24hoursworld

Government postponed the increase in fuel tax

Government postponed the increase in fuel tax

The national government postponed the increase in the fuel tax which directly affects the value of gasoline and diesel.

Through decree 107/2024, published this morning in the Official bulletinthe increases in the amounts of taxes set for fuels were established, corresponding to the first, second, third and fourth quarters of the year 2023, because they had become outdated.

In this way, the Government established that the increase in the first and second quarters of 2023 take effect for unleaded gasoline, virgin gasoline and diesel as of March 1 of this year. Meanwhile, the other increases are planned for April 1 and May 1.

In the recital of the standard, the Executive poses that this decision aims to “initiate a process of regularization of the aforementioned remaining increases, it is reasonable to partially defer their effects, as well as those of the update corresponding to the fourth calendar quarter of 2023.”

Likewise, the Ministry of Energy, which leads Eduardo Rodríguez Chirillo, He had already announced that he hopes that path of “sincerity” in the price of fuels occurs gradually after the strong increases accumulated in recent months.

Fuels: why the tax increase was postponed

The decree argues that “through different regulations, the effects of the increases in the amounts of taxes established in the first paragraph of article 4, in subsection d) of article 7 have been successively deferred, until various dates. , both from Chapter I, and in the first paragraph of article 11 of Chapter II, all of them from Title III of Law No. 23,966, text ordered in 1998 and its modifications, resulting from the pertinent updates, in the terms of article 7 ° of the Annex to Decree No. 501/18, for unleaded gasoline, virgin gasoline and diesel fuel.”

In that sense, the Government explained that “the effects of the increases in the amounts of the aforementioned taxes, derived from the updates corresponding to the third and fourth calendar quarters of 2021, to the first, second, third and fourth calendar quarters of the year 2021, were postponed. year 2022 and to the first, second and third calendar quarters of the year 2023, for unleaded gasoline, virgin gasoline and diesel, until February 1, 2024, inclusive.”

What are fuel taxes?

In detail, fuel taxes have an update mechanism based on the variation of the Consumer Price Index (CPI) of the Indec of the previous quarter, in line with what is provided for by the regulations in force since 2018.

Although the official premise is price liberalizationcorrecting the entire delay implied a direct effect on inflation amid the increases in other regulated services and, consequently, on consumers’ pockets.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts