The Argentine Government wants companies that obtain "an unexpected income" during 2022 to pay more to the treasury.
Legislation for this was put forward to its Congress on 6 June that levies an extra 15% of income tax on those companies with extra earnings of more than ARS1,000m ($8m) in 2022.
The list will include those companies that benefit from the collapse of the international prices of hydrocarbons and food that the war in Ukraine produced.
The goal is to raise ARS200,000m in 2023, which the Government said would go to the social aid budget.
According to local media reports the president, Alberto Fernández, presented it together with his Minister of Economy, Martín Guzmán, at the Bicentennial Museum.
"This war subjects us to two realities," said Fernández, "that millions of human beings are at risk and that very few gain a lot from the effects of this war. And that is the immorality and indecency that we cannot allow from politics and from the management of the State."
It is expected that the tax would apply to a maximum of 1% of companies (around 400), according to the Government.
The proposed tax would also help the government to meet the requirements set out by the International Monetary Fund, which requires that Argentina's fiscal deficit stands at 1.9% by 2023.
If enacted, the tax would apply to company profits from the date of enactment for one calendar year.
