The national government will seek to advance with the provinces in a modification of the tax valuations of real estate to bring them closer to their market value, so that throughout the program that is sought to be approved with the International Monetary Fund (IMF) it will have an impact positive around 0.6% of the Gross Domestic Product (GDP).
This was expressed this Monday afternoon by the head of the Federal Administration of Public Revenues (AFIP), Mercedes Marcó del Pont, on the occasion of accompanying the Minister of Economy, Martín Guzmán, in the presentation of the bill that contains the Memorandum of Understanding with the IMF, before a plenary session of commissions of the Chamber of Deputies.
In that framework, Marcó del Pont anticipated that in the next few days the AFIP is going to publish “an interpretation that for real estate in the City of Buenos Aires returns to the valuation associated with the real estate tax.”
“We are going to use the same valuation that the City of Buenos Aires uses to define the Real Estate Tax,” explained the official, noting that this methodology had been adopted by the AFIP in 2013, taking as a reference the City index that determined the real estate tax equivalent to the fiscal valuation multiplied by four.
“In 2013 the AFIP takes that reference and applies it for the real estate valuation of the Personal Assets tax until 2018, when the AFIP decides to go back and return to the fiscal valuation measurement of dividing it by four,” explained Marcó del Pont, after which he ratified the “political decision to retrace that modification in the coming days.”
Marcó del Pont said that “this policy cannot be replicated with other districts because these indicators do not exist and the most virtuous way to progressively advance is in the Federal Agency for Property Valuations (Ofevi), where it seeks to generate methodologies and procedures to homogenize tax valuations.
“We are going to advance in the activation of the meeting of the Ofevi because it is the power of the provincial States to review the fiscal valuations”assured.
This work contemplated in the memorandum with The IMF will have “an impact of around 0.6% of GDP” and will “gradually advance in the discussion in the context of the Fiscal Consensus and with each of the provinces in this federal office of fiscal valuations”the official specified.
“The objective of converging towards fiscal balance is not sought to materialize through this program by reducing public spending through the traditional mechanism, but rather through the improvement of income through collection and, above all, in the sectors with the greatest taxpaying capacity”reaffirmed Marcó del Pont.
And one of the objectives stated in the memorandum is to “expand the tax base, but above all for the most progressive taxes, and taxes such as personal property appear to lead the state’s concern to maximize the ability to achieve compliance with this tax,” he explained. the official.
The head of the AFIP stressed that “the deterioration in the tax valuations of real estate is noted, and that part of the taxable base of personal property is urban real estate, so it is a priority to discuss how they are approaching to assimilate the valuations taxes at market values.
He also pointed out that the heterogeneity that can be seen in the Argentine territory “supposes a component of inequity for properties that have the same value, but when it comes to being translated into their fiscal valuation there is a very important inequity.”
