The Frente de Todos, the political coalition at the head of the Argentine government led by Alberto Fernández, is preparing a new tax on large fortunes in the country.
The coalition has submitted a bill to the Argentine Chamber of Deputies with the aim of applying a new tax that would affect approximately 12,000 Argentines with assets of more than 200 million pesos (more than 2.2 million euros). according to the Argentine press.
Likewise, it is estimated that this bill would generate pesos 300,000 million in tax revenue for Argentina, with the aim of distributing it to small and medium-sized businesses, medical teams to address the coronavirus pandemic and public works.
The congressman Máximo Kirchner, son of the Argentine vice-president Cristina Fernández de Kirchner, and the president of the solidarity party Carlos Heller were responsible for leading this initiative.
Fernández proposed the introduction of a tax on the country’s large fortunes back in April after the collection in Argentina fell by almost 29 percent due to the emergency situation imposed in the country to stop the progression of the coronavirus.