Revealing 21 per cent of GDP in hidden assets: Evidence from Argentina's tax amnesties

Abstract

This study has been prepared within the UNU-WIDER project Detecting and countering illicit financial flows that is implemented in collaboration with the University of Copenhagen. The project is part of the Domestic Revenue Mobilization programme, which is financed through specific contributions by the Norwegian Agency for Development Cooperation (Norad).

Homes Incorporated: Offshore Ownership of Real Estate in the U.K

“…This finding also resonates with the well-documented pattern that offshore financial assets are highly concentrated in the hands of the wealthiest(Alstadsaeter et al, 2019;Londoño-Vélez and Ávila-Mahecha, 2021;Guyton et al, 2021;Leenders et al, 2022;Guyton et al, 2022;Londoño-Vélez and Tortarolo, 2022).2 Existing studies have identified round-tripping in the context of financial investment(Hanlon et al, 2015;Damgaard et al, 2019).…”

Lost in Information: National Implementation of Global Tax Agreements

“…showing mixed results for the CRS effectiveness in reducing offshore tax evasion (Menkhoff and Miethe, 2019;Casi et al, 2020;Langenmayr and Zyska, 2023;Bomare and Herry, 2022;O'Reilly et al, 2019;Baselgia, 2023;Londoño Vélez and Tortarolo, 2022). We go beyond aggregated average effects and show that substantial differences in local CRS implementation exist and can shape the effectiveness of the agreement at the national level.…”

“…Yet some studies do, however, show effectiveness (O'Reilly et al, 2019), especially in conjunction with amnesties (Baselgia, 2023;Londoño Vélez and Tortarolo, 2022).…”

Progressive taxation in the face of inflation and instability: lessons from Argentina

“…

Argentina's wealth tax is levied on gross wealth, rather than net wealth as advocated for by Zucman, and exempts savings accounts, deposits, and holdings of government bonds (Londoño-Vélez and Tortarolo, 2022).This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

…”

“…Argentina's wealth tax is levied on gross wealth, rather than net wealth as advocated for by Zucman, and exempts savings accounts, deposits, and holdings of government bonds (Londoño-Vélez and Tortarolo, 2022).…”