Argentine President Macri Wants Amnesty for Tax Dodgers, Like Himself
teleSUR | May 28, 2016
President Mauricio Macri will propose an amnesty law for those who bring back to Argentina any undeclared funds that were kept in overseas accounts, in order to settle debts with state pensioners.
“Argentines have billions of pesos overseas because they didn’t trust in the state. We need to tell them to join us, to be part of our new era. We invite them to wipe the fiscal slate clean,” said Macri.
President Macri said he will present the bill to Congress with three options. First, people can pay a tax of 5 percent for up to US$56,000 and 10 percent above that until Jan. 1, 2017. Second, they can convert their funds to bonds in the country. The last option, they can place the money in long-term investment in Argentina.
“Last time we had this process, which was easier, the country collected only $670 million dollars. Therefore, this law has nothing to do with the economy, but that there is dirty money associated with top officials in the government that needs to be cleaned,” said lawmaker Claudio Lozano.
Macri admitted this week that he has US$18 million in tax havens after he repeatedly denied earlier allegations arising from being named in the Panama Papers. He also failed to declare his high-level positions in two offshore companies in Panama in his mandatory declaration at the beginning of his term.
Macri’s fortune went from USD$52 million in December 2015 to USD$110 million in May 2016.
On the other hand, austerity and neoliberal policies rolled out since Macri took power continue to hit the country, such as price hikes in public services, transportation, gas and electricity. The country also holds its highest inflation rate since 2002.
RELATED:
Macri Backs Tax Breaks for the Rich, Layoffs for the Poor
Panama Papers: Macri Implicated in Offshore Tax Haven Scandal
No comments yet.

Leave a comment