The Municipality headed by Carolina Cosse will stop receiving more than 3.8 million pesos in revenue.
The Municipality of Montevideo will exempt from the payment of Additional Commercial Tax to 154 shops in Old City until July of next year, as part of “a revitalization plan” for the area, which contemplates that the capital stops receiving more than 3.8 million pesos as part of tax collection.
The request of the IM, who heads the Mayor Carolina Cosse, was approved by the Departmental Board of Montevideo in the last hours and will apply to the premises that are located in Rincón, Colón and Reconquista streets, where the works are being carried out, included in the program “Late Old City”.
“In the framework of the works that from the Municipality of Montevideo we are carrying on Old City, The businesses located in Rincón, Colón and Reconquista streets will be exempted for one year from the payment of the Additional Commercial Tax”, advertisement Cosse through their social networks.
He director of the Department of Financial Resources of Montevideo, Mauricio Zunino, He specified that the businesses authorized to access the benefit “should not carry out any type of additional procedure, since their accounts are automatically identified and notified by the commune.”
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Photo: Municipality of Montevideo
The exemption will apply to new businesses that are installed in the area
At a press conference, Zunino He pointed out that the benefit will also apply to new businesses that are installed and said: “We are very happy, since this is part of a comprehensive plan to revitalize Old City”, contemplated in the increase in the expense of Accountability of the IM.
In total, 154 businesses will be able to access this exemption, which will be valid from July 1 of this year until July 1, 2024, since that is the period of execution of the work, which began in May. The businesses included are in almost the entire extension of Calle Colón; in Rincón, from Zabala to Ciudadela; and in Reconquista, from Pérez Castellano to Bartolomé Mitre.
As stated by the Municipality of Montevideo, The objective is to reassign the use of public space to achieve a better balance in its distribution, seeking to give pedestrians and community spaces a greater role.
Source: Ambito
