Overnight reports: Argentina's bold tax reforms aim to unleash hidden billions

The Argentine government has announced new measures aimed at encouraging citizens to spend undeclared savings within the country. It is estimated that Argentinians hold over 200 billion dollars (275 billion Canadian dollars) in cash and in foreign accounts. - Your dollars, your decision. What’s yours is yours, not the state’s. You can use them however you want, without having to prove where you got them from – stated the president's spokesman Manuel Adorni. The plan includes easing rules on tax control, which is expected to impact the property market. President Javier Milei, who won the election in 2023, aims to dollarise the economy and bring hundreds of billions of dollars into circulation. Last year, over 22 billion dollars (30 billion Canadian dollars) were deposited in banks under the "blanqueo" program. Economy Minister Luis Caputo emphasises that most Argentinians were burdened with excessive taxes. However, there are concerns that the plan may facilitate money laundering. - It sounds like an invitation not to pay taxes – commented analyst Ignacio Labaqui.

According to Italian media, the incident occurred on Thursday afternoon on Venice's main canal, in front of numerous people gathered on the shore and passengers of other boats who recorded the event. During the cruise, the tourists decided to change places and gathered in one spot of the gondola to take a group photo. As a result, the boat lost its balance, and they all fell into the water. The gondola was swept away by the current but was managed to be stopped nearby. Unfortunately, it is damaged and requires repair.

A tragic plane crash occurred in San Diego involving a Cessna 550. Two people were killed, and several homes were damaged. The plane crashed in the densely populated Murphy Canyon area, prompting the evacuation of at least 100 people. The Federal Aviation Administration reported that the plane was flying from the small Colonel James Jabara Airport in Wichita, Kansas. You can read more about it here.

The Court of Bosnia and Herzegovina has sentenced Vojin Pavlovic, the head of the pro-Russian association "Eastern Alternative of the Republic of Srpska", to two and a half years in prison for denying the genocide in Srebrenica and glorifying war criminal Ratko Mladić. This is the first such verdict in the country’s history. Judge Goran Radević emphasised that this is a turning point in the judicial practice of Bosnia and Herzegovina. "The court is sending a clear message that genocide and war crimes are facts established by international and national courts," said the judge.

The Pentagon plans to relocate about 4,500 soldiers from South Korea to Guam and other locations in the Indo-Pacific region. This is part of a review of the policy towards North Korea. The decision on the number of troops has not yet been finalised, and the Pentagon emphasises that this is only one of the options. In April, US military commanders warned against reducing forces in Korea, arguing that it would weaken the USA's capabilities in potential conflicts with North Korea, China, or Russia. You can read more about it here.