The Minister of Economy reiterated that there will be a decrease in September and it will end at the end of the year.
Economy Minister Luis Caputo confirmed that the PAIS tax ends in December and is not renewed“It is very important to remove it because it is a highly distorting tax that we imposed temporarily given our political weakness,” the official said.
“When I imposed that tax, I said that I was going to make it temporary, that it was essentially to go to zero deficit and gain negotiating power with the provinces and with Congress, and that I was going to remove it as soon as the law was passed. Of course, nobody believed me because every time a tax is imposed in Argentina, nobody removes it,” said the minister.
Along these lines, he explained that it is a tax that directly affects prices. “When we take it out in September we will see a new significant drop in inflation and it will effectively end in December. There is a 17.5% exchange rate recomposition, for those who say that the best way to gain competitiveness is through devaluation,” he concluded in dialogue with LN+.
Source: Ambito
