In a preliminary analysis, they warned that there will be an impact on the activity from a higher fiscal pressure, on inflation due to the increase in production costs, mainly for SMEs, and the loss of competitiveness of exports.
The Argentine Industrial Union (UIA) warned about the consequences that the latest measures announced by the Government on the application of the COUNTRY tax for imports of goods and services. In a preliminary analysis, they warned that there will be an impact on the activity from a higher fiscal pressure, on inflation due to the increase in production costs, mainly for SMEs, and the loss of competitiveness of exports.
“The announcement of Executive power on the creation of new taxes and the increase of existing ones adds an additional weight to the tax burden that has been burdening companies and citizens in general for a long time, hindering productive activity and discouraging private investment“, the statement begins.
“Such is the case of the measure announced yesterday that seeks to unify different exchange rates and that was made official today in RG 5393 of AFIP. He fiscal deficit generated by the increase in public spending at all levels of government, the losses of state companies, the subsidies for energy and transportation, and the financing of said debts through the monetary issue, has led us to a rate of inflation very high, which constitutes an additional tax, especially on the most vulnerable sectors”
daniel funes de rioja uia sergio massa
Ministry of Economy
“The discussion of these highly relevant issues must take place in the National Congress, which, according to the National Constitution, is the only one empowered to create new taxes and the occasion to do so is the discussion of the 2024 budget. A balanced budget, voted by the consensus of the different political forces, would be a very positive sign to generate private investment and would facilitate discussion with international credit organizations,” they affirm.
“It is time for us to abandon improvisation and discretion and work on fundamental solutions to problems that we have been dragging along for years. We are called to take advantage of a new opportunity that the world offers us in the coming years. Let us not lose it again”, concluded the UIA.
The measures of the Ministry of Economy
Within the framework of the negotiations with the International Monetary Fund, the Ministry of Economy took a series of measures whose main objective is to strengthen the reserves of the Central Bank and improve tax revenues.
A dollar of $340 was established for the Regional Economies and corn for all those exports liquidated until August 31, 2023. The government estimates to achieve a liquidation of the order of US$2,000 million.
Likewise, different aliquots were established for imports through the Country Tax range from 7.5% to 25%.
The Solidarity dollar and the Card matched their value when applying the perception of the Country Tax and advance of Earnings.
Likewise, it was established, with the intention of reinforcing tax collection, the extraordinary advance of the Income Tax of 193 large taxpayers.
Source: Ambito
