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2 clusters · 37 sources · 5 days · First seen · Last updated

Argentine proposal for International Capital Transfer Tax

Overview

Argentine National Deputy Máximo Kirchner of the Unión por la Patria bloc has introduced a legislative proposal to establish the International Capital Transfer Tax (ITIC). The initiative seeks to levy a 3% tax on capital outflows, including currency, negotiable securities, and virtual assets, that lack productive compensation. An additional 2% tax would apply to transfers to low or zero-tax jurisdictions, totaling a 5% rate.

Kirchner stated the tax is intended to target “speculative outflows of currency” rather than daily transactions or productive activities, noting that Brazil utilizes a similar 3.5% rate. The proposal aims to generate significant revenue, with estimates ranging from US$1.9 billion to as much as $2.89 trillion.

The proposed distribution of funds allocates 60% to provinces and municipalities for infrastructure, health, education, and housing. The remaining 40% is earmarked equally at 10% each for health and disability, education, pensions, and medical care/medications through PAMI. The tax is designed to exclude local savings, documented imports, and investments where assets remain within Argentina. The initiative has faced criticism from opposition sectors and some within the peronist bloc regarding potential political use or the possibility of a presidential veto.

Entities

Máximo Kirchner · PAMI · Chamber of Deputies · Union por la Patria · Argentina

Timeline

  1. [POLITICS] 4 sources
    Máximo Kirchner proposes 3% tax on foreign capital transfers

    Deputy Máximo Kirchner proposed a 3% tax on speculative capital transfers abroad, aiming to raise US$1.9 billion for Argentine provinces, education, health, and pensions.

  2. [POLITICS] 34 sources
    Máximo Kirchner proposes International Capital Transfer Tax

    Deputy Máximo Kirchner has proposed the International Capital Transfer Tax (ITIC) in Argentina, a 3% levy on capital outflows to fund provinces, health, education, and pensions.

Sources

agenciasanluis.com · ahoradigital.net · arquitecturar.uy · asiesnuestravida.com.ar · barinoticias.com.ar · cuarto.com.ar · diariofirmat.com.ar · diariopampero.com · diariosanrafael.com.ar · elintransigente.com · elnorte.com.co · familyvoices.org · fm893.com.ar · fmpatagoniamadryn.com.ar · fuego24.com · hoytamaulipas.net · kijiji.ca · lacronicadebadajoz.elperiodicoextremadura.com · ladiaria.com.uy · ladiscusion.cl · limite42.com · lineasurnoticias.com.ar · lucesdelsiglo.com.mx · mejorinformado.com · norteonline.com.ar · noticiasdelbolson.com.ar · noticiaslainsuperable.com.ar · noticiasya.co · opinionpropia.com.ar · parlamentario.com · politicargentina.com · radioallen.cl · rionegro.com.ar · santafederf.com.ar · telecom.co.nz · tn.com.ar · tolhuinprimero.com