Court stops collection of wealth tax for universities and companies in liquidation
The Constitutional Court made a decision that gives a break to a specific sector of the economy. Although the controversial wealth tax created...
TL;DR
- The Constitutional Court has suspended the second installment of the wealth tax for non-profit entities and companies in liquidation.
- This suspension will last until the Court makes a final decision on the tax's constitutionality.
- The decision was approved by a 6-3 vote, with three magistrates opposing the pause.
- The wealth tax has faced low collection rates, with only 29% of the projected amount collected in the first installment.
- Reasons for low collection include legal tax planning, fear of the tax being declared unconstitutional, and doubts about the government's authority to implement it via economic emergency.
- The suspension deepens legal uncertainty surrounding the wealth tax and its impact on businesses and government revenue.