{"id":5345,"date":"2019-12-23T09:22:41","date_gmt":"2019-12-23T12:22:41","guid":{"rendered":"https:\/\/www.fdinternational.com\/dev\/?p=5345"},"modified":"2019-12-23T09:22:41","modified_gmt":"2019-12-23T12:22:41","slug":"buenos-aires-times-the-hottest-job-in-argentina","status":"publish","type":"post","link":"https:\/\/www.fdinternational.com\/dev\/fdi-en-los-medios\/buenos-aires-times-the-hottest-job-in-argentina\/","title":{"rendered":"BUENOS AIRES TIMES: The hottest job in Argentina?"},"content":{"rendered":"

Fecha<\/strong>: 23 de diciembre, 2019<\/em><\/p>\n

BUENOS AIRES TIMES: The hottest job in Argentina?<\/span><\/h2>\n
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Franco Reinson has never been busier, fielding calls and holding meetings in his office in downtown Buenos Aires. The wealth adviser can thank President Alberto Fernandez, who is making rich Argentines very nervous.<\/p>\n
\u00a0\u201cThey\u2019re afraid that the new government will be aggressive with its tax policies,\u201d said Reinson, the chief accounting officer at Amicorp\u2019s local subsidiary which specializes in organizing and administering trusts which have surged in popularity. Most of the firm\u2019s clients have just one request: help them protect the savings they\u2019ve stashed overseas.<\/div>\n
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\u00a0They have good reason to worry. Fernandez, a left-leaning populist, is bringing the country back to the days of the Peronists, the movement born in the 1950\u2018s under Juan Domingo Peron that favors social spending and local industry. In his first speech as president, he made it clear.<\/div>\n
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\u00a0\u201cIn order to eliminate hunger we will ask for greater solidarity from those who have more capacity to give it,\u201d Fernandez said on Dec. 10.<\/div>\n
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\u00a0Those simple words justify the concerns among affluent Argentines, according to economist Martin Tetaz.<\/div>\n

\u201cIt\u2019s more taxes on personal assets,\u201d Tetaz wrote on Twitter. \u201cIf he were talking about export taxes he would say \u2018those who produce most,\u2019 if he were talking about income taxes, he would say \u2018those who make the most.\u201d\u2019<\/p>\n

Argentines didn\u2019t have to wait long to see the first measures. Fernandez\u2019s cabinet chief, Santiago Cafiero, told La Nacion newspaper on Dec. 14 that a bill will be sent to Congress to outline tax policies which will include an increase on personal property tax and higher rates for those with assets abroad.<\/p>\n

Farmers have already gotten ahead of export tax increases by unloading as much of their wheat, soybean and corn crop before the new government took office. Last weekend, Argentina\u00a0confirmed\u00a0the rise in export taxes to fund new government\u2019s spending. At the same time, officials announced a so-called\u00a0tourism tax\u00a0will be imposed to charge Argentines an extra 30% to buy international air tickets, pay for their monthly Netflix subscriptions or use their credit cards outside the country among other transactions.<\/p>\n