They will come into force as of February 1, 2024. This measure applies to unleaded gasoline, virgin gasoline and diesel.
The Government postponed the tax increase that impact the price of fuels which was scheduled for this month in February 2024. This was confirmed by the Minister of Economy this morning.
Throughl decree 567/2023published this Wednesday in the Official bulletinthe Executive established that the increase in the amounts of tax burdens that “result from the updates corresponding to the third and fourth calendar quarters of the year 2021, the first, second, third and fourth calendar quarters of the year 2022 and the first, second and third calendar quarters of the year 2023″ will begin to take effect from February 1, 2024. This measure reaches the unleaded gasolinethe virgin naphtha and the gasoil.
The Government alleged that this decision aims to “ensure a necessary stabilization and a “adequate price evolution”since it considers that, since they are “consumption taxes, and given that the demand for liquid fuels is highly inelastic, variations in taxes are transferred practically directly to the final fuel prices.”
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Fuels: why the tax increase is postponed
These increases are contemplated by Law No. 23,966 of 1998 and its amendments, which establishes fixed amounts in pesos per units of measurement to determine the tax on liquid fuels and the tax on carbon dioxide, respectively. This legislation also orders the implementation of a fixed differential amount of the tax on liquid fuels for diesel when it is intended for consumption in the provinces of Neuquén, La Pampa, Río Negro, Chubut, Santa Cruz, Tierra del Fuego, Antarctica and the South Atlantic Islands. , as well as in the districts of Patagones, in the Province of Buenos Aires and Malargüe, Mendoza.
In 2018, it was established that the Federal Public Revenue Administration (AFIP) would apply these increases in the months of January, April, July and October of each year, for which it would take into consideration the numbers of the inflation. However, the Government was postponing them due to the sharp rise in inflation and taking into account that Every 10% that fuel prices increase, the impact on inflation is 0.3% direct effect and 0.3% indirect effect. In total, the impact it should have on inflation is 0.6%.
Source: Ambito
