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Argentina’s Congress has approved a one-off levy on the super-rich in a bid to cover the costs of the coronavirus pandemic.
The vote passed by 42 to 26 votes late on Friday night.
Officially called the ‘Law on the Solidarity and Extraordinary Contribution of Great Fortunes,’ it has been nicknamed the ‘millionaire’s tax’ by Argentine media.
The wealth tax will be paid by those who have assets worth over 200 million ($2.5 million). Only the top 0.8% of the population– about 12,000 people – will be affected, according to the BBC.
Argentina’s government is hoping to collect about details ⇒
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