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Cars: what the “luxury” tax will look like from June

Cars: what the “luxury” tax will look like from June

At the beginning of May, the Government ordered the update of the tax base of the so-called “luxury” tax for the cars 0km. The first scale went from $19,826,151 to $26,230,344 wholesale price (without VAT or the commission margin of factories and importers).

This way, The vehicles affected by this tax surcharge became those with a public value of more than $37,300,000.

The surprise was that the adjustment would be in effect for a month and not for a quarter as had been happening since the change introduced by law in 2016.

The AFIP resolution that was known at the end of April established that the validity of these values ​​was until May 31. Therefore, the expectation in the market was focused on what was going to happen starting in June.

As far as he could know Ambit, This monthly adjustment had to do with a schedule alteration that occurred in January.

At that time, due to the high inflation that was recorded in December, it was decided to advance to that month the adjustment of the tax base that had to be carried out in March. Due to the price jump that automobile companies had to make, the ceiling of the “luxury” tax was very low and almost all models were going to be covered by the tax.

This caused, for the record, the departure from the scheme of quarterly deadlines in which the tax must be adjusted. The same did not happen for other items such as aircraft, boats and motorcycles. These continued with the normal schedule.

For this reason, at the end of April it was established that the validity was for one month, until May 31.

But this does not mean that starting in June there will be a new increase in the tax base.

In June a new resolution would be issued to extend the validity of the current base

According to business sources consulted, the one-month period was to connect, once again, with the quarterly adjustments.

Starting in June, a new resolution would be issued to extend the validity of the current base, but it will not set a new increase. It would be for another month and in July that practice would be repeated.

“In June nothing changes. We return to the quarterly adjustment to close the second quarter. With the Wholesale Price Index for cars, for April, May and June, which will be known in mid-July, the new base will begin to take effect from August 1,” They explained from the automotive sector.

Source: Ambito

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