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Government Proposes 15% Tax on ‘Unexpected Profits’

ARGENTINA
  • Argentina President Alberto Fernandez unveiled legislation on Monday to slap a 15% tax on companies’ extraordinary profits, a move seen as appeasing the most radical left-wing members of his divided coalition even at the risk of irritating business.
  • Companies subject to the tax:
  • Must have net taxable profit of at least 1 billion pesos ($8.3 million) and comply with one of two conditions:
    • Profit margin in 2022 must be above 10%
    • Profit margins must have increased 20% or more between 2022 and 2021
  • Guzman didn’t say which sectors the measure would apply to.

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