Criticism of the new wealth tax: citizens would bear the cost
The Government announced that it will revive the wealth tax for companies with assets exceeding 10,400 million pesos, as part of the measures within the economic emergency it is preparing due to the winter wave. According to experts, this decision could have negative effects on investment and employment.
TL;DR
- The government will revive the wealth tax for companies with assets exceeding 10.4 billion pesos.
- This measure is part of the economic emergency preparation for the winter wave.
- Experts warn of negative effects on investment and employment.
- The tax rate is 0.5% for all legal entities and 1.6% for the financial, mining, and energy sectors.
- Citizens may end up paying the tax through increased interest rates or service charges.
- Potential consequences include job destruction and price increases passed on to consumers.
- Companies must pay the tax in two installments: April 1st and May 4th.