoins for Investors In 2023, Snowfall DEX Attracts More Investors to Snowfall Protocol (SNW) with A Week to Official Launch

February 2, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.