The General Legislation Commission of the Chamber of Deputies issued an opinion on Tuesday on the bill promoted by Sergio Massa (Frente de Todos) and Cristian Ritondo (PRO), to extend the incentives law throughout 2022 to encourage the constructionwhich enables decrease taxes in the specific framework of a unregistered money laundering.
Last December the first stage of the extension ended and they sought to implement the extension with the 2022 Budget project, which was finally rejected with the opposition vote in the precinctTherefore, this system could not be extended to launder these funds with tax benefits. as long as they are intended for construction.
The meeting at which the opinion was signed lasted only ten minutes since the text that had been dictated last November and that had lost parliamentary status as a result of the legislative change of December 10 was initialed.
The bill -which was able to be debated by the plenary session of the Chamber- extended for 150 daysand for the only time, the validity of the Argentine Federal Construction Incentive Regime and access to Housingwhich establishes tax benefits.
AccordingIn the bill, people who declare capital before 60 days after the law is enacted will pay a tax of 5 percent; while those who do after that date and up to 90 days they will pay a single tax of 10 percentand those who do from that day and up to 120 days will pay a 20 percent.
The benefits contemplated in the law contemplates only new private works initiated at the time with the entry into force of the law, as well as those that have a degree of advance less than fifty percent to reactivate those that are paralyzed.
The rule, which was approved in March 2021, aimed to promote development or investment in real estate projects carried out in our country.
Last week, the chamber that brings together real estate operators requested that an extension be implemented before the next expiration of money laundering for constructionscheduled for next Friday.
“The worsening of the epidemiological situation delayed the administrative process for accession, what we ask is prompt treatment of this issue, since both the deputy Ritondo and Massahave made a joint presentation for the extension”, indicated during last year’s debate the president of the Argentine Chamber of Real Estate Services Companies (Camesi), Alejandro Ginevra.
