Argentina approves emergency tax on large fortunes



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BUENOS AIRES – Those who opposed the project of Máximo Kirchner, leader of the Alberto Fernández government, which pays tribute to the great fortunes, approved by the Argentine Chamber of Deputies, are convinced that the tax will not be applied because Justice will declare unconstitutional.

“With this tax, the ruling party does tax populism,” emphasized not only the representatives of Juntos pela Mudança, but also some deputies who usually follow the government’s initiatives, but who this time decided to oppose it.

– It is very likely that this tax, if applied, will go to Justice because it is very clear that there will be double taxation with the IPTU, which taxes the same assets, and they are the same taxpayers – emphasized deputy Pablo Tonelli, of the Republican Proposal party ( Pro).

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All the speeches of the opposition augured the same fate for the new tax: it will end up in court. In addition, they warned that it will scare investors because it threatens private capital.

– The government is shooting itself in the foot – insisted Luciano Laspina, from the Pro. – The tax is confiscatory when the State absorbs a substantial part of the income or assets.

According to him, in addition, the contribution reaches 7.5% in the case of the maximum rate of assets abroad, which “will trigger an avalanche of lawsuits.”

Without distinctions

Both Tonelli and Ricardo Buryaile, from the UCR (União Cívica Radical), commented that this new tax, which will tax assets over 200 million dollars, does not distinguish between luxury goods and productive goods.

– Does not differentiate an apartment in Puerto Madero from a field, a yacht from a combined. This project mortally damages private capital amid a fierce pandemic – Buryaile said.

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Graciela Camano, from the Federal Consensus, also harshly criticized Máximo Kirchner’s project.

– This so-called “solidarity contribution” presents legal and technical problems that raise doubts about its constitutionality – he warned. – First, it is a tax that has points in common with another tax, that of movable property. Insofar as they have the same tax base and the same subjects. The principle of non-confiscation, enshrined in the Constitution, is the biggest obstacle this tax will face if it is challenged in court. And it will discourage private investment. It is an initiative that tends to bring some sectors to their knees, but it does not help to put the country on its feet.

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Graciela Ocaña, from Together for Change, agrees.

– It is a compulsory tax of a coercive nature, which breaks the principle of legality and violates constitutional guarantees – he said, and proposed to the government party to relaunch the property extinction project, which Kirchnerism frustrated in Congress, if the intention is to increase harvesting to deal with the effects of the pandemic.

– There are 623 billion pesos of money from corruption that could be recovered, and that would be three times what is expected to be collected with this tax – said Deputy Alberto Asseff, from the same bench.

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From the Civic Coalition, Rubén Manzi and Marcela Campagnoli also warned that the tax will have Justice as its first destination.

– We have injustice, corruption, poverty, slums and plans in place of work. And will we continue to suffocate who can create jobs? This is unconstitutional and confiscatory – emphasized Campagnoli.

La Nacion is part of GDA – Grupo de Diários America

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