A phrase of Treasury Secretary, Scott Besent, linked to the validity of retentions zero to agriculture on Thursday generated some doubts Among cereal companies, which are those that effectively pay export rights. But with the hours the concern was clear from the Ministry of Economy: When AU $ 7,000 million liquidations is reached or on October 31, the tax exemption is terminated.
This was indicated to the sources of the business sector After a talk they had with the authorities of the Palace of Finance in relation to the announcement made by the US government of a rescue package for Argentina of some some U $20,000 million.
Among the accumulation of advertisements, such as the coin swap, a “stand-by” type loan and purchase of Argentine bonds, the head of the American treasure said: “We collaborate with the Argentine Government to end the tax exemption to commodities producers who turn currencies. ”
Strictly The measure launched 48 hours ago by the Palace of Finance had a limited and accurate duration. When reached to the established limit or reached the determined date, retentions are restored. It is not clear yet if it returns to the same levels of aliquots before exemption or if there can be new aliquots.
Besent’s statements generated confusion, because Some thought it could imply a permanent elimination of the tax that taxes the field.
The director of Center for International Trade of the 21st Century, Miguel Ponce, He explained to the field that the officials of the official would have as its objective to establish that Argentina re -collects taxes “not to lose collection and thereby buy dollars for the treasure ”. The collection of the withholdings provide about $ 9 billion a year.
It should be remembered that the announcement of Besent is, in a way, conditioned to the result of the legislative elections. Before the elections, any dollar would be arriving, But the announcement itself, by the dimensioncan dissuade investors who could bet against Argentine bonds.
Therefore, it is also supposed to overcome the electoral period, seeing the political result and the financial statement, Then a more precise amount or conditions on the rescue to the government of Javier Milei are defined. It would be necessary to see if with the announcement it only reaches so that freedom progresses can recover ground and go to an election where it triumphs at the national level with important margins.
Héctor Torres, former director for Argentina against the IMF, He pointed out in this regard: “One of Besent’s most important phrases is that we are going to work after the elections, immediately after the elections. That in good romance means, win the elections first and then we talk about silver, ”he said.
Torres indicated “this will be a loan that will serve, in principle, to pay the debt and obviously if we cannot take money from the exchange market, which must be the reasonable objective of this, It is as if the US government said, I am behind Argentina. “
Source: Ambito
