News of wealth

Rich investors pull out of Chile, leaving behind a US$50-billion hole

19-01-2023 14:45 Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.

BRITISH POLITICS

Prada and pools: Rishi Sunak's mega-wealthy wife and in-laws

25-10-2022 12:49 Akshata Murty, the Indian wife of Britain's next Prime Minister Rishi Sunak, is fabulously rich thanks to her billionaire father, a fortune that is attracting controversy.

UNDECLARED WEALTH

INDEC: Argentines have more than US$360 billion in undeclared wealth

01-07-2022 11:04 INDEC puts a number on the colossal fortune Argentines are hiding from the tax authorities – according to the bureau, more than US$360 billion is stashed overseas or under mattresses, either in banknotes or invested in foreign funds and currencies.

Wealth & inequality

Seven Argentines make the cut on annual Forbes rich list of billionaires

07-04-2022 01:58 US magazine releases annual ranking of the richest businessmen in the world – who are they, how much do they accumulate over the past year and what is the size of their fortunes?

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

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.

Global inequality

Billionaires' share of global wealth soars during pandemic

07-12-2021 15:34 The club of the richest 1% in the world has taken more than a third of all additional wealth accumulated since 1995, while the bottom 50% captured just 2%.

KIRCHNER FAMILY WEALTH

Cristina Fernández de Kirchner declares wealth of 16.4 million pesos

22-09-2021 14:19 Vice-President Cristina Fernández de Kirchner declares total wealth of 16,463,095 pesos; Máximo Kirchner reports 400 million pesos.

capital levy

AFIP promises crackdown in 'wealth tax' enforcement launch

26-05-2021 15:46 AFIP warns it may seize assets and freeze bank accounts of those who haven't paid up what they owe under the government's so-called 'wealth tax' levy on millionaires.

Bloomberg

Chile’s Lower House rejects wealth tax, higher corporate levies

19-05-2021 09:31 Chile’s lower house of Congress has rejected proposals for a wealth tax and higher corporate levies, marking a major setback for the legislation.

'Wealth tax'

AFIP: One-off 'wealth tax' has brought in US$2.3 billion so far

03-05-2021 22:10 Around 80% of the roughly 12,000 who qualify for the one-off Covid capital levy have paid up to date, says AFIP, boosting government coffers by more than US$2.3 billion.

'Wealth tax'

Wealth tax fought by the rich raises more than US$2 billion

03-05-2021 21:58 Alberto Fernández administration has raised 74% of the amount it had targeted from a controversial new tax on the country’s wealthiest citizens.

TAXING THE RICH

Joe Biden puts taxing the rich back in the spotlight

29-04-2021 00:35 US president unveils plan to nearly double the capital gains tax to 39.6% for US households making over $1 million, in his first speech to Congress.

Jugador del Pueblo?

Carlos Tevez seeks to avoid paying Argentina's new wealth tax

17-04-2021 09:54 Boca Juniors striker files court injunction to avoid paying the country's new wealth tax, the latest example of the difficulty in making millionaires comply with the levy.

BLOOMBERG – ANALYSIS

Tax-the-rich initiatives gain support across Latin America

08-04-2021 14:55 Chile, Mexico, Colombia see wealth tax proposals advancing, Argentina and Bolivia have already passed measures; Debt in region soared as pandemic caused worst crash in two centuries.

CAPITAL LEVY

Argentina's wealth tax has collected just 2% of target to date

06-04-2021 16:47 Argentina’s new wealth tax has netted just two percent of its target figure ahead of its original deadline, with the nation’s richest citizens evidently in no hurry to pay up.

INVESTMENT

President pitches Argentina to top global investment funds

16-03-2021 21:23 President Alberto Fernández pitched Argentina’s growth potential to a host of top global investment funds on Tuesday, as he asked them to back the country and its bid for economic recovery.

Poverty and taxation

Wealth tax: inequality solution for Latin America?

19-02-2021 12:52 The income chasm between the rich and poor in Latin America has led to efforts to tax the wealthy – though the reception has been uneven across various countries.

PRAISE AT DAVOS

Oxfam hails Argentina’s ‘wealth tax’ as law takes effect

30-01-2021 08:21 Charity calls on other nation states to raise taxes on their richest citizens, citing government’s new law as an example.

'Wealth tax'

Government's 'wealth tax' levy for virus relief takes effect

29-01-2021 15:27 One-off tax on Argentina's richest citizens to help pay for medical supplies and relief for small businesses battered by the global coronavirus pandemic entered into force on Friday.