The initiative establishes a set of incentive measures aimed at new investment projects and in its foundations it is found that it will generate increased production, exports and employment in terminals and auto parts companies, in order to add value from industrial processes.
Also, benefits for automotive investments are contemplatedsuch as the early return of the Value Added Tax (VAT), since it establishes that the return term will be reduced from six to three years and, in the case of the amortization of capital goods, from five to three years.
The rule, in turn, creates two new entities: a program to promote new investments and the Mobility Institute. The first of the entities includes both capital investments and infrastructure works and benefits both foreign and national terminals.
The second axis creates an institute whose purpose is to coordinate the different links of the automotive value chain with the public sector, that of the workers and that of technological innovation.
In this sense, the president of the Industry Commission, Roberto Basualdo, an opponent from San Juan, mentioned that currently, in order to approve safety standards for a vehicle, “it must be taken outside the country” and stressed that “this institute will serve to that we homologate it here”. “This law has three benefits: accelerated depreciation, VAT recovery and the elimination of withholdings. Of course, the counterparty must be investments,” Basaldo explained.
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.
