Enhanced Monitoring Report on the Implementation of the Standard on Transparency and Exchange of Information on Request 2025

Argentina

Argentina joined the Global Forum in 2009. Argentina underwent its Second Round of EOIR Peer Review in 2023 (Argentina’s 2023 Report),1 which assessed its legal and regulatory framework in force as at 7 April 2023 and its practical implementation, including in respect of EOI requests received and sent, during the review period from 1 January 2019 to 31 December 2021. Argentina received an overall rating of Compliant and the individual Elements were rated as follows:

 

	A.1	A.2	A.3	B.1	B.2	C.1	C.2	C.3	C.4	C.5	Overall
Determinations	i.p.b.	i.p.	i.p.	i.p.	i.p.	i.p.	i.p.	i.p.	i.p.	n.a.	C
Ratings	LC	C	C	C	C	C	C	C	C	C

Status of implementation of recommendations issued in the peer review report

Argentina received five in-box recommendations in relation to Elements A.1 and A.2.

This monitoring report assesses the actions taken by Argentina to address the recommendations issued in its EOIR Peer Review Report and the peer input received for the monitoring period 2023-2024.

The report concludes that three recommendations are “in the process of being addressed” and the other two recommendations “have not been addressed”, and it advises on actions required.

Element A.1: Availability of ownership and identity information

1. Availability of accurate and up-to-date beneficial ownership information

 

Recommendation (A.1, framework)	Argentina is recommended to ensure that accurate and up-to-date beneficial ownership information is available in line with the standard for all relevant entities and arrangements.
Underlying factor	The combination of tax, anti-money laundering and commercial law obligations on the availability of beneficial ownership information does not ensure that accurate and up-to-date information is available in all cases. For the tax and commercial law obligations, there is an annual reporting with no intra-annual update in case changes occur, and there is no mechanism in place to ensure that relevant entities and arrangements have all the necessary information to identify their beneficial owner(s) and/or any changes thereof. They are not required to engage an AML-obliged party on a continuous basis, so that not all of them are covered by Customer Due Diligence requirements under the AML Law. (see paragraphs 96 and 134 to 140 of the Argentina’s 2023 Report for more information).
Summary of actions reported	In 2024, Argentina introduced a centralised public register of beneficial ownership information managed by the Tax Administration, who will centralise the information received annually since 2020. The legal framework provides for mechanisms for exchanging information between different public authorities, which enhances the ability to cross-check information and detect inconsistencies. Pursuant to the recent legal amendments, the Tax Administration is in charge of ensuring that beneficial ownership information is accurate and up to date, and it has the power to define and implement mechanisms to fulfil this obligation. The Tax Administration issued Resolution No. 5529/2024 to implement the register. The legal framework provides for mechanisms focused in ensuring that information reported is accurate and up to date. It provides that (i) legal entities and arrangements have access to the centralised register of beneficial owners in order to verify information related to their own beneficial owners; (ii) individuals have access to the beneficial ownership register to consult which entities or arrangements have reported them as beneficial owners; and (iii) the Tax Administration may update and/or correct the information in the Register if it detects inconsistencies as a result of its control and verification actions, which includes cross-checking the information in the Register with that provided by third parties.
Conclusion	Argentina has made progress to address the recommendation. It has introduced a centralised register of beneficial ownership information under the responsibility of the Tax Administration, who is responsible for ensuring that information is accurate and up to date and has introduced mechanisms focused in ensuring that information reported is accurate and up to date. However, the reported changes do not sufficiently address the shortcomings identified in the 2023 Report. Although the system provides different layers of verification of the accuracy of the data, the information to be reported refers to the situation as of 31 December of the reporting year (the previous calendar year) and there is still no requirement on legal entities and arrangements to report to the Tax Administration changes in their beneficial ownership information whenever these occur, nor are they required to keep a register of such changes. This could result in situations where the available information is not up to date. Argentina should report further progress in the next self-assessment.
Status determined	In the process of being addressed
Actions required	In the next self-assessment, Argentina should – Report further progress on the implementation of the recommendation, particularly regarding the actions taken to ensure that legal entities and arrangements report to the Tax Administration changes in their beneficial ownership information whenever these occur and/or keep a register of such changes.

