The Senate will begin this afternoon the discussion of the bill that has come under review from Deputies that establishes measures to promote investment in the automotive industry, It contemplates tax benefits such as the exemption from the right to export until 2031 and declares the auto parts production a strategic sector.
The law is one of those demanded by the current economy minister, Sergio Massa, and which had been approved a month ago in the lower house with broad support from the ruling party and the opposition.
The plenary meeting of the Budget and Treasury and Industry and Commerce committees was convened for 5:00 p.m. in the Arturo Illia Hall of the Legislative Palace.
LThe intention is to debate the rule and pass the opinion to signatureso that the issue can be taken to the venue and converted into law as soon as possible.
The initiative establishes a set of incentive measures aimed at new investment projects that ensure greater production, exports and employment in terminals and auto parts companies, in order to add value from industrial processes.
Also, benefits are contemplated for automotive investments, such as the early return of the Value Added Tax (VAT), since it establishes that the return term will be reduced from six to three years and, in the case of the amortization of capital goods, from five to three years.
