The national Minister of Finance presents the draft bill that contemplates modifications to the country's tax regime.
Months ago, the Casa Rosada announced the decision to open the discussion for a tax reform project.
In fact, eThe Minister of Finance, Nicolas Dujovne, confirmed that the National Executive Branch will send this initiative to Congress before the end of the year.
This Monday (28.08.2017), the head of the economic portfolio will present to the president, Mauricio Macri, the draft bill that would not include an increase in the maximum rate of 35% of the income tax, but could establish charges on public securities.
The newspaper “La Nación” reported that The official plan would aim to simplify the tax system and reduce the burden on the productive sector to encourage investments..
One The purpose of the reform is to reduce the current exemptions on VAT and Income Tax; the initiative to require judges to pay the latter tax is part of this.
So-called "tax expenditures," which include tax breaks in the budget, were about $4.500 billion in 2016 and $5.600 billion in 2017.
The Undersecretary of Public Revenue, Andrés Edelstein, indicated that the level of tax pressure in Argentina will be above 31% of GDP this year, when it was 24% in 2004. "We started at 18% in 1991 and closed at 31% in 2015," said the Undersecretary.
Source: Telam and La Gaceta
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