Argentina Bill Targets Tax Evasion to Pay Nation’s IMF Debt

Argentineans with undeclared assets abroad would be required to pay 20% of their value in taxes under legislation presented to Congress by government supporters. The bill aims to raise billions of U.S. dollars to help the South American country pay off its debt to the International Monetary Fund.

If asset holders didn’t pay within six months of the law coming into force, the rate would rise to 35% and to 50% if tax authority AFIP had already begun an investigation.

• The bill also would give AFIP the power to assume that ...