Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020
News Every Day |

Argentina seeks wealth tax to help COVID-19 hit families

November 18, 2020

BUENOS AIRES (Reuters) – The lower house of Argentina’s Congress on Tuesday began debating a bill seeking to raise 300 billion pesos ($3.75 billion) through a tax on large fortunes to finance programs aimed at helping families hit by the COVID-19 pandemic.

The government-backed bill may be approved late on Tuesday if debate does not continue past midnight, as some local media predicted. The Senate was expected to consider the legislation before the end of the month once it is passed by the house.

People with more than $2.5 million – about 12,000 individuals – would get hit by the 2% flat tax. The levy would increase progressively as equity increases, under the proposal.

More than 35,700 Argentines have died of COVID-19 so far, according to official data.

President Alberto Fernández took office in December amid a recession that has been exacerbated by the pandemic. He has sharply increased public spending to protect hard-hit families over recent months.

Money raised by the tax is to be used to buy health equipment, fund welfare subsidies and loans for small and medium-sized companies with the aim of increasing employment.

(Reporting by Eliana Raszewski; Writing by Hugh Bronstein; Editing by Bill Berkrot)

Read also

Breaking: Senator Elisha Ishaku Abbo dumps PDP for APC

Michael Kay rips Aaron Boone’s Gary Sanchez defense: ‘Everybody has eyes’

To Be Honest – Salzburg Sporting Director Makes Admission On Arsenal Target

News, articles, comments, with a minute-by-minute update, now on — latest news 24/7. You can add your news instantly now — here