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Máximo Kirchner proposes International Capital Transfer Tax
Argentine deputy Máximo Kirchner, representing the Unión por la Patria bloc, has introduced a legislative proposal to create the International Capital Transfer Tax (ITIC). The project aims to levy a 3% general tax on operations involving the effective exit of capital from the country, including currency, negotiable securities, and virtual assets. An additional 2% tax would apply to transfers destined for low or zero-tax jurisdictions, bringing the total rate to 5%.
The proposal estimates a minimum revenue generation of $2.89 trillion. The project outlines a specific distribution plan for these funds: 60% would be allocated to provinces and municipalities for infrastructure, health, education, and housing; 10% for health and disability; 10% for education; 10% for pensions; and 10% for medical care and medications through PAMI.
The tax is designed to exclude local savings, retail foreign purchases, documented imports, and investments where assets remain within Argentina. The initiative has faced criticism from opposition sectors and some within the peronist bloc, with some arguing it could be used for political purposes or might face a presidential veto.
Entities
Argentina · Congreso de la Nación Argentina · Javier Milei · La Cámpora · Máximo Kirchner · PAMI · Union por la Patria
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 9 SOURCES] The tax targets capital outflows via currency, negotiable securities, or virtual assets. www.politicargentina.com · diariopampero.com · limite42.com · santafederf.com.ar · tolhuinprimero.com · +4 more
- [● 6 SOURCES] The remaining 40% of revenue would be split between health, education, pensions, and PAMI medical care. www.politicargentina.com · diariopampero.com · norteonline.com.ar · noticiaslainsuperable.com.ar · santafederf.com.ar · +1 more
- [● 9 SOURCES] The ITIC would feature a general rate of 3%. www.politicargentina.com · www.parlamentario.com · diariopampero.com · limite42.com · santafederf.com.ar · +4 more
- [● 6 SOURCES] The proposal excludes local savings, retail foreign purchases, and documented imports. www.politicargentina.com · norteonline.com.ar · diariopampero.com · santafederf.com.ar · tolhuinprimero.com · +1 more
- [● 6 SOURCES] 60% of collected funds would be allocated to provinces and municipalities. www.politicargentina.com · diariopampero.com · norteonline.com.ar · noticiaslainsuperable.com.ar · santafederf.com.ar · +1 more
- [● 9 SOURCES] The tax rate increases to 5% for funds destined for low or zero-tax jurisdictions. www.politicargentina.com · diariopampero.com · limite42.com · santafederf.com.ar · tolhuinprimero.com · +4 more
- [● 6 SOURCES] The project estimates a minimum potential revenue of $2.89 trillion. www.politicargentina.com · norteonline.com.ar · noticiaslainsuperable.com.ar · diariopampero.com · santafederf.com.ar · +1 more
- [● 9 SOURCES] Máximo Kirchner proposed the creation of the International Capital Transfer Tax (ITIC). www.politicargentina.com · www.parlamentario.com · diariopampero.com · limite42.com · santafederf.com.ar · +4 more