In the fiscal consensus, it had been agreed to reverse this situation. A five-year timetable had been made. If it had been fulfilled, currently all productive activities and commerce would have stopped paying this tax, which would only remain for the financial sector. And Real Estate would have become the new pillar of the provinces’ own income
The tax expert Sebastián Domínguez, partner of the SDC study, pointed out that “the problem is that since 2018, OFEVI has not advanced in determining the procedures and methodologies to determine the tax valuations of real estate”.
“In 2022, the Government made a commitment with the IMF to give legal status to OFEVI to grant it the legal framework, ecoeconomic and financial necessary to carry out its responsibilities and define the procedures and methodologies for the application of the new fiscal valuations gradually, with a first effect for fiscal year 2022 estimated at 0.1% of GDP and 0, An additional 2% in subsequent years,” said Domínguez.
The tax expert said that “the Government stated that these goals were realistic based on the weight of real estate located in the country in the total tax base of the Tax on Personal Assets and the intended effect of the increases in tax valuations so that approximate market values.
“The increase in tax valuations will basically have an effect on the personal property tax, on the provincial and CABA real estate tax. and in municipal rates such as the ABL in those municipalities that take that basis to determine it, “said the tax expert.
Source: Ambito
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