Today the Government sent to Congress the the changes to the omnibus law project, in which it introduced negotiated modifications in key points such as withholdings, retirement mobility and privatization of public companies.
Retirees: changes in the formula
At first, the current pension mobility formula will apply Until April and then will update for inflation calculated by INDEC.
“The Government is going to comply with the quarterly adjustment that corresponds to all retirees in March, respecting the current formula. Starting in April, an automatic update for monthly inflation begins based on the latest inflation data available from INDEC. This way, retirees are guaranteed to maintain their purchasing power,” he said.
In no case can the application of said index produce the decrease in assets that the beneficiary receives, the document clarifies.
In parallel, The new text eliminates privilege retirements for President and Vice President, which had been maintained when the government of Alberto Fernández eliminated other privileged retirements at the beginning of 2020. In this way “an end is put to a privilege of the caste where the Presidents accessed a millionaire and lifetime retirement,” said the Government in the clarifications to the final project. Even so, privileged retirements for Supreme Court judges will continue to exist.
YPF will not be subject to privatization
YPF was removed from the list. For Nucleoelectrica, Banco Nación and ARSAT, it was established that the State can only carry out partial privatization, and must maintain control of the company. Furthermore, the participation of the Bicameral Privatization Commission of Law N 23,696 for the monitoring of the respective procedures.
On the other hand, article 9 was eliminated and the current wording of article 35 of Law No. 24,804 was expanded in order to maintain the power of veto in some decisions of Nucleoeléctrica Argentina Sociedad Anónima.
Finally, Article 11 was eliminated, maintaining the obligation of the State to have a veto action for decisions that imply the closure of the activity.
Zero withholdings
They are established 0% withholdings for regional economies. At the same time, the power of the Executive Branch to raise export duties is eliminated. Only the power to reduce them is maintained. Thus, The final project rules out the possibility of increasing export duties on soy products from 31 to 33%.
Fishing sector
After complaints from the sector, the project promotes the bidding of the fishing quotas and refers to the confusion that occurred in the previous draft as a consequence of the incorporation of the word “international”. Regarding that, the Government clarified: “This word is removed in this version to clarify this confusion.” Also, the derogations of articles 25 and 40 of Law N 24,922 were eliminated, thereby maintaining the obligation to unload at port and have an Argentine crew.
Money laundering
- It is established that non-resident subjects who adhere to the “Asset Regularization Regime” will not be able to declare assets that are in possession, noted, registered or deposited. to third party names.
- Officials who are included as excluded subjects are incorporated as have held the role in the last five years. That is, it incorporates only officials from Alberto Fernández’s government.
- Withholding agents with firm processing are excluded.
- It is defined that the proceeds of the Special Regularization Tax will be allocated to the capitalization of the Central Bank of the Argentine Republic.
- All public officials, including their family members, will be excluded.
- The amounts to be entered as Special Regularization Tax must be calculated and entered in US dollars.
- The rate goes up to 15%.
Source: Ambito
