Financial Services. WTO Appellate Body Report

The dispute "Argentina – Financial Services" deals with a number of restrictive measures relating to the provision of financial services, which were imposed by Argentina with respect to the trade partners not cooperating for "tax transparency purposes". The dispute was initiated by Panama that had been subject to such measures for a certain period of time. The Panel examining the dispute found that the actions of Argentina were inconsistent with its obligations under the General Agreement on Trade in Services (the "GATS"). However, the Appellate Body reversed the Panel's findings.

SUMMARY

In order to strengthen the national tax system and protect the investors' rights, Argentina launched the legislative reform aimed to combat the tax evasion, fraud, concealment and money laundering.