On this occasion, with the signature of the President, the Chief of Staff, Juan Manzur, and the Minister of Economy, Martín Guzmán, a new postponement was confirmed and it was announced that the increases would be applied only “from June 1, 2022, inclusive”.
In the recitals, the Government indicated that the updates of these taxes, corresponding to the first, second and third calendar quarters of the year 2021 for unleaded gasoline, virgin gasoline and diesel, “have been successively deferred until various dates”. In addition, it was noted that “the National Executive Branch has worked on a tax reform project that is the subject of this measure.”
The initiative carried out by the Executive Branch is about the modification of Law 23,966 on Taxes on Liquid Fuels (ICL) to establish the tax as percentage rates of the price of liquid fuels and not, as a quarterly update for inflation. The bill is already in Congress.
According to the analysis of the consulting firm Energy Consilium, if the tax increase had been applied, it would imply an increase of 7.1% in the price of diesel and 9.6% in gasoline in the City of Buenos Aires. This increase would mean a strong impact on inflation, which remains above 3%. According to the latest Survey of Market Expectations (REM) of the Central Bank, an inflation of 3.7% is expected for January; the same figure for February; 4% for March and also April; 3.6% for May and 3.5% for June.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
