Tax amnesty in Argentina yields revenue of over $5 bn to state budget

About $90 billion of assets have been declared by Argentines as the result of a new tax amnesty law, Argentina's recently fired finance minister, Alfonso Prat-Gay, announced at his final press conference.

Even better: Argentina has already collected $5.2 billion in fees related to registering the previously undisclosed assets.

"It's good news and a great step forward," Claudio Zuchovicki, an Argentine economist, told CNN Wednesday.

Argentina could really use that money. It's in a recession as President Mauricio Macri tries to turn around South America's second biggest economy after 12 years of populist rule left the nation's finances in bad shape.

More at CNN.

Lasă un comentariu