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Argentine Government Announces Bill for Introduction of Windfall Tax on Unexpected Income

|Proposed Changes|Argentina
Argentina

The Argentine government has announced a bill for the introduction of a windfall tax on "unexpected income" at a rate of 15%. The tax, which must be approved in the National Congress, would be levied on companies with net taxable income or accounting income greater than ARS 1 billion that have either a profit margin greater than 10% in 2022 or an increase in their profit margin by at least 20% in 2022 compared to 2021. The 15% rate will be levied on the unexpected income amount, which is equ…

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