Cancel 90% of national taxes! The path of reform for the Argentine president has just begun
丽颜美容院郧
发表于 2024-12-13 17:31:47
1119
0
0
Argentine President Javier Milei delivered a televised speech on the first anniversary of his inauguration, announcing a package of political, fiscal, and economic policies, including the cancellation of 90% of current national taxes and plans to lift currency controls by 2025.
Miller's speech marks a complete shift in the country's policy direction for decades, aimed at attracting foreign investors who have long avoided the Argentine market.
Cancel 90% of taxes
One of the major highlights of Miller's speech was that Argentina will promote significant tax cuts next year. Miller announced the cancellation of 90% of national taxes, aiming to promote business activities and reduce the underground economy that develops under heavy taxes.
In addition, Millet also promised to allow local governments to independently manage taxes and restore their fiscal autonomy. He stated that next year, he will see real tax competition among provinces to see who can bring in more investment.
Millet's package of reforms also includes the lifting of currency controls by 2025, allowing US dollar transactions to be used for all businesses previously only allowed for Argentine peso transactions, and emphasizing that from 2025 onwards, currency controls "will end forever".
It is reported that the current currency control has been implemented since 2019, stipulating that Argentines can legally purchase $200 per month at banks. Miller said, "(Removing currency controls) means that every Argentine can buy, sell, and charge in US dollars or any other currency, but taxes will still be paid in pesos
In terms of international trade, Miller's team has secured $11.8 billion in new investment commitments in the mining, energy, and infrastructure sectors. These commitments indicate that people are increasingly confident in the direction of Argentina's economy, although the challenges remain significant.
In addition, Millet is also seeking to negotiate a free trade agreement with the incoming Trump administration. This move may open up new markets for Argentina's exports and bring in more foreign investment.
Obstacles ahead
However, Miller's path to reform faces serious obstacles. During the year in which Millais was in power, his government reduced public spending by nearly one-third and abolished controls and subsidies on public transportation, heating costs, and video prices, causing more people to face economic difficulties and 57% of Argentinians to fall into poverty.
Millet's approach is widely known as' shock therapy ', and Millet believes that by removing obstacles that hinder the Argentine economy, short-term pain will lead to sustainable growth.
The fact is that over the past year, the government's tightening measures have reflected its positive side, such as a decrease in inflation and relatively stable prices in recent months.
According to the latest poll, about 56% of Argentinians hold a positive attitude towards President Millet. Although his statements during the campaign were more radical, his policies have become much more rational and pragmatic since he took office.
After Miller's latest national speech, Federico Sturzenegger, the Minister of National Transformation of Argentina, said, "In order to reduce the tax burden by 90%, we must cut spending by 90%. Currently, we have already cut by 30%, which is historic
CandyLake.com is an information publishing platform and only provides information storage space services.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
You may like
- Big news suddenly spreads on the super track! Argentina will increase lithium production by a significant 79% in annual production capacity
- Argentina's lithium production capacity is expected to skyrocket by 80%, industry response: planned expansion has limited overall impact
- FedEx appoints Ms. Xu Baoyan as the President of China
- Has President Trump's position stabilized? Capvision: Trump 2.0 will lead to the bursting of the US stock foam
- Alibaba International Station President Zhang Kuo: Foreign trade is moving towards comprehensive AI technology
- Trump wins presidential election, Republican controls Senate
- Dialogue with Yu Junrui, President of Baozun E-commerce: How can international brands "easily" land in China?
- Musk once again supports Trump: The Federal Reserve should obey the President!
- Yin Shiming joins Google Cloud as President of Greater China Region
- Gu Lei, former Vice President of BAIC Group, joins Faraday Future
-
"푸틴은 방금 통화팽창이 걱정스럽다고 인정했지만 뜻밖에 금리인상을 중지했다."현지시간으로 금요일 (12월 20일), 로씨야중앙은행이 기준금리를 21% 로 유지한다고 선포했는데 이는 시장을 놀라게 했다. 투자자들 ...
- 瑜珈
- 어제 11:39
- Up
- Down
- Reply
- Favorite
-
증권시보에 따르면 골드만삭스는 폭스(FOX) 목표주가를 51달러에서 57달러로 올리고 매수 등급을 유지했다. 여러 기관은 폭스사에 대해 낙관적이다. UBS는 한 보고서에서 기록적인 정치 주기와 강력한 스포츠 경기 ...
- 度素告
- 그저께 09:27
- Up
- Down
- Reply
- Favorite
-
극월폭뢰 이후 파산이나 경영난에 빠진 자동차 제조 신세력 공장은 위마, 고합, 나타, 극월 등 4개로 바뀌었다. 이 중 두 곳은 모두 바이두가 거금을 들여 투자한 것으로 각각 위마와 극월이다. 초기 투자한 울라이 ...
- 空港训港j
- 3 일전
- Up
- Down
- Reply
- Favorite
-
애플의 중국 내 AI 협력자는 변할 수 있다.최근 애플이 텐센트와 바이트댄스와 양사의 AI 모델을 중국에서 판매되는 아이폰에 통합하는 협상을 벌이고 있다는 소식이 전해졌지만, 협상은 여전히 초기 단계다.이 소 ...
- 度素告
- 어제 10:11
- Up
- Down
- Reply
- Favorite