Argentina's New Tax On Residents Global Wealth

Silvie

Registered
I lack information as to whether my Social Security payments could also be interpreted as a bien personal.

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Your social security payments are your income and get declared in Ganancias annually.
Your savings, vehicles, boats and properties are bienes personales, for which you get taxed over and over again every year. I am also from Buenos Aires and returned from NY after 37 years; I find this issue a nightmare but at least, most of what I own stays in the US.
The new tax law on global wealth, passed during the last 2 or 3 months, is mainly for extremely rich people and it doesn't affect most of us.
 

Alby

Registered
Latin America has had so far only one democratically elected president of native origin after six centuries (!) of occupation. Evo Morales, whatever our opinion of him, is an anomaly that confirms the fact that that overwhelming majority of native people are never politically represented in those regions.
Alejandro Toledo as well.

Separately, without going back too much over matters that have been canvassed earlier on this thread, part of the explanation for how expats manage the tax issues here is that some of us are protected by double taxation treaties which mean we only pay tax for certain items (including retirement income) in either our home country or in Argentina. Unfortunately, there is no double tax treaty between the US and Argentina. Unfortunately, too, the double tax treaties don't satisfactorily cover the bienes personales tax (and none cover the more recent millionaires tax--not that this tax is likely to affect any expat).
 

jeff1234

Registered
Buenos Aires Times


Argentina's wealth tax has collected just 2% of target to date


Argentina’s new wealth tax has netted just two percent of its target figure ahead of its original deadline, with the nation’s richest citizens evidently in no hurry to pay up.

The government collected only 6.063 billion pesos (US$66 million) from its one-off “extraordinary contribution” in the course of March, a communiqué reported on Monday night (not including advance payments of 504 million pesos).

Although Argentina’s richest individuals now have until April 16 to pay the tax – after authorities extended the original March 30 deadline – the intake thus far has been well below the projected target of 300 billion pesos when Congress approved the bill late last year.

The tax was designed to help cover some of the costs incurred by the government in meeting the health crisis triggered by the coronavirus pandemic (although other areas have since been added). Argentines owning more than 200 million pesos worth of assets must pay between 2.25 and 5.25 percent of that fortune, depending on its size and whether it is invested at home or abroad.
 

antipodean

Registered
Buenos Aires Times


Argentina's wealth tax has collected just 2% of target to date


Argentina’s new wealth tax has netted just two percent of its target figure ahead of its original deadline, with the nation’s richest citizens evidently in no hurry to pay up.

The government collected only 6.063 billion pesos (US$66 million) from its one-off “extraordinary contribution” in the course of March, a communiqué reported on Monday night (not including advance payments of 504 million pesos).

Although Argentina’s richest individuals now have until April 16 to pay the tax – after authorities extended the original March 30 deadline – the intake thus far has been well below the projected target of 300 billion pesos when Congress approved the bill late last year.

The tax was designed to help cover some of the costs incurred by the government in meeting the health crisis triggered by the coronavirus pandemic (although other areas have since been added). Argentines owning more than 200 million pesos worth of assets must pay between 2.25 and 5.25 percent of that fortune, depending on its size and whether it is invested at home or abroad.
Plan B: Respiration tax. We can pay for the pandemic based on how much we breath public air.
Plan C: IMF ¿donde estas?
Plan D: Spending and regulatory cu.... no never mind... skip straight to expropriations.
 
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