I accessed the project that proposes to tax assets of more than $ 10 million

The legislators Hugo Yasky and Facundo Moyano, among others, presented a bill named “Homeland Tax”, which aims to establish an exceptional tax, within the framework of preventive and compulsory isolation, “in order to distribute essential resources to guarantee the socioeconomic well-being of the most vulnerable sectors of our country”.

“Before the pandemic dictated by the World Health Organization on March 11, 2006, Argentina was in a meager economic situation as a result of the deregulation policies promoted for 4 years, which brought the poverty level to 35.5 % and a fall in the purchasing power of society as a whole close to 20%. Added to this is the level of indebtedness close to a GDP at the end of 2019, facing the need to renegotiate such debt, “argues the project.

“In this context, the COVID-19 pandemic occurs, and where the National Government has prioritized decisions that protect health over decisions of an economic nature. Due to the rapid advance of the pandemic, the world is facing a global economic crisis , which bears some similarities to the crisis of the 1930s. The isolation health measures recommended by the WHO, “add the promoters.

“Due to these extraordinary, unprecedented events, it is essential to sustain economic and productive activity in order to guarantee the source of employment for all Argentines. For this reason, we understand that priority must be given and guaranteeing the indispensable supply for the operation of the chains of provision of households and businesses, “they emphasize.

In this context, the initiative proposes:

• A Single Tax on Personal Assets. The same “establishes a one-time tribute to every human person or the undivided successions reached by article 17 of law 23,966, on existing assets as of March 31, 2020 that exceed $ 10 million. “
• The tax to be paid by the taxpayers indicated in article 1, will be 1.25% for goods registered in the national territory, and 1.75% for goods registered abroad. In other words, in the first case, taxpayers with $ 10 million should pay $ 125,000 for this tax, if approved.
• In addition, the text establishes a imposed on any human or legal person, reached by the Income Tax, Law 20,628. T.O. Decree 649/97, whose net profitability exceeds $ 50,000,000, according to the data released by official organizations.
• “The tax to be paid by the taxpayers indicated in the preceding article, will be 10% of what is declared in the respective affidavit of earnings,” states the text.

According to the project, the proceeds will go “to the purchase or production of intensive care materials.”

In addition, it establishes that “the distribution of the proceeds will be carried out, automatically, among the provinces that adhere through the Banco de la Nación Argentina, according to the percentages established in Law No. 25,348 and its amendments. Such transfer will be daily and the Banco de la Nación Argentina will not receive remuneration of any kind for the services it provides pursuant to this “.

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