Argentine Bill Raising Top Corporate Tax Rate Heads to President

Argentina proposes lifting its top corporate income tax rate to 35%, from 30%, under legislation approved Wednesday by the country’s Senate.

The increase, approved in a 36-26 vote, would apply to businesses with annual profits of more than ARS 50 million ($528,000). The bill now heads to President Alberto Fernández for his signature.

• Under the bill, the rate for companies with annual profits of ARS 5 million or less would fall to 25% from 30%, while the rate for those earning between ARS 5 million and ARS 50 million would remain at 30%.
• The legislation would also freeze ...