The Ministry of Social Development (Mides) reported this Tuesday that from August the application of a personalized VAT will begin to be implemented for those beneficiaries of the Equity Plan.
This benefit was announced by the National Executive in mid-May along with other economic measures. According to what was explained at that time, these are mechanisms that aim to favor the sectors with fewer resources to alleviate the increase in prices. The government also explained that it could also work as a way to boost employment growth in the country.
The announcement of the application of this prerogative was made by Minister Martín Lema himself, who explained how it would work.
“Instead of VAT exemption per product, this is a system that we consider to be much fairer. This takes into account the socio-economic situation of the households”, he advanced.
“As of August 1, the personalized VAT will begin to be implemented. Those who receive family allowances-Equity Plan can choose to collect the allowance through the TuApp application”, he explained.
“Consuming goods and services through the cell phone, through this platform, you will have VAT exemption on products,” he added.
“In turn, apart from receiving the allocations through this tool and having the exemption, it will be authorized that your income be available in that account up to 2,000 extra pesos per month. With this money, the operations carried out also have the corresponding VAT exemption”, Lema rounded off at a press conference.
