Milei courts hidden ‘mattress dollars’ with plan to ease tax rules

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Financial Times 17h ago

Milei courts hidden ‘mattress dollars’ with plan to ease tax rules - Financial Times

Quick Summary:

The country’s penchant for hiding dollars has many roots, including several episodes in the 1990s and 2000s where the government abruptly restricted access to savings, and tax policies that have swung wildly from one administration to the next.

The libertarian president is set to unveil reforms in the coming days to sway what he calls the “heroes” who stowed away undeclared US dollars in order to escape a volatile peso and discredited banks and governments.

Javier Milei is preparing to relax Argentina’s elaborate curbs on tax evasion in a bid to coax billions of dollars of hidden savings back into the regular economy.