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Wealth tax: the ruling party gave an opinion and hopes to collect $ 307 billion

2020-09-25T20:23:37.470Z


It will tax assets over $ 200 million and ultimately will not include residents outside the country. Together for Change rejected it.


Jasmine Bullorini

09/25/2020 - 17:11

  • Clarín.com

  • Politics

The ruling party of the Chamber of Deputies gave an opinion on the "extraordinary contribution to wealth", which will tax individuals with assets exceeding

$ 200 million

.

Together for Change rejected it.

According to the Frente de Todos, there

will be 9,298 people reached and the collection will be around $ 307 billion.

At the start of the Budget commission, its president, Carlos Heller, clarified that finally they did not include foreign residents with assets in the country in the project.

"It is limited to residents only

," he said.

He also confirmed that the date from which wealth is to be calculated was changed.

The original text stated that the calculation would be made on the assets declared as of December 31, but to avoid problems due to retroactivity, it was set with the date

 "as of the promulgation

."

"However, an article was added that establishes that when an

operation that constitutes an" evasive ruse "

is presumed

, the AFIP may" order that they be computed, "unless it proves otherwise.

Together for Change presented its own opinion rejecting the government project.

“We recognize that the official opinion improved with respect to the original, for example in what had to do with retroactivity.

But

vices persist that lead us to reject it,

"said the radical Luis Pastori.

Along these lines, he emphasized two particular points: "double taxation" and "the effect on the principle of equality."


"A confiscation can be given due to multiple taxation. The encumbered assets are the same as those encumbered with Personal Property.

The accumulation of both encumbrances can make them confiscatory,

" Pastori assured.

He was also against the 50% increase in the rate for those Argentines who have declared assets abroad.

That same article establishes that whoever repatriated 30% of their financial assets will not pay that differential.


"It affects the principle of equality in what has to do with the goods that are abroad, since just because they are abroad they have a differential rate, and then it has nothing to do with the taxable capacity. It is a punishment, beyond the fact that everything has been done legally and they are paying taxes, "he added.


Who does it affect?

According to AFIP estimates, there will be 9,298 people affected by the tax.

The account is added to 7,438 who declared assets of over $ 200 million and another 1,860 people who, according to the projections of what they declared in 2018, are estimated to be achieved.


Of that total, they estimate there are 253 people who have more than $ 3 billion and would contribute "almost half," according to Heller.

For their part, 372 people will be reached by the tranche between $ 1500 and $ 3000 million, while 4178 people would be among those who have assets ranging from $ 200 to 400 million.

"The contribution will be supported by 60% by a universe of 600-odd people," Heller defended.

For its part, the Congressional Budget Office stated that "the incorporation of assets excluded from the Personal Property Tax (bank deposits, public securities and rural real estate, mainly) generates that the taxable base of the Solidarity Contribution in analysis is approximately

four times higher than that of said tribute ".

Source: clarin

All news articles on 2020-09-25

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