In Milei We Trust@InMilei
🇦🇷 Argentina: Phasing Down Under Milei
Argentina’s wealth tax, the Impuesto sobre los Bienes Personales (Personal Assets Tax), applies to resident individuals on their worldwide net assets and to non-residents on their Argentine-situated assets.
The current regime is being significantly reduced under President Javier Milei’s 2024 reform package (Ley Bases). The highest bracket of the rate table is removed each fiscal year.
Rates for 2025 range from 0.5% to 1.1%, down from a top rate of 1.5% in 2023. By 2027, the only rate will be 0.25%.
Milei’s administration also introduced a voluntary prepayment scheme (REIBP) allowing taxpayers to pay a reduced rate of 0.75% on their 2023 asset base to cover wealth tax obligations for the entire 2023-2027 period. The broader objective is a phased elimination of the tax, consistent with the administration’s libertarian economic agenda.
For foreign assets held by residents, a higher rate schedule has historically applied (up to 2.25%), though the 2024 reforms equalized the treatment of domestic and foreign assets.
Argentina’s approach represents the clearest current example of a country actively dismantling its wealth tax. Whether the trajectory holds through future administrations remains an open question.
