The PRO’s parliamentary opposition seeks to put the economic issue on the front page, as AMBA trades fall and thousands of pandemic jobs are lost. In this context, it will relaunch the projects it presented during the 100 that lasted, for now, the quarantine in the City and greater Buenos Aires. With seven axes that are most damaged by the parate caused by the national government’s health strategy and supported by governors, they are looking for alternatives to lift up these sectors. Smes:
ECONOMIC, FISCAL AND FINANCIAL EMERGENCY FOR CLASS I SMES
Tax measures: suspension of tax executions, extension and tax maturities, ZERO tax payment plans, exemption to monotributists for the duration of isolation. Use of employer contributions as a VAT tax credit per zone (based on economic development, distance ports, population density, etc.)
Financial measures/liquidity: ZERO rate credit for aguinaldos; un punitive bank overdrafts or fees for checks issued from March 2020 until completion of Isolation for Monotributists, Self-Employed, SME Stretch 1; authorization to distribute profits to ATP Program beneficiaries
Measures to encourage demand: extension of the Now 12 Program, exclusion of merchants from the withholding tax regime (invitation to provinces to do the same), reduction of bank fees for credit card issuers (2020: 2%, 2021: 1.8%) debit (2020: 0.9%, 2021; 0.8%)
Construction:
SPECIAL REGIME FOR THE PROMOTION OF CONSTRUCTION AND ACCESS TO HOUSING
It promotes the growth of supply, provides conditions for the construction of homes by establishing minimum building parameters.
Investment stimulus measures.
Exemptions for beneficiaries in Income Tax, Value Added Tax, with the possibility of counting tax credit, Credit Tax and Bank Debits.
Elimination of withholdings and collections of Income Tax and Value Added Tax.
In profit allows the total deduction of the cost of acquisition of the land and the possibility of applying sales and replacement rules.
It allows to draw from the employer contributions they pay on workers in relation to dependency, the sum of pesos SEVENTEEN THOUSAND FIVEIENTS NEW WITH TWENTY CENTAVOS ($17,509.20) in the terms of the sixth paragraph of article 22 of Law No. 27.541.
It replicates the regime provided for in article 206 of the Productive Financing Law, to the Closed Common Investment Funds or Financial Trusts whose investment object is real estate projects.
REAL ESTATE INVESTMENT PROMOTION
Transitional regime aimed at new projects
Among the main benefits: It allows the updating of the value of the properties, works and improvements that are destined for sale until the date of the last year closed before the realization of the investment.
Return of tax credits arising from the acquisition of goods and services for investment projects after 6 consecutive tax periods since their calculation, or compensation with other national taxes
Calculation of 100% of the tax on debits and bank credits as payment on account of income tax
It allows the use of the sales and replacement regime (free of income tax) in cases where the sale of the property is reinvested in certificates of participation or share parts of condominiums, trusts, common funds aimed at the development of real estate projects
It also provides for a tax revaluuous on properties affected by the generation of profits paying a special aliquot of 15%
REGIONAL ECONOMIES
PROMOTING REGIONAL ECONOMIES
Reduces VAT aliquot for gas, water and electricity for regional economies.
Eliminates Export Duties for products from regional economies. Many of them are kept at $3 but with the possibility of being increased without congressional intervention.
It facilitates the recovery of VAT investments to those activities that have a reduced aliquot for the sale of their products.
It recovers the system of updating the Minimum NOT Taxable to the Employer Contributions for The Activities of the Regional Economies established in February 2019 and which was frozen by law 27.541 on Solidarity and Productive Reactivation. In addition to incorporating some activities that were not reached
It allows transient workers in regional economies to be employed without losing social benefits. Yes well this is already regulated for many benefits, just some of those generated by COVID are not being perceived.
It creates within the Federal Agricultural Council (CFA) the Technical Observatory for the Development of Regional Economies. Although within the CFA there was a commission representing the provinces working on these issues, their activity is formalized, a subject that was always requested by the Ministers of Agriculture or Production representing all the provinces in the CFA.
Tourism
ECONOMIC, PRODUCTIVE, FINANCIAL AND FISCAL EMERGENCY TO THE TOURISM SECTOR
Emergency declaration for one year from the end of the Compulsory Isolation providing for the incorporation of seasonal tourist activities.
Gradual reduction of Employer Contributions and tax extension. The release of taxes and collections on the sector is also envisaged.
Tax payment plan with a rate of no more than 1% and waits 90 days from the end of Isolation nationwide.
Suspension of tax executions
Special credit line with subsidized rate and grace period of 12 months from the time the sector is enabled to resume the activity, being able to take as credit basis the equivalent of the billing of the previous year.
Application of the theory of unforeseenness and shared effort on consumer claims that have purchased tourist packages allowing the sector to offer the rescheduling of packages for when the activity resumes.
Access of the entire Sector to the REPRO by simplified process, during the duration of the emergency and NOVENTA (90) days after the completion of the same.
Suspension of the PAIS tax for the sale of tickets and accommodation, in order to facilitate their rescheduling and those linked to the character of agents of collection and settlement thereof, of the wholesale or retail travel and tourism agencies, which make the collection of the services.
Creation of the Federal Committee for the Coordination of Tourism Emergency Policies, which will consist of a representative of the Ministry of Economy, a representative of the Ministry of Tourism and Sports and a representative of the Ministry of Productive Development, to promote policies of general scope through the creation of new instruments to support the activity.
Subsidies for current utility rates for the emergency-covered sector.
RETIREES AND OTHER VULNERABLE SECTORS
VAT refund to these sectors
Aimed at retirees and other vulnerable sectors for basic food basket products
Return of 100% of VAT up to a cap of 20% of the income they receive in 24 hours in their bank accounts.
Shops
COMMERCIAL RENTS
It provides that the state of force majeure required for the application of Article 1203 of the CCyCN for commercial locations has been configured since the validity of the Compulsory Isolation (Decree No. 297/2020), provided that the effects of the aforementioned rule have prevented the locator from using or enjoying the property.
Allows the locator to deduct up to one hundred percent (100%) of the location value of the property not entered in the tax year 2020 of the Income Tax, as long as no refinancing of that value has been agreed, with more than a THREETH PERCENT (30%) additional in the special deduction.
In the event of a refinancing, the location value shall be deemed accrued in the financial year and the deduction to be calculated shall be up to THIRTY PER HUNDRED (30%) of that value.
In both cases, the deduction proceeds to the limit of the taxable income corresponding to that property.
