Argentine Congress Moves Toward Implementing Wealth Tax to Fund COVID-19 Aid

People with more than US$2.5 million - about 12,000 individuals - would get hit by the 2% flat tax. The levy would increase progressively as equity increases, under the proposal.l

RIO DE JANEIRO, BRAZIL - The lower house of Argentina’s Congress on Wednesday approved a bill seeking to raise 300 billion pesos (US$3.75 billion) through a tax on large fortunes to finance programs aimed at helping families hit by the COVID-19 pandemic.

The Senate was expected to consider the government-backed legislation before the end of the month. The lower house vote was 133 to 115 with two abstentions.

People with more than . . .

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