The Senate of the Nation approved yesterday, and turned to Deputies, the project that plans to modify the Personal Property Tax Law as a result of promoting greater tax relief for taxpayers. Now, the lower house must advance the treatment and approve it to make it law. Although it is a project promoted by the Front of All, the opposition accompanies the initiative.

The initiative seeks to exempt taxpayers whose assets, as a whole, result in a value equal to or less than six million pesos. Although at the beginning the project contemplated an amount equal to or less than eight million pesos, the Ministry of Economy urged the official bloc to lower the figures that managed to reach an agreement with the different forces to reduce it to 6 million pesos. In this way, the ceiling that currently has a limit of two million pesos will be tripled.

Likewise, the text that was discussed yesterday in the Senate It specifies the properties destined to house-rooms will not be covered by the tax when their determined value is equal to or less than thirty million pesos, an amount that is currently 18 million pesos.

“If we do not update, we would begin to tax taxpayers who would not be reasonable to do so. Any family that owns a small car and land to build their home would be paying this tax. It is an unfair thing. Not only must taxes be fair and sensible, but they must be applied in reasonable situations, ”explained Senator Carlos Caserio, who promoted the project.

Regarding the update of the values ​​of the new limit, the ruling party indicated that they will be updated automatically in December of each year based on the variation of the general wholesale price index prepared by the National Institute of Statistics and Censuses (Indec).

Small taxpayers debt forgiveness

On the other hand, the tax relief for small taxpayers promoted by Sergio Massa was also approved on tables and without a commission opinion. The initiative had been approved by Deputies last Tuesday. The rule consists of the total cancellation of tax, customs and social security contributions debts that will reach sectors such as volunteer firefighters, neighborhood clubs, foundations, community organizations and micro enterprises (MSMEs).

The initiative aims to free work and school cooperatives from total tax, customs and social security debts of less than $ 100,000; the entities that make up the National System of Voluntary Firefighters (SNBV); the popular Libraries; neighborhood clubs and civil entities of social assistance, charity, charity, literary and artistic. In this way, it is intended to benefit 6,727 entities that will have a zero fiscal account.

In addition, the project exempts from paying the debts of micro and small companies, taxpayers of profits and VAT and monotaxes of less than $ 100,000. On the other hand, it seeks the extension of the moratorium and incorporates issues proposed by the opposition regarding extending the moratorium for all debts, and not limiting it only to debts after August 1, 2020.

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