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changes in the new omnibus law

changes in the new omnibus law

As Ámbito exclusively anticipated, the meeting between the Chief of Staff, Nicolás Posse, and the Minister of the Interior, Guillermo Francos, and the provincial leaders was the framework for the Government to raise the need to obtain a majority consensus on the main points of the “Law of Bases and Starting Points for the Freedom of Argentines”, known as the omnibus law. Likewise, it was agreed to continue working at a political and economic table to advance its approval.

During the meeting, the Government proposed promoting a package tax relief which includes a Tax Moratorium, the Modification of the Internal Taxes on Tobacco, and the Elimination of the Tax on the Transfer of Real Estate of Individuals and Undivided Estates.

Also, it was discussed including changes in the Personal Income Lawthe elimination of certain exemptions that apply to it, and the modification of the Monotribute, increasing the scales of billing amounts and tax rates. Finally, the promotion of the Consumer Tax Transparency Regime was proposed.

governors Posse pink house.jpg

The governors met this Friday with the Chief of Staff Nicolás Posse and the Minister of the Interior, Guillermo Francos.

It should be remembered that the tax relief package will be included as long as the approval of the n is achievednew Base Law.

New omnibus law

The new project of omnibus law includes 9 chapters ranging from the Emergency Law, Labor Money Laundering, Privatization, Economic Deregulation, and pension issues, among others. Whilethe modification of the Income Tax would be presented separately. According to reports, the Government seeks to The new non-taxable minimum, from which the tax is paid, is between $1.5 and 1.8 million.

The central axes of the new bill include: the declaration of Emergency for administrative, economic, financial and energy aspects for only 1 year, as he was able to access Ambit.

One of the Government’s concerns is to advance reform the State with the slogan of freeing citizens from its weight. In this chapter, articles are proposed referring to Parliament delegating to the Government the tools to be able to in the central or decentralized Administration: reorganize; merge, transform, partially or totally dissolve organs or agencies of the central or decentralized administration created by law or regulation of equivalent rank (universities, CONICET and INTA are excluded).

Trust Funds are also included. This point was what led the president Javier Milei made the decision at the time to withdraw the project, after the defeat during its treatment in the Chamber of Deputies.

At this point, the new project hopes that the Executive Branch can modify, dissolve or determine the extinction of public trusts and that the funds go to the National Treasury until the next Budget law is passed.

Labour reform

One of the issues considered key to economic reactivation is job modification, In different aspects. The new omnibus law contemplates in the Chapter IV the treatment of Public Employment. Meanwhile, Chapter VI contemplates the “Promotion of registered employment” and establishes the creation of a “labor laundering” regime.

Pension reform

This point is key to being able to update retirements. He Chapter V foresees the modification of the mobility of pension benefits and the modification of the current pension formula.

The proposal is a monthly adjustment for inflation plus 10 percentage points of recomposition for the previous period. Surely this proposal will be resisted by several legislators who aspire to consider the recomposition of the months of highest inflation.

Also included is a chapter of Consolidation of Public Debt and the State will retain the shares of companies within the Sustainability Guarantee Fund (FGS) of the ANSES.

Contracts

Likewise, there will be a modification to the current contracts and transactional agreementsthat is, to provide for emergency reasons, the renegotiation or termination of contracts of certain characteristics and amounts; and regulate the possibility of entering into transactional agreements.

As well as a chapter referring to the delegation to the Executive Branch of the modification of regulations on private economic activity that result in an increase in its costs.

Also contemplated is the chapter of Energy, the Hydrocarbons Law, natural gas and energy transition and, to promote investments, a Incentive Regime for Large Investments.

Source: Ambito

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