News of tax

Argentina seeks to tax lithium boom to avoid region’s resource curse

02-10-2023 11:57 Provincial and federal officials want to tap the profits of lithium companies with an annual tax that would be put toward building infrastructure.

'Ganancias' bill

Argentina to all but end income tax as election spending spurs inflation

29-09-2023 09:27 Sergio Massa's push to eliminate income taxes for almost all formal workers wins approval in the upper house.

economy

How Javier Milei would cut Argentina spending by 14% of GDP

25-09-2023 09:15 Javier Milei’s fiscal belt tightening would focus on slashing expenditures on subsidies for utility bills, like gas, electricity and water, as well as federal government transfers to poor provinces.

'Ganancias' bill in Congress

Income tax bill clears lower house with support from Milei, left-wingers

20-09-2023 16:38 Bill to raise ‘ganancias’ threshold to 1.77 million pesos approved by lower house; 135 Frente de Todos, provincial party, leftist and libertarian deputies, among others, back it; 103 votes against, mostly Juntos por el Cambio.

MINISTER ON CAMPAIGN

Massa aims portfolio power at pockets with income tax bill

14-09-2023 13:55 Economy Minister Sergio Massa raises income tax minimum threshold and programme to return IVA value-added tax, just one month before elections; Move means just 80,000 tax-payers will be paying 'ganancias' from October onwards.

WATERWAYS

South American neighbours slam Argentina over river tax on Paraguay

11-09-2023 21:18 Argentina’s neighbours have sharply criticised its tax against commercial boats travelling through the key Paraná River, backing Paraguayan objections.

POLITICS

Argentina spares millions from paying income tax as vote nears

11-09-2023 21:12 Workers earning less than 1.7 million pesos (US$4,857) per month won’t have to pay income taxes as of October, up from the previous threshold of about 700,000 pesos.

ELECTIONS 2023

Milei’s plan for Argentina: Dollarisation, scrapping taxes and more

14-08-2023 13:51 From ditching the struggling peso to eventually eliminating Argentina’s Central Bank, outsider presidential candidate Javier Milei has vowed to implement a series of bold — and perhaps unfeasible — measures.

ECONOMY MINISTRY

Government raises income-tax floor to half a million pesos

25-04-2023 13:29 Government raises income-tax floor to 500,000 pesos as inflation bites into pockets of workers.

FEATURE

Epic drought pushes economic crisis to new extremes

12-04-2023 15:43 Exports poised to plummet with almost half the soy crop ruined; Dollar shortage putting pressure on peso, fuelling inflation.

POLITICS – ANALYSIS

Operation ‘spook’

17-12-2022 06:00 With inflation running near 100 percent and an economy that could grind to a halt given a structural lack of hard currency, optimism is reserved for the brave.

by Agustino Fontevecchia

US-ARGENTINA RELATIONS

Massa seals tax info exchange deal with United States

06-12-2022 22:29 Argentina’s Economy Minister Sergio Massa wins over Washington and signs an agreement with US Ambassador Marc Stanley guaranteeing the exchange of tax information from Internal Revenue Service.

ECONOMY

Argentina will sign tax info exchange deal with US soon, says AFIP chief

09-11-2022 21:34 Head of Argentina’s tax agency confident that Argentina will sign an agreement with the United States government regarding the exchange of tax information later this month.

EDITORIAL

Budget or judge it (or fudge it)

29-10-2022 06:00 It looks like Argentina will have next year the Budget which it never could in this – that is the main upside after long hours of parliamentary debate which have done nothing to redeem politics from its current disrepute.

POLITICS & CONGRESS

Lower house approves 2023 Budget after marathon session

26-10-2022 12:23 Ruling coalition secures approval of 2023 Budget bill with 180 votes in favour, 22 against and 49 abstentions, though articles to strip income tax exemptions for judges and judicial workers fails to win support.

BRAZIL ELECTION 2022

Lula alleges Neymar supports Bolsonaro over debt woes

19-10-2022 11:24 Luiz Inácio Lula da Silva slams football star Neymar's support for Jair Bolsonaro, alleging the player has been motivated to back the incumbent by a debt "pardon."

BLOOMBERG – ANALYSIS

British pound collapse erodes international trust in UK

28-09-2022 23:41 The UK thought it had the trust of markets — until it didn’t. Now homeowners and businesses will likely have to pay the price.

AGRICULTURE

Farmers stage 24-hour strike against government, citing 'tax pressure'

13-07-2022 12:26 Farmers in Argentina ceased sales for 24 hours on Wednesday as agricultural industry leaders criticised government policy, tax pressures and fuel shortages.

POLITICS & POLICY

Argentina pushes bill to tax ‘unexpected’ profits amid disputes

07-06-2022 08:05 President unveils legislation to slap a 15 percent tax on companies’ extraordinary profits, a move seen as appeasing the most radical left-wing members of his divided coalition.

POLITICS

Fernández, Guzmán seek special tax on Ukraine war windfall profits

06-06-2022 21:34 Reacting to tensions in the ruling coalition, President Alberto Fernández vows to move ahead with windfall profits tax and tells Congress it has the “obligation to support” the bill.

BLOOMBERG

As rivals turn screws on mining, Argentina puts out welcome mat

11-05-2022 23:35 Government turns to capital-control loopholes and tax breaks, eyeing export boost as neighbours look to raise mine taxes.

Inflation & Currency

Closing the 'escape valve' – Venezuela pursues de-dollarisation

06-05-2022 10:45 Venezuela is now trying to re-energise its own currency, the bolívar, which has been crippled by devaluation in recent years.

AND THAT REMINDS ME…

Windfalls or smokescreens?

23-04-2022 00:01 In proposing to milk any commodity price bonanza arising from the Ukraine war without offering anything to recoup losses, the government is blatantly applying a “heads I win, tails you lose” logic.

by Michael Soltys

TECH & TAX

Argentina's tech industry earning billions of dollars off the books

22-04-2022 16:30 Billions of dollars in Argentine technology exports are going unreported as companies and freelance workers skirt currency controls, according to an industry group.

ANALYSIS: EXPERT VIEW

Economists weigh in on government’s new bonus and windfall tax

21-04-2022 14:54 Experts critique new tax announced by President Alberto Fernández and Economy Minister Martín Guzmán and highlight reasons for new bonus payment.

RULING COALITION

Frente de Todos senators eye bill to tax undeclared assets held overseas

28-03-2022 22:02 Ruling coalition senators propose new bill that would tax the undeclared assets of citizens held overseas and use them to pay off IMF debt.

FOOTBALLERS & WEALTH TAXES

‘Kun’ Agüero versus the Kirchnerites

18-02-2022 22:54 Sergio Agüero sparks debate and anger on social networks after he questions the national government’s ‘wealth tax’ on large fortunes.

by Daniel Vico

CRYPTOCURRENCIES

IMF urges El Salvador to remove Bitcoin as legal tender

25-01-2022 18:45 The IMF on Tuesday called on El Salvador to change course and stop using Bitcoin as legal tender, citing "large risks" posed by the cryptocurrency.

wealth tax

Wealth tax nets 247 billion pesos from 10,000 tax-payers

29-12-2021 23:19 According to Economy Ministry data, revenue from Argentina’s one-off capital levy on assets totals 247.503 billion pesos (around US$2.4 billion) as of December 18, with contributions from more than 10,000 tax-payers.

COURT RULING

Carlos Tevez loses legal bid to avoid paying Argentina’s wealth tax

22-12-2021 12:32 Court rejects injunction filed by ex-Boca Juniors striker Carlos Tevez seeking to exclude him from paying Peronist government’s wealth tax on large fortunes.