Source: Christian Science Monitor
by staff
“In Argentina, it is called ‘the national sport’. It is the game of tax dodging in which individuals and companies play cat and mouse with tax collectors. In July, the government decided to change the rules. It announced an amnesty for citizens who declare unreported wealth up to $100,000. Since that offer of forgiveness, banks have opened more than 100,000 new accounts tied to the amnesty. Total deposits now exceed $1.4 billion in previously undisclosed assets. The tax pardon is only part of an attempt by a government that swept into power less than a year ago to uproot corruption at many levels of society. Yet the amnesty could have one immediate effect. If honesty becomes a norm and more people come clean, it brings cash quickly into the economy.” (09/11/24)
https://www.csmonitor.com/Commentary/the-monitors-view/2024/0911/Honesty-as-income-in-Argentina