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Mix-Ansicht- Argentina Prints Money as People Refuse to Pay Taxes - Tofir, 27.02.2002, 00:49
Argentina Prints Money as People Refuse to Pay Taxes
Argentina Prints Money as People Refuse to Pay Taxes
By Daniel Helft
Buenos Aires, Feb. 26 (Bloomberg) -- Argentines angry at the government for confiscating their savings have found a new way to protest: refusing to pay taxes.
``People feel they have the right to evade, lie, hide from a state that stole from them,'' said Gabriel Coqueugniot, executive director of Banco San Luis SA, a regional bank that has 230 million pesos ($109 million) in assets.
Argentina expects tax collection to fall a record 25 percent this month from February 2001, or by 1 billion pesos ($500 million), as a recession cuts receipts and evasion grows.
Individuals are refusing to pay property and automotive taxes, and small and medium-sized businesses are holding back value added tax and income taxes, analysts said.
Rather than trying to crack down on evaders, the government plans to print as much as 1 billion pesos this month to make up for the shortfall and cover February bills. The increase in peso notes may weaken the currency, which has already lost half its value this year, and accelerate inflation, analysts said….
...und wenn die Druckerpressen erst mal laufen....
Gruss
tofir
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