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.