2. Ensuring effective, proportionate and dissuasive sanctions

 

Recommendation (A.1, framework)	Argentina is recommended to ensure that sanctions for non-compliance with the information keeping and reporting obligations for tax purposes are effective, proportionate and dissuasive.
Underlying factor	While the tax law is one of the main sources of information on beneficial ownership, sanctions in the National Tax Procedures Law for non-compliance with the tax requirements, including to maintain and report beneficial ownership information, may not always be dissuasive and proportionate. Their effectiveness may be strengthened, considering that the amount of the fines has not been revaluated despite the significant rate of inflation over the years. (see paragraphs 82, 127, 129 and 177 of the Argentina’s 2023 Report for more information).
Summary of actions reported	No legal amendments have been made to the sanctions applicable for non-compliance with the information-keeping and reporting obligations for tax purposes. Argentina has started an analysis of possible actions to address the recommendation.
Conclusion	Argentina has taken preliminary steps to address the recommendation, but no material progress has been reported. It is urged to make substantive progress before the next self-assessment.
Status determined	Has not been addressed
Actions required	In the next self-assessment, Argentina should – Report substantive progress, including the results of the preliminary analysis that has been carried out. Report on the results of implementation of any legal changes introduced before the next self-assessment to address the legal issue to the extent that they have come into force by then. This should include information on the number and amount of sanctions applied, the proportion of penalties that have been collected, the actions taken in cases of unpaid penalties, and compliance behavioural changes following the sanctions (i.e. whether compliance has been achieved).

3. Supervision and treatment of inactive companies

 

Recommendation (A.1, practice)	Argentina should improve the supervision carried out by the Public Registries of Commerce, and in particular the monitoring of inactive entities, and review its systems whereby a significant number of non-complying inactive companies remain with legal personality on the Public Registries, to ensure that adequate, accurate and up-to-date legal and beneficial ownership information is available for all relevant entities and arrangements.
Underlying factor	There are uncertainties as to the nature and depth of the supervision conducted by the Public Registries of Commerce, especially those other than the one of the Autonomous City of Buenos Aires (the latter accounts for 53% of the total of companies registered in Argentina). Furthermore, the large number of inactive companies maintaining their legal personality raises concern about the effectiveness of the mechanisms in place to monitor these entities and on the availability of legal and beneficial ownership information in all cases. (see paragraphs 73 to 81 of the Argentina’s 2023 Report for more information).
Summary of actions reported	The authorities had found that certain shortcomings of the register of inactive entities had rendered it ineffective, as it did not provide a reliable picture of the real situation of inactivity, nor did it provide relevant information on these entities. As a result, in January 2025 Argentina abolished the register of inactive entities and established a regularisation regime for entities that had not submitted their financial statements or accounting documents to the General Inspection of Justice, allowing them to fulfil their outstanding obligations by 31 December 2025. Argentina also reported on the measures taken by the Tax Administration to monitor non-compliance, including restricting access to the Tax Administration's web services by deactivating the tax identification number, which prevents such taxpayers from doing business in Argentina.
Conclusion	Argentina has made progress to address the recommendation. With the dissolution of the register of inactive companies and the implementation of a new regularisation regime, Argentina has taken an important first step to clean up information on inactive companies and to reconsider appropriate and conducive measures to deal with non-compliant companies and to identify inactive companies to address the risks associated with them for EOIR purposes. It should report further progress in the next self-assessment.
Status determined	In the process of being addressed
Actions required	In the next self-assessment, Argentina should – Report on supervision carried out by the Public Registrars of Commerce. Report on actions taken to identify inactive companies, including the results of the implementation of the regularisation regime provided in General Inspection of Justice’s Resolution No. 4-2025. Report on actions taken to mitigate the risk that inactive companies continue to retain legal personality with no guarantee that their up-to-date legal and beneficial ownership information is available, along with appropriate statistics to reflect these actions.

4. Putting in place a supervision and enforcement programme regarding beneficial ownership information

 

Recommendation (A.1, practice)	Argentina is recommended to put in place a comprehensive and effective supervision and enforcement programme to ensure the availability of adequate, accurate and up-to-date beneficial ownership information for all relevant entities and arrangements.
Underlying factor	There are periodic reporting requirements by the relevant entities and arrangements to the Tax Administration, but the rate of compliance needs to be improved, and substantial controls have not been carried out on the information submitted. There are periodic reporting requirements also to the Provincial Public Registry of Commerce of the Autonomous City of Buenos Aires and to other Provincial Public Registries of Commerce, but the level of implementation, the rate of compliance and the controls carried out on the accuracy and completeness of the information reported are unclear. There is also limited experience of providing beneficial ownership information for exchange of information on request. In order to ensure that beneficial ownership information is reported to the Tax Administration and is accurate and up to date, supervision and enforcement need to be improved. (see paragraphs 128 to 133 and 139 to 140 of the Argentina’s 2023 Report for more information).
Summary of actions reported	Argentina reported the introduction of the centralised public registry of beneficial ownership information (also reported in the context of Recommendation 1) and on the preliminary implementation measures.
Conclusion	Argentina has made progress to address the recommendation. Although a supervision and enforcement programme has not yet been implemented, Argentina has already established the legal framework for the implementation of its centralised beneficial ownership register which will allow the Tax Administration to cross-reference data from other public entities and detect inconsistencies through various channels, including control and verification actions (see Recommendation 1). These actions represent a key step toward establishing a solid foundation for the future implementation of supervision and monitoring programmes related to beneficial ownership information. Argentina should report further progress in the next self-assessment.
Status determined	In the process of being addressed
Actions required	In the next self-assessment, Argentina should – Report further progress on the implementation plan of the centralised register of beneficial owners. Provide a description of the supervision and enforcement programme put in place and its results. This includes the level of implementation, the rate of compliance, the number of controls carried out to verify the accuracy of beneficial ownership information, the scope of such controls (i.e. ratio of entities and legal arrangements covered), the main findings of these controls, number of enforcement actions taken when non-compliance has been detected and any other corrective and /or preventive supervision measures taken.

