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Argentina pushes ahead controversial tax amnesty

The bill is aimed at bringing foreign currency to Argentina, but critics say it amounts to impunity

In a bid to slow the country’s outflow of dollars, Argentina’s Congress passed a controversial tax amnesty on Thursday. That bill will pardon tax dodgers for undeclared income if they invest the money in the domestic real estate and oil and gas industries. With this measure, the government hopes to recapture some of the $160-$200 billion the government claims Argentines do not declare, and funnel it toward investment-hungry industries to revive the country’s slow economic performance. Argentina’s economy grew 1.9 percent in 2012 after enjoying much stronger growth for most of the past decade. However, the amnesty could have an effect on the rule of law in the country, say experts. 

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