Before a World Trade Organization ("WTO") dispute settlement panel, Panama challenged Argentina's imposition of certain tax measures against services and service suppliers from countries deemed "not cooperating for tax transparency purposes" by the Argentine government under Decree No. 589/2013. While Panama did not challenge the Decree directly, it challenged eight of the retaliatory measures imposed by Argentina against countries designated "non-cooperating" under the Decree. The panel ultimately held that Argentina's measures are inconsistent with its WTO obligations under the General Agreement on Trade in Services ("GATS").
This has been excerpted from a 8 October 2015 news item by Mondaq and is available in its entirety at: http://www.mondaq.com/unitedstates/x/432962/international+trade+investment/WTO+Panel+Rejects+Argentinas+Tax+Transparency+Penalties