Argentina : Covid TAX for the Rich !

A one-off tax on Argentina's richest people comes into effect to help pay for medical supplies

and relief for businesses struggling due to Covid-19.

Those with assets of more than 200 million pesos ($2.3m; £1.67m) will have to pay about 3%

on assets declared within the country and over 5% on assets held abroad.

It will apply to around 12,000 people.

Senators passed the one-off levy - dubbed the "millionaires' tax"

- by 42 votes to 26 in December !

Almost 40% of the country's population lives under the poverty line

while the unemployment rate sits at 11%.

"A tax on the excess profits earned by corporations during the coronavirus pandemic :

could generate $104 billion - enough to provide unemployment protection for all workers

and financial support for all children and elderly people in the poorest countries"

Argentina has almost two million confirmed cases and more than 47,000 deaths from the virus.