Fausta's Blog

American and Latin American Politics, Society, and Culture

November 1, 2017 By Fausta

Argentina: Good news, bad news on taxes

The WSJ reports
Argentina Plans Overhaul of Tax Code. Country to slash corporate income taxes to 25% within five years
The tax elevator:
Going up,

  • 15% capital-gains tax on certain financial transactions
  • 10% tax on wine
  • 17% duty on champagne
  • raise taxes on sugared sodas
  • double the tax on beer to 17%
  • double taxes on private airplanes and expensive boats and motorcycles.

Going down,

The government aims to cut corporate income taxes to 25% from 35% within five years, reduce social security taxes on employers and eliminate taxes on certain bank transactions. Federal officials also plan to work with provincial governors to lower so-called gross income taxes on goods, Mr. Dujovne said.

And eliminate

  • 17% tax on cellphones, televisions and monitors
  • 10% tax on high-end cars.

The article points out that “Argentina ranked dead last out of 137 countries in a recent survey on tax-rate competitiveness by the World Economic Forum.” Macri’s administration is attempting to reverse decades of ruinous fiscal policies.

In Spanish: Clarín has dozens of articles on the proposed tax reform.

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Filed Under: Argentina, Fausta's blog, taxes Tagged With: Mauricio Macri

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