The ruling party issued this Wednesday in the Budget and Treasury Commission of the Senate a majority opinion to the bill that extends for five years the validity of the taxes on Earnings, Debits and Bank Credits, known as the Check Law, and the Monotax, Capital of the Cooperative and additional Cigarette that expire at the end of 2022 and They represent 32% of tax revenue.
In this way, the initiative, which was approved last week by deputiesis ready to be debated in the full Senate within seven days.
The initiative promoted by the Executive Power proposes the extension for five years of the Profit and Check taxes, the Monotax, cooperative capital and the additional Emergency of cigarettes, and also maintain the validity until 2023 of the Fund for Education and Cooperative Promotion.
Other taxes that the Government wants to extend are the specific assignments in the VAT, such as the tax on tickets abroad provided for in Law 25,997 with which the National Tourism Fund is sustained.
The extension of these taxes is essential for the national government because it is a set of taxes whose collection is vital to sustain the public policies of the Nation and the provincesbecause most of them are co-participants.
This tax package was extended at the end of 2017 during the Government of Mauricio Macri for a term of five years and now the Executive Branch proposes to extend it for another five years.
The initiative proposes the extension for five years of the Profit and Check taxes, the Monotax, cooperative capital and the additional Emergency of cigarettes
The majority opinion was signed by the ruling party legislators who make up the commission.
The opposition, for its part, in line with what happened in the Chamber of Deputies,
presented a minority opinion in which they propose modifications in the Check tax and raise the level of Personal Assets, among other issues.
At the opening of the meeting, the president of the Budget and Finance Committee of the Upper House, the Riojan official Richard Warsaid that “these taxes are going to mean in the Budget 23 an amount equivalent to 8 percent of GDP.
Guerra warned that “if not extended, this would cause a drop in collection of around 35 percent.”
For the opposition, Buenos Aires senator Martín Lousteau said that Together for Change “has the responsibility of not defunding the State”, after which he added that “in an attitude that we had during our government we have to tend to lower taxes”.
“We believe that personal assets that rose during the emergency should revert to previous levels. And to the Check Tax, through a political agreement, we should begin to make it be taken into account of Profits”, added Lousteau.
The approval in Deputies
Last Thursday, the Chamber of Deputies approved and sent to the Senate the bill that contemplates the extension for five years of these taxes.
In the general vote, the initiative sumor 129 votes in favorsince the FDT was joined by the support of the deputies of the United Provinces, the Federal Interbloc, and the Neuquén Popular Movement.
In a negative way, 100 legislators pronounced themselves, most of them from Together for Change.
The abstentions, meanwhile, were 18.
When submitting the project to the vote, in particular, the extension of taxes, itself, obtained 129 votes in favor and 118 against; and the specific assignments for the use of taxes added 235 positive and 10 negative, since almost all of Together for Change accompanied in that instance.
In the Chamber of Deputies, the debate on the extension of taxes took place after the approval of the Fiscal Consensus 2022.
