Revealing 21% of GDP in Hidden Assets

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Tác giả: Juliana Londoño-Vélez

Ngôn ngữ: eng

Ký hiệu phân loại: 339.2 Distribution of income and wealth

Thông tin xuất bản: World Bank, Washington, DC, 2023

Mô tả vật lý:

Bộ sưu tập: Tài liệu truy cập mở

ID: 327675

Despite substantial offshore tax evasion, Argentines disclosed assets worth 21 percent of GDP under a tax amnesty in 2016. This paper studies how enforcement initiatives impact individuals' tax behavior, tax progressivity, and revenue collection. Offshore tax evasion is concentrated among the wealthiest 0.1 percent of adults. Tax compliance improved, expanding the tax bases for both wealth tax and capital income tax, especially at the top. The subsequent tax hike on foreign assets in 2019 boosted tax progressivity, raising the effective tax rate for the wealthiest 0.1 percent of adults, and established Argentina's wealth tax as one of the most successful globally in revenue generation.
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