The general drop is due to the Minimum Tax project for Large Companies that the national government incorporated into the 2024 Budget.
The Buenos Aires stock market falls this Friday, September 15, and break a bullish streak of three climbs in a row. This is due to the inclusion of a project of Minimum Tax for Large Companies that incorporated the national government into Budget 2024 and that he will send this Friday to National Congress.
In that context, the S&P Merval by BYMA down 2.6%until 556,770.30 unitsafter registering an improvement of 11% in the last three days.
The local actions operate with majority of casualties. In this framework, in the leading panel those that register greater losses are those of Northern Gas Carrier (-4.3%), Supervielle Group (-3.8%) and Southern Gas Carrier (-3.7%). Meanwhile, the only ones that advance are those of Aluar (+0.4%).
Meanwhile, on Wall Street, Argentine papers They also operate with majority of falls. Those who give in the most are those of were those of Southern Gas Carrier (-23%), Telecom (-2.2%) and Central Port (-2.2%). At the same time, the only ones that rise are those of Take off (+1.1%) and Free market (+0.6%).
Minimum Tax for Large Companies and its impact on the Buenos Aires stock market
This Friday, the National government will send a project to National Congress to establish a Tax Minimum for Large Companies of the fifteen% that will be included in the Budget 2024.
This occurs in the middle of a debate opened by the Organization for Economic Cooperation and Development (OECD) following a series of detailed rules to implement a reform of the international tax system.
The central objective of the initiative is to ensure a minimum tax rate of 15% for the multinational companies. According to official estimates, the group of companies that would be reached by the global minimum rate pays currently less than 3% for sales.
Bonds and country risk
The dollar bonds surrender in their entirety, except for the Global 2038 which advances 0.8%. Meanwhile, the majority operate downwards and those that register the greatest losses are the Bonar 2030 (-2.3%), the Global 2030 (-1.7%) and Global 2035 (-1.3%).
For his part, the risk country-as measured by JPMorgan- climbs 19 units, or 0.9%, to 2,175 basis points. In that way, breaks a bearish streak of two consecutive days.
Source: Ambito
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