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Argentina imposes tax on the 12,000 richest people to pay the costs of the fight against the coronavirus
The single rate, which Argentines have called the “millionaire tax”, will affect some 12,000 citizens of the country.
Argentina, amid the COVID-19 pandemic, introduced a new tax for the wealthiest citizens. Therefore, the country intends to cover part of the cost of protective equipment and medicines, as well as to support people, in particular, entrepreneurs. AFP and the BBC reported this on Saturday 5 December.
The new tax will be required to pay citizens whose fortune exceeds 200 million pesos ($ 2.5 million). In Argentina, these assets are owned by about 12,000 people, or 0.8% of all taxpayers.
So under the new rules, for millionaires, the tax will increase to 3.5% on assets stored in Argentina and 5.25% on assets outside the country. So the government hopes to raise 300 billion pesos (about $ 3.7 billion).
Of the money raised, 20% will go to pay for medicines and medical equipment, 20% – to help small and medium-sized businesses, another 20% – to scholarships for students. In addition, another 15% will go to social development and the remaining 25% to the operation of gas companies.
At the same time, the Argentine opposition does not approve of this development of events. Its representatives fear that the new tax will not be lifted when the pandemic ends and this, in turn, will scare off foreign investors.
Argentina has the second highest number of COVID-19 cases in Latin America. In total, more than 1.45 million infections were detected. More than 39 thousand people died. The country has been in recession since 2018. Restrictive measures in the context of the pandemic increased unemployment, significantly weakened the economy and fueled the growth of the national debt.
Earlier it was learned that in 2021 there will be fewer large taxpayers in Ukraine. The new registry did not include 535 companies and societies that are currently served in the offices of large taxpayers of the State Tax Service.
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