The IMF wants a tax on large fortunes | I …

As part of the start of a global discussion on the contributions of big money to mitigating crises, the International Monetary Fund (IMF) has already played a token in favor of the initiative to charge the richest. Just a few days later, the United States had confidence that it would take a position in this regard with regard to the Group of 20. In Argentina, meanwhile, a similar tax has already been voted, approved by a parliamentary majority. and being collected.

The body that drives Kristalina Georgieva has declared herself “Very favorable” impose a global minimum tax on corporate income. Speaking at a press conference at the start of the IMF and World Bank spring meetings, IMF chief economist Gita Gopinath noted that governments face “a lot” of tax evasion. and money transferred to tax havens.

In this line he indicated that it is a subject of “great concern” for the IMF, because “it reduces the tax base on which governments can collect revenue and spend for social and economic needs”. “We are very supportive of a global minimum corporate income tax,” said Gopinath.

The influx of the United States

Monday, the US Secretary of the Treasury, Janet YellenHe said the country was working with the G20 countries “to agree on a minimum tax rate for businesses.” Together, we can use this global minimum tax to ensure that the economy thrives on more terms. fair for multinational companies, “said Yellen, a board Biden chose to impose a differential view of economics and strategy. Geopolitics, within possible parameters for the United States.

Asked about another administration proposal Joe Biden to raise U.S. corporate taxes from 21% to 28%, Gopinath said it was premature to comment on the possible impact of the measure. The IMF chief economist indicated that, on the contrary, the drastic reduction of this tax under the administration of Donald Trump (from 35% to 21%), did not lead to a significant jump in investments.

Naturally, the exit of the IMF at the front with a proposal in this direction, has to do with the support of the United States, the number one president of the organization. But there are other countries that have similar ideas and have spoken before, such as Angela Merkel’s Germany.

Argentina, witness case

The country was among the first to argue that, in the context of a pandemic, the need for the most disadvantaged sectors to help alleviate a complex and unprecedented situation in Argentina’s economic history. A scenario in which the quarantine lockdown forced operations to shut down and resulted in job loss and cuts in wages or tasks.

Thus, with a project by the government of Alberto Fernández, the law of solidarity and extraordinary contribution to great fortunes began to govern, approved at the end of 2020 in the context of the pandemic. The national government has extended the filing of the affidavit until April 16, and this way taxpayers affected by this law have more time to gather the supporting documents needed to determine the amount of their contribution.

This extension has been requested from AFIP by three chambers of commerce: the Argentine Industrial Union (UIA), the Argentine Chamber of Construction (CAMARCO) and the Argentine Chamber of Commerce (CAC), arguing that they needed time to collect the documentation. Beyond any doubt, it was a sign of the government’s intention to pay.

At the same time, there was a certain rebellion, for the moment very minor, of presentations of businessmen in front of the courts, claiming not to pay the tribute, which is envisaged for some 13,000 people who have a personal fortune exceeding 200 million pesos. A percentage that is not only lower relative to the population, but also negligible if measured across the entire business community.