The Government of the province of Buenos Aires decided not to update the second installment of the Rural Real Estate taxmaintaining the same value as the previous one, and announced a package of measures for the sector, which include credits and financing lines.
The decision to freeze the tax by the administration he heads Axel Kicillof comes after repeated complaints from producers and the meeting with the provincial Agricultural Board, held last week.
The Buenos Aires Executive explained that “the update enabled by the tax law is not applied in this second installment, with the objective of accompany the efforts of the producers, particularly the medium and small ones.”
The rule approved at the end of last year by the provincial Legislature provides that Rural Real Estate can be updated for inflation, thus it was stipulated that it be for the second installment that expires in June.
New measures for agriculture: credits and financing for agriculture
At the same time, the Buenos Aires government launched new credits destined for the agricultural sector and promoted measures with the objective of “accompanying cooperatives and small and medium-sized rural producers.”
In that sense, it determined that through Banco Provincia, $100 billion will be allocated to the service of wheat production through two financial instruments: Procampo Digital and Línea Siembra.
With Procampo DigitalYou will be able to access financing for the acquisition of seeds, phytosanitary products, fertilizers and fuels in stores, a tool that will also provide MSMEs with loans with rates from 34% to 270 days for the purchase of inputs.
For its part, the Sowing Line will allow producers, tenants and sharecroppers, fundamentally small and medium-sized, access a maximum amount per hectare of $318 thousand for wheat cultivation, at a rate of 42% annually.
In this regard, the provincial Executive stated that “the destination of the funds may be for planting, protection and fertilization work, either on their own or with contractors, and acquisition of inputs.” Meanwhile, they clarified that “This line will be in effect from May 2 to August 31.”
Additionally, with the Procampo Card you can access financing for the general acquisition of seeds and other inputs in participating businesses, at an interest rate of 42% and up to 360 days.
Besides, Until May 31, credits for investment and acquisition of machinery can be accessed through the Expoagro line, which will have $50 billion. These loans will have rates from 24.5% and up to 48 months in term.
In addition, $20 billion will be made available through two financial tools for the livestock sector: the Investment Line, with a term of 60 months and up to six months of grace, with rates from 45%, and Procampo Digital, which offers a one-year term with rates from 28.5%.
The Buenos Aires government recalled that “the REPYME lines remain in force, for working capital financing with terms ranging from 180 days to 24 months, and rates from 39%; REPYME – Echeq, up to 180 days and rates from 30 %; and REPYME – Check Discount, with financing up to 180 days and rates from 32%.
Source: Ambito
