He Senate from the province of Buenos Aires The “RIGI of Buenos Aires” became law this Thursday, the project of productive development and investment promotion sent by the governor Axel Kicillof. In addition, it approved and sent to the Chamber of Deputies the modification of the pension regime of Banco Provincia (Bapro)thanks to the votes of three ex-libertarians, among whom is Carlos Kikuchi.
The Promotion Regime for Strategic Investments in the Province of Buenos Aires was sent to the Legislature on September 11 and was sanctioned on the 25th, with the vote of the legislators of Unión por la Patria.
During the debate in Deputies, The initiative was rejected by the PRO bench, the PRO-Libertad, La Libertad Avanza (LLA) and the left, while the UCR-GEN, the Civic Coalition, the UCR + Cambio Federal and Unión Renovación y Fe abstained. to vote.
The proposal seeks to accompany those who “invest to generate added value and quality employment, aims to generate local suppliers, to include technologies, to diversify the productive matrix, to increase and substitute imports, and to generate equity.”
The Buenos Aires Government explained that the entry of projects into the investment regime will be analyzed for approval or rejection. “based on its contribution to the productive, economic and social development of the province” and it was pointed out that The deadline for submitting proposals will be two years from the entry into force of the standard.
Eligible projects will be those for the establishment of new plants or investments, expansion of existing plants or facilities; there will be partial tax exemptions on Gross Income, Real Estate and Stamp taxes; and fiscal stability of up to 30 years will be provided to those who join the regime.
It was also stated that the projects will be segmented into three groups, according to the amount of the investment (up to 50 million dollars, greater than 50 million and less than 200 million) and it was noted that there will be additional benefits based on the fulfillment of certain conditions such as an increase in jobs; location in low-income areas and industrial parks; gender policies; technological innovation; environmental sustainability; import substitution and increased exports.
The Province Bank
The Buenos Aires upper house also approved the bill that Kicillof sent to repeal Law No. 15,008, passed during the administration of Maria Eugenia Vidaland establish a new regulatory framework that seeks to restore and expand the rights of retirees of Banco Provincia.
Among the most notable points of the initiative, it is proposed the reduction of the retirement age for women to 60 years, reversing the previous reform that had raised it to 65; the restitution of the 82% mobile for the calculation of the retirement benefits of Banco Provincia (Vidal’s law provided for the calculation at 70%) and establishing pensions at 75% (the former provincial president’s rule indicated doing so at 70%).
In December 2017, during the Vidal government, the provincial Legislature passed a law that modified the retirement regime for the entity’s employees, raising the retirement age of women from 60 to 65 years, equal to that of men.
In addition, a change was implemented in the calculation of retirement assets, based on the average of the last ten years of salaries, instead of using the last salary received. This adjustment was argued by the Executive as necessary to reduce the deficit of the Banco Provincia pension fund, which according to the government was generating an unsustainable burden for the province’s coffers.
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However, the rule received strong resistance from the opposition, unions and Bank employees, who considered the measure as a threat to their acquired rights and a loss in their working conditions.
In fact, the guild The Banking Associationpromoted strikes and mobilizations in rejection of the reform, while opposition legislators criticized the modifications in harsh terms.
Source: Ambito
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