Mauricio Macri’s former official asked the Government to clarify how it will recover the resources it will lose by delegating the most important points of the law.
The ex Minister of Finance of Mauricio Macri and architect of the agreement with the International Monetary Fund (IMF), Nicolás Dujovne, predicted an adjustment scenario if the Government does not replace resources from the omnibus law.
In his account of “ALREADY for the Nation it was withholdings (0.5% of GDP) and Profits (0.4% of GDP).”
“That 0.9% lost can be recovered. Fuels, which is all of the Nation, today collect 0.4% of the GDP and at the maximum it generated 1%. And with everything bad that the Country Tax is, today the rate is 17.5% and the Executive “has the power to raise it. Everything lost can be recovered,” he added.
On the other hand, he pointed to the tax benefits that Tierra del Fuego accesses and that year after year they will be reduced: “It is unfair not to do anything with the Tierra del Fuego regime. For the treasury and the consumers. Without touching the regime (which is also possible), we must return to the 2017 reform and unify the Inmate rate, and also unify the tariffs of the Island with those of the Continent. Only with that change, cell phones and notebooks begin to be imported into the continent and VAT and Profits are collected. Prices are lower and collection increases. The treasury and consumers win. “It’s the least that can and should be done.”
“On the spending side, there is always a lot to do and the missing differential can be generated. But it is very important to show the detail and sequence to provide certainty and consolidate the reduction in sovereign risk,” he concluded.
Omnibus Law: the Government’s retreat to achieve its approval
In a press conference at Casa Rosadathe minister Luis Caputo announced that the ruling party will remove the tax chapter of the omnibus lawwith the aim of achieving the average sanction in the Chamber of Deputies.
“In no way do we want, due to this fiscal chapter, something that is necessary and urgent to be delayed.”said the Minister of Economy during the press conference, where he noted that, as compensation, the Government is “evaluating measures that imply greater adjustment for everyone“.
The articles included in the chapter of the tax reform of the omnibus law and that will be removed contemplated modifications in:
- Retirement mobility: The formula that determined retirement benefits will continue by an index that arises from adding 50% of the quarterly increase in the collection of the ANSES and 50% of the variation in salaries.
- Money laundering: was allowed regularize up to US$100,000 in cashreal estate or cryptocurrencies without paying taxes.
- Moratorium: new regime was established regularization of tax obligationscustoms and social security.
- Personal property: contemplated the possibility of an early payment of this tax for obligations of the next four years and a gradual reduction in the rates.
- Income Tax: The non-taxable minimum was reduced until it reached gross salaries of more than $1,350,000.
- Withholdings: The increase in charges for export duties to regional economies is eliminated.
Source: Ambito
