The Buenos Aires Legislature approved this Friday morning the 2023 Budget for the province of Buenos Aires, which contemplates expenses of 6.9 trillion pesos, and the Tax Law, which provides for a lower tax burden for more than 90% of taxpayers.
Both initiatives were first approved by the Deputies, and then they were sent to the Senate for final approval.
After several meetings between representatives of the Executive Branch, legislators from the ruling party and the opposition, it was agreed to include in the proposal a Municipal Infrastructure Fund (FIM) and a Security Fund of around 56,500 million pesos, which the mayors demanded.
In addition, ceilings were established for the highest scales of property taxes contemplated in the Tax Law.
“It is very important to approve this project because it reflects the work that is being done in the province and that has set priorities that have to do with strengthening issues related to production, health, education, work,” said the deputy. of the Frente de Todos Lucía Iañez, who highlighted some of the increases registered in the project.
In addition, he stressed that once again the project has a gender perspective and attends to the care of the environment.
The representative of Juntos, Valentín Miranda, also took the floor, who highlighted the agreement reached between the majority blocks and maintained that it is part of a “constructive opposition that puts a stop to abuses, that controls, that marks the differences and proposes improvements”. .
In addition, during the session in the Chamber of Deputies, the representatives of the Left Front and the Workers, Guillermo Kane and Graciela Calderón; and the legislators Nahuel Sotelo and Guillermo Castelo, from Avanza Libertad, who questioned that progress was made with the approval during the early morning and argued the reasons for their negative position.
Buenos Aires numbers
The initiative sent by the Government of Axel Kicillof supposes a primary deficit of $81,000 million and a financial deficit of $249,000 million, and includes requests for financing with international organizations in foreign currency and in local currency for $168,062 million.
In the Senate, Marcelo Feliú of the Frente de Todos considered that “Governor Axel Kicillof has devised a Budget and a tax law that is up to the circumstances of the country.”
He stressed that the “investment in capital is increased by the fund for municipalities, 45,500 million for municipal works and 11 billion for security.”
In recent statements to Télam, the Minister of Finance, Pablo López, had explained that the proposal “bets on a present State that manages to close the gaps in terms of existing productive and social infrastructure, in addition to promoting the development process through a active productive policy that promotes technological change and the generation of new jobs”.
In this way, $14,000 million will be allocated for production and employment; for social promotion $280,000 million; for infrastructure $550,000 million; for health $162,000 million; for education and culture $1,827 million; for security $62,000 million; for the gender perspective, almost $129,000 million, and for the environmental perspective, almost $12,000 million.
The Tax Law provides for a reduction in real terms in property taxes for 90% of taxpayers, by establishing limits of less than 60% per year by 2023.
In the case of the Real Estate Tax, both Rural and Urban, they will have increases of less than 60%, while for the Automotive Tax a ceiling of 40% was established.
At the same time, in Gross Income the universe of small and medium-sized companies benefiting from the differentiated rate is maintained, through the 95% increase in the maximum billing amount.
