Putting Gustavo's case to one side (it now seems clear he doesn't have any hard assets and therefore indeed does escape the bienes personales tax), what is the basis of your belief that the wealth tax only kicks in at US$2.4 million?
As per the article Gracielle attached above, the tax first kicks in at 3 million pesos (about US$ 36,000 at the current official exchange rate). The most excessive tax rate (the 2.25% rate) kicks in at 18 million pesos (US$ 216,000). If it were 2.4 million US dollars, this thread would never have run to 12 pages; the tax would affect nobody.
Two intersting points:
It does not say
'net assets'. So if you own a $5mm house you pay the tax even though you may have a $7mm mortgage. Many people will have to sell assets to pay the tax.
Whether you meet the threshold depends on the exchange rate.
.
bloomberg.com/news/articles/2020-12-05/argentina-to-hit-the-rich-with-wealth-tax-as-covid-19-costs-rise
Argentina’s Senate late Friday approved a proposed one-time wealth tax, which seeks to boost government revenue by targeting millionaires with assets of more than 200 million pesos
($2.4 million)
.bbc.com/news/world-latin-america-55199058
Argentina has passed a new tax on its wealthiest people to pay for medical supplies and relief measures amid the ongoing coronavirus pandemic.
Senators passed the one-off levy - dubbed the "millionaire's tax" - by 42 votes to 26 on Friday.
Those with assets worth more than 200 million pesos (
$2.5m) - some 12,000 people - will have to pay.
Tax expert warns bill to impose one-off levy on assets of rich could eventually hit as many as 30,000 people, depending on exchange rate at time it becomes law.
www.batimes.com.ar
He was echoed by another tax expert, Iván Sasovsky. “The real scope of this tax will depend on the exchange rate at the time of the promulgation of this law,” he said.
“The issue is that since the idea first came up with the first numbers, today’s panorama is totally different, owing to the devaluation of the peso,” considered Sasovsky.
He explained that assets, as from US$3.3 million on which the tax was to be levied, were now down to US$2.3 million due to devaluation, which implies a raising of the tax floor.
Argentina's Senate passed a tax on about 12,000 of the country's richest people on Friday, to pay for coronavirus measures including medical supplies and relief for the poor and small businesses.
www.france24.com
Under the scheme -- also dubbed the "millionaire's tax" -- people with declared assets greater than
200 million pesos ($2.5mm) will pay a progressive rate of up to 3.5 percent on wealth in Argentina and up to 5.25 percent on wealth outside the country.
www.cronista.com
