Bloomberg Tax
May 22, 2020, 12:00 AM

Millionaires Target of Taxation in Chile, Elsewhere Amid Virus

Tom Azzopardi
Tom Azzopardi
Freelance Correspondent

Chile has joined the ranks of Latin American countries where polticians are pushing to tax the wealthiest residents as governments grapple with the soaring costs of the coronavirus pandemic.

Politicians in Brazil, Argentina, Peru, and Mexico all are debating similar measures.

The economic nosedive triggered by the health crisis has left many governments desperate for cash in the form of taxes. The measures are not limited to South America: European nations, including Spain, have also discussed targeting the wealthy. But Latin America stands out, with global organizations, including the International Monetary Fund, pointing to pronounced inequality and low levels ...