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In addition, foreign banks regulated credit in Argentina and controlled the international transport of Argentine exports. [7] By 1946, Argentina found itself with significant reserves of gold and foreign currencies originating from exports during the World War II. The accumulation of a favorable balance in the trade balance in the form of gold ...
Argentina's public debt grew enormously during the 1990s without showing that it could service the debt. The IMF kept lending money to Argentina and extending its payment schedules. Reports indicate that tax evasion and money transfers to offshore banks played a role in capital outflows.
Argentina has a progressive tax on personal income that is collected as a deferred tax. It also has a flat rate tax on business income ( corporate tax ) - 35%. There is a stamp tax of 1.5% on the total value of real property , whether it gained or lost value, as opposed to just 1.5% applied only to realised capital gains.
Argentine President Javier Milei announced plans to shut down the country's tax collection agency, a bold step in his ongoing effort to slash government spending and bureaucracy.
"The national government will advance a significant reduction in taxes, starting with the country tax, a distorting tax," said Milei during an event in the province of Cordoba.
Argentina's new government withdrew major spending reforms from a sweeping "omnibus" bill in Congress to facilitate its approval, the economy minister said on Friday, while stressing President ...
Tax evasion has long saddled Argentina's public finances, shifting the burden to the middle and working classes by way of high value-added taxes (which are easier to collect). Improvements in enforcement since the 1990s have abated the problem from its peak in the 1980s, when fully half of all tax liabilities (and most income taxes) were evaded ...
The "Killer B" strategy is a tax-avoidance strategy that reduces a firm's taxes owed on the repatriation of foreign cash used in the acquisition of another firm through the classification of an acquisition as a reorganization provided by Section 368(a)(1)(B) of the Internal Revenue Code.