Peruvian Presidential Candidate Proposes Tax On Wealth Made During Pandemic

LIMA (UrduPoint News / Sputnik - 08th April, 2021) Peruvian presidential candidate Ollanta Humala told Sputnik on Wednesday that he supports increasing taxes on wealth made during the pandemic.

"There should be significant changes made to the taxation system ... We propose introducing a law on wealth accumulated over the pandemic years. COVID-19 did not impact everyone equally," Humala, who already served a presidential term between 2011 and 2016, said.

The politician explained that numerous businesses profited significantly over the course of the pandemic, notably private clinics, banks, labs and pharmaceutical companies, while businesses in other sectors, such as industry and services, suffered.

"To revitalize the economy, we need a temporary tax on the rich, which is being introduced in many countries across the world. We estimate that we can generate revenue amounting to one percent of GDP with such a tax," he said.

Peru is heading into a presidential election on Sunday, April 11. A total of 18 candidates are running.