Revealing 21% of GDP in Hidden Assets
Despite substantial offshore tax evasion, Argentines disclosed assets worth 21 percent of GDP under a tax amnesty in 2016. This paper studies how enforcement initiatives impact individuals' tax behavior, tax progressivity, and revenue collection. Offshore tax evasion is concentrated among the w...
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| creator | Londoño-Vélez, Juliana Tortarolo, Dario |
| description | Despite substantial offshore tax
evasion, Argentines disclosed assets worth 21 percent of GDP
under a tax amnesty in 2016. This paper studies how
enforcement initiatives impact individuals' tax
behavior, tax progressivity, and revenue collection.
Offshore tax evasion is concentrated among the wealthiest
0.1 percent of adults. Tax compliance improved, expanding
the tax bases for both wealth tax and capital income tax,
especially at the top. The subsequent tax hike on foreign
assets in 2019 boosted tax progressivity, raising the
effective tax rate for the wealthiest 0.1 percent of adults,
and established Argentina's wealth tax as one of the
most successful globally in revenue generation. |
| format | Article |
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evasion, Argentines disclosed assets worth 21 percent of GDP
under a tax amnesty in 2016. This paper studies how
enforcement initiatives impact individuals' tax
behavior, tax progressivity, and revenue collection.
Offshore tax evasion is concentrated among the wealthiest
0.1 percent of adults. Tax compliance improved, expanding
the tax bases for both wealth tax and capital income tax,
especially at the top. The subsequent tax hike on foreign
assets in 2019 boosted tax progressivity, raising the
effective tax rate for the wealthiest 0.1 percent of adults,
and established Argentina's wealth tax as one of the
most successful globally in revenue generation.</description><language>eng</language><publisher>World Bank, Washington, DC</publisher><subject>AMNESTIES ; ENFORCEMENT ; HIDDEN ASSETS ; OFFSHORE WEALTH ; TAX COLLECTION POLICY ; TAX COMPLIANCE ; TAX EVASION</subject><creationdate>2023-12</creationdate><rights>CC BY 3.0 IGO https://creativecommons.org/licenses/by/3.0/igo/ World Bank</rights><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>780,784,18981</link.rule.ids><linktorsrc>$$Uhttps://hdl.handle.net/10986/40758$$EView_record_in_World_Bank$$FView_record_in_$$GWorld_Bank$$Hfree_for_read</linktorsrc></links><search><creatorcontrib>Londoño-Vélez, Juliana</creatorcontrib><creatorcontrib>Tortarolo, Dario</creatorcontrib><title>Revealing 21% of GDP in Hidden Assets</title><description>Despite substantial offshore tax
evasion, Argentines disclosed assets worth 21 percent of GDP
under a tax amnesty in 2016. This paper studies how
enforcement initiatives impact individuals' tax
behavior, tax progressivity, and revenue collection.
Offshore tax evasion is concentrated among the wealthiest
0.1 percent of adults. Tax compliance improved, expanding
the tax bases for both wealth tax and capital income tax,
especially at the top. The subsequent tax hike on foreign
assets in 2019 boosted tax progressivity, raising the
effective tax rate for the wealthiest 0.1 percent of adults,
and established Argentina's wealth tax as one of the
most successful globally in revenue generation.</description><subject>AMNESTIES</subject><subject>ENFORCEMENT</subject><subject>HIDDEN ASSETS</subject><subject>OFFSHORE WEALTH</subject><subject>TAX COLLECTION POLICY</subject><subject>TAX COMPLIANCE</subject><subject>TAX EVASION</subject><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><sourceid>VO9</sourceid><recordid>eNrjZFANSi1LTczJzEtXMDJUVchPU3B3CVDIzFPwyExJSc1TcCwuTi0p5mFgTUvMKU7lhdLcDCZuriHOHrrl-UU5KUmJednx-QWpedl5-eU5qSnpqUWpBfnFmSX5RZXxhgaWFmbxJgbmphbGZGoDAByuNis</recordid><startdate>20231219</startdate><enddate>20231219</enddate><creator>Londoño-Vélez, Juliana</creator><creator>Tortarolo, Dario</creator><general>World Bank, Washington, DC</general><scope>VO9</scope></search><sort><creationdate>20231219</creationdate><title>Revealing 21% of GDP in Hidden Assets</title><author>Londoño-Vélez, Juliana ; Tortarolo, Dario</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-worldbank_openknowledgerepository_10986_407583</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>AMNESTIES</topic><topic>ENFORCEMENT</topic><topic>HIDDEN ASSETS</topic><topic>OFFSHORE WEALTH</topic><topic>TAX COLLECTION POLICY</topic><topic>TAX COMPLIANCE</topic><topic>TAX EVASION</topic><toplevel>online_resources</toplevel><creatorcontrib>Londoño-Vélez, Juliana</creatorcontrib><creatorcontrib>Tortarolo, Dario</creatorcontrib><collection>Open Knowledge Repository</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext_linktorsrc</fulltext></delivery><addata><au>Londoño-Vélez, Juliana</au><au>Tortarolo, Dario</au><format>book</format><genre>document</genre><ristype>GEN</ristype><atitle>Revealing 21% of GDP in Hidden Assets</atitle><date>2023-12-19</date><risdate>2023</risdate><abstract>Despite substantial offshore tax
evasion, Argentines disclosed assets worth 21 percent of GDP
under a tax amnesty in 2016. This paper studies how
enforcement initiatives impact individuals' tax
behavior, tax progressivity, and revenue collection.
Offshore tax evasion is concentrated among the wealthiest
0.1 percent of adults. Tax compliance improved, expanding
the tax bases for both wealth tax and capital income tax,
especially at the top. The subsequent tax hike on foreign
assets in 2019 boosted tax progressivity, raising the
effective tax rate for the wealthiest 0.1 percent of adults,
and established Argentina's wealth tax as one of the
most successful globally in revenue generation.</abstract><pub>World Bank, Washington, DC</pub><oa>free_for_read</oa></addata></record> |
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| language | eng |
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| subjects | AMNESTIES ENFORCEMENT HIDDEN ASSETS OFFSHORE WEALTH TAX COLLECTION POLICY TAX COMPLIANCE TAX EVASION |
| title | Revealing 21% of GDP in Hidden Assets |
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