• Delicious




Bill To Raise Income Taxes On Its Way To Argentine Senate

by Leroy Baker, Tax-News.com, Washington

30 November 2001

A bill that will increase income taxes for Argentina's most wealthy people and companies has been given the all clear by the lower house and is now on its way to the Senate.

If the Senate approves the bill it will raise the tax rate from 35 percent to 45 per cent for people who earned over $1 million and companies with over $5 million profits this year.

The tax hike is expected to raise an extra $800 million for the government. Juan Carlos Tomasetti, adviser to the opposition Peronist Party deputies told Reuters news agency: 'the project was approved without modifications. Its sole purpose is to collect more.'

.

 

 






Write a comment