Argentinas global tax system

[SinPulgas]

You are asking the wrong questions.

The right question would be: Will Milei eliminate the tax on personal assets?

All countries with a few exceptions tax their residents income (and in the case they have an asset tax, assets) no matter where in the world they are held or derived.

The United States and the East African nation of Eritrea are the only two countries that tax the worldwide income of all citizens and permanent residents regardless of where they live or where they earn money. (Apr 1, 2022)

 

[ArgentinaVet]

The United States and the East African nation of Eritrea are the only two countries that tax the worldwide income of all citizens and permanent residents regardless of where they live or where they earn money. (Apr 1, 2022)

I never mentioned citizenship. I said resident, as in people who live in Argentina (or any other country with residency based taxation system) more than 183 days per year and are considered tax residents by the local taxation authority.

 

[charlesfradley]

In am more interested in the fate of Argentina's income tax system .....Before the general elections in Argentina for the presidency and Congress in October 2023, Economy Minister Sergio Massa announced a government decree to temporarily increase the minimum income threshold for personal income tax (PIT) liability so that 99% of employees (and retirees) will not be subject to income tax in the fourth quarter of 2023. The lower house of Congress has approved draft legislation to make the change permanent (effective January 1, 2024), and it is awaiting consideration in the upper house.

The income tax exemption was greatly increase by Massa to 180 times minimum wage (from 15 times), so is now about $5,000 per month, which is a lot higher than my retirement income would be.

Question: has Milei shown any signs of rescinding that temporary decree of Massa ? And could Milei then veto legislation to ratify Massa's temporary decree (and make it permanent), introduced by the Congress?

 

[charlesfradley]

In am more interested in the fate of Argentina's income tax system .....Before the general elections in Argentina for the presidency and Congress in October 2023, Economy Minister Sergio Massa announced a government decree to temporarily increase the minimum income threshold for personal income tax (PIT) liability so that 99% of employees (and retirees) will not be subject to income tax in the fourth quarter of 2023. The lower house of Congress has approved draft legislation to make the change permanent (effective January 1, 2024), and it is awaiting consideration in the upper house.

The income tax exemption was greatly increase by Massa to 180 times minimum wage (from 15 times), so is now about $5,000 per month, which is a lot higher than my retirement income would be.

Question: has Milei shown any signs of rescinding that temporary decree of Massa ? And could Milei then veto legislation to ratify Massa's temporary decree (and make it permanent), introduced by the Congress?

Well so far it looks like Milei supports the income tax cut (exemption increase)..... he commented on the decree as follows:

From: https://www.batimes.com.ar/news/arg...ower-house-with-support-from-milei-left.phtml

Translated quote from above web link: "In turn, La Libertad Avanza deputy and presidential candidate Javier Milei anticipated his vote in favour by saying: "Taxation is theft and any initiative to lower it will find me in agreement. Taxes are a leftover from slavery and to cut them is to restore liberty to the citizenry. It is uncommonly delirious to regard wages as profit, that’s filthy and must be eliminated," insisted the libertarian."

 

[SinPulgas]

I never mentioned citizenship. I said resident, as in people who live in Argentina (or any other country with residency based taxation system) more than 183 days per year and are considered tax residents by the local taxation authority.

Sorry, my mistake.