This is how the entity made it known to the announce that it promotes a bill so that only 30% of the current update rate is charged, which is the Badlar rate of private banks. The rate, which is an average of that paid for wholesale fixed terms, stands at 87.5% annual nominal, which implies an effective monthly rate of 7.5%
According to data from the business entity, a total of 155,888 micro-businesses and 21,501 small businesses signed up for the payment planwhich due to the adjustment mechanism, tripled the value of the quotas
The bill proposes that from installment 13 and up to installment 36 inclusive, 30% of the Badlar rate will be applied in national currency from private banks. From quota 37 to quota 60 inclusive, 40% of the Badlar rate in national currency from private banks. Lastly, from installment 61 and until the end of the plan, 50% of the Badlar rate in national currency from private banks.
Last week, the Argentine Chamber of Commerce (CAC) sent a note to the Minister of Economy, Sergio Massa, in which requests that the law of the moratorium be modified by means of a Decree of Necessity and Urgency (DNU) to make the index ineffective.
The payment plans of the SME moratorium, in which neighborhood clubs and entities have also presented themselves, provided that the first 12 installments would be updated at 1.5% per month and from there, with the Badlar rate.
On the other hand, there was a discussion with accountants and tax advisers. Sources from the Federal Administration of Public Revenues (AFIP) indicated last week that at the time the facilities plan was approved, accounting professionals were clear that after the first year the quotas were going to increase.
But several tax experts also indicated that when the law was approved at the end of 2021, it was not expected that the inflation rate would take off to the point where it is now, close to 100% per year.
The president of CAME, Alfredo González, warned that “as a result of the macroeconomic ups and downs that affect our country and have a full impact on the microeconomy, the SMEs today they do not have the capacity to face such an increase in the installments of their financing plans and They won’t be able to pay.”
Source: Ambito