Element A.2: Availability of accounting information

5. Ensuring effective, proportionate and dissuasive sanctions

 

Recommendation (A.2, framework)	Argentina is recommended to ensure that sanctions for non-compliance with the information-keeping and reporting obligations for tax purposes are effective, proportionate and dissuasive.
Underlying factor	Sanctions in the National Tax Procedures Law for non-compliance with the tax requirements, including to maintain and report accounting records, may not always be dissuasive and proportionate. Their effectiveness may be strengthened, considering that the amount of the fines has not been revaluated despite the significant rate of inflation over the years. (see paragraphs 207 to 213 of the Argentina’s 2023 Report for more information).
Summary of actions reported	Given the high level of compliance with the filing of accounting information and the availability of accounting records to interested parties, Argentina has not started working on a project to modify the legal framework regarding sanctions for non-compliance with accounting record keeping obligations.
Conclusion	While Argentina has concluded that for the time being there is no need to modify the amount of the applicable sanctions, it has not reported information on the analysis conducted and actions taken on the matter. It is urged to make substantive progress before the next self-assessment.
Status determined	Has not been addressed
Actions required	In the next self-assessment, Argentina should – Report substantive progress, including the compliance rate with the filing of accounting information during the monitoring period, a description on the manner on which the effectiveness, proportionality and dissuasiveness of the applicable sanctions has been assessed in relation to the compliance rates and the results of such assessment.

EOIR experience

Over the monitoring period, Argentina received 63 requests and sent 995 requests. The United States, Chile and Norway were the top three treaty partners in respect of incoming requests. The United States, Brazil and Switzerland were the key partners in respect of outgoing requests. Argentina reported providing full and final responses to all the received requests.

Ten members provided peer input. Peers reported being generally satisfied in respect of their EOIR experience with Argentina.

New developments having a bearing on the EOIR standard

No recent developments that could have a bearing on the EOIR standard (other than those reported to address recommendations) have been reported by Argentina or have otherwise come to light.

Next steps

Argentina should continue taking actions towards implementing the standard effectively.

The following next steps are expected from Argentina:

• Submit the next self-assessment report in 2028 under the second round of enhanced monitoring.

Views/Response of the monitored jurisdiction

Argentina would like to express its gratitude for the outstanding work carried out by the Global Forum Secretariat, the PRMG members, and all jurisdictions for their invaluable contribution during the Enhanced Monitoring Process.

Our jurisdiction concurs with the outcomes reflected in the report regarding the actions taken to address the recommendations issued since the last review in 2023, when the legal and regulatory framework and its implementation in practice were assessed, and Argentina received an overall rating of Compliant.

It is worth highlighting that the Argentinian tax administration (Agencia de Recaudación y Control Aduanero) is already working on the recommendations received, including the amendment of the regulatory framework on the Register of Beneficial Ownership, aimed at addressing the recommendation regarding the availability of accurate and up-to-date beneficial ownership information.

We emphasize the importance of the Enhanced Monitoring Process as a continuous improvement opportunity to thoroughly analyze the regulatory framework, identify deficiencies, and maintain our commitment to further progress.

Argentina remains committed to the international standard for the exchange of information upon request and will continue working to address all the recommendations made at this stage, as well as to keep strengthening both the domestic regulatory framework and practices.

We value the continued support of the Global Forum and will continue working collaboratively to further enhance international tax transparency.

Note

← 1.  OECD (2023), Global Forum on Transparency and Exchange of Information for Tax Purposes: Argentina 2023 (Second Round, Combined Review): Peer Review Report on the Exchange of Information on Request, Global Forum on Transparency and Exchange of Information for Tax Purposes, OECD Publishing, Paris, https://doi.org/10.1787/cff0754d-en.