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Argentinean congress discusses new tax regulation for the richest people in order to sanitize the economy and overcome Covid-19

Argentinean president Alberto Fernandez proposed a new set of regulations to tax the richest people in the country (above 2,35 M dollars).

Now the congress discusses the proposal that would create a one-time tax, starting with 3.5% up to 5.25%. The extraordinary fee is estimated to affect between 9.000 and 12.000 richest Argentineans, then 20% of the money collected will be used to fight the Covid-19 crises, and the rest will be used to reduce the economic crisis that holds the country in recession since 2018, having 40,9% of the total population of 44 million Argentineans under the poverty line.

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Card reviewed by: @christoph