Abstract
Argentina’s 2016 tax amnesty led to the disclosure of hidden assets totaling 21 % of GDP—an exceptionally large amount, concentrated offshore and among the wealthiest 0.1 %. We examine how this enforcement initiative affected taxpayer behavior, tax progressivity, and revenue. Compliance improved—especially among high-wealth individuals—expanding the bases of both the wealth and capital income taxes. A subsequent tax hike on foreign assets further enhanced progressivity and raised effective tax rates on the top 0.1 %, generating nearly 0.8 % of GDP in wealth tax revenue—one of the highest yields globally. We discuss why, despite prior failed amnesties, Argentina’s 2016 policy package proved unusually effective.