50% of the collection for the Wealth Tax is contributed by only 253 people

Annabella quiroga

08/25/2021 6:01 AM

• Clarín.com

• Economy

Updated 08/25/2021 7:03 AM

The bulk of the Wealth tax was contributed by 2.7% of the 9,298 taxpayers reached by this tax.

This arises from a report from the Central Bank, which details that half of the

$ 197,000 million

collected so far was contributed by

253 people.

The Wealth Tax was approved by Congress at the request of the Government to

raise funds with which to face the expenses of the pandemic

. When it was approved, it was established that it would be for the only time, but in the middle of the electoral campaign part of the Government came out to promote the idea of ​​including it in the 2022 Budget. Until now, this extension is not foreseen by the Minister of Economy, Martín Guzmán, who is reluctant to continue raising the tax pressure.

This new tribute reaches those who have a declared wealth

greater than $ 200 million,

with an aliquot of 2.0%, and with incremental aliquots starting at $ 300 million. The maximum rate for those with more than $ 3,000 million is

3.5%

for local goods and

5.25%

for goods outside the country. Taxpayers could choose to pay 20% of the tax in cash and the rest in

5 consecutive monthly payments.

The data from the Central detail that of the nearly 10,000 taxpayers who presented themselves,

only 26% were women

, while the remaining 74% were men.

"If the funds collected are taken into account, both in cash and in installment payment plans, 24% was contributed by women, while men paid 76%," details the entity's Monetary Policy Report.

There it is specified that half of the people reached by this contribution have a wealth of between $ 200 to $ 400 million.

It is estimated that those who are reached with the highest rate were

less than 400 people.

"It was calculated that only about 253 contributors would have contributed half of the total collection with average contributions close to

$ 608 million,

" the report indicates.

The income received until July 2021 for this contribution totaled about

$ 197,000 million.

The Central estimates that the annual collection will reach about $ 250,000 million (approximately 0.6% of the gross product).

The amount collected is less than

what was initially calculated by the AFIP.

"The annual figure would be between 8% and 19% below the maximum values ​​originally estimated by the AFIP," says the Central. The reason that he uses to explain this difference is that "it was assumed that

there would be no repatriation of assets that would reduce the aliquots

", so it was expected to obtain income between $ 272,490 million and $ 307,898 million.

The law establishes that in the case of goods abroad, the rates increase by 50% with respect to local goods.

But at the same time it was established that these aliquots are reduced to the same level that applies to assets in the country, as

long as at least 30% of financial holdings are repatriated

.

In this way, the Central indicates that the "repatriation" of goods was above the official calculation.

The destination of the funds

The law that created this tax established

specific destinations

for these funds.

Although this tax was linked to the Covid emergency, the truth is that

only 25%

would go to pay for the provision of supplies, equipment and medicines to combat the pandemic.

The rest of the money is distributed between

subsidies

to micro, small and medium-sized companies, to Progresar scholarships, to the improvement of housing conditions in popular neighborhoods and to finance YPF's gas production.

The tax also played a key role in helping the government reduce the fiscal deficit.

In July, the fiscal accounts turned in the red for the second consecutive month.

The primary fiscal deficit was

$ 98,570 million

.

This result includes the income associated with the wealth tax, which the Economy calls “Solidarity Contribution”.

Otherwise, the primary deficit was

$ 117,739 million

AQ

Look also

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Income Tax: Justice issued a ruling that will prevent a company from paying a rate of 80%