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Wednesday, March 29, 2023

Arbeleche defended the government’s ability to lower taxes

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In this regard, Arbeleche stressed that the reduction is possible thanks to the good money management that the current administration carried out, and that it is not necessary to reduce spending items to finance the promised fiscal relief.

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“The amount and the characteristics will be announced by the president, but it has been the responsible, prudent management, not only of the MEF but of the entire government, which allows us to be today in a comfortable situation to support the agricultural sector in all need and, in turn, announce a tax reduction as the President of the Republic is going to do,” he said at the inauguration of Peach Expo 2023.

Government jobs after “complicated years”

Arbeleche also recalled during his speech in front of the public that the government managed to reach a situation of economic balance even after difficult years and taking office under adverse conditions: “with a high fiscal deficit, we had to face the pandemic situation —we allocated 2.3 billion dollars to support the pandemic—, and now we are committed to supporting the agricultural sector in whatever is necessary”.

In this sense, he pointed out that the government is preparing a bill for the payment terms of agricultural taxes, which advances in parallel with the loans in the financial system guaranteed by the State and the microfinance loans of the Republic Bank.

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As for the Social Welfare Bank (BPS), the minister recalled that “the payments from January to February and from February to May were delayed, and what we are working on right now is that the May payment be in installments and not in a single month.” She added that at the level of taxes, on the advances of Income Tax for Economic Activity (IRAE) and Wealth tax“We have also made a 30-day run and we are working together with the Livestock portfolio so that the following advances in the remainder of the fiscal year until June can all be paid at the end of the year.”

In any case, Arbeleche pointed out that “these measures are new, they require a law, we are working on that bill; They are not operational, they obviously have to go through a vote in Parliament”.

Source: Ambito

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