The Limited Times

Now you can see non-English news...

The Buenos Aires government has already collected $ 1,900 million for the tax that applies to the Leliq

2021-03-08T18:16:25.433Z


It is the amount that the banks settled for the operations carried out in January. Gustavo Bazzan 03/08/2021 2:51 PM Clarín.com Economy Updated 03/08/2021 2:51 PM The Buenos Aires government began to receive the first funds by applying the 8% rate of gross income on the interest that financial institutions receive for investing their excess liquidity in the Leliq (liquidity bills ) issued by the Central Bank and which pay paying a rate of 38% per year. The tax applies to passi


Gustavo Bazzan

03/08/2021 2:51 PM

  • Clarín.com

  • Economy

Updated 03/08/2021 2:51 PM

The Buenos Aires government began to receive the first funds by applying the 8% rate of gross income

on the interest that financial institutions receive for investing their excess liquidity in the Leliq

(liquidity

bills

) issued by the Central Bank and which pay paying a rate of 38% per year.

The tax applies to

passive repo

operations

, which today yield 32% per year.

In the collection corresponding to the month of January, which was collected in February to the expired month,

the Buenos Aires coffers pocketed about 1,900 million pesos,

according to sources from the tax area of ​​the Horacio Rodríguez Larreta government commented to this newspaper.

The amount entered is in line with the projection that the Buenos Aires authorities had made at the time of announcing the tax.

As can be seen, the government of the City of Buenos Aires turned a

deaf ear to the claims

that Miguel Pesce from the

Central Bank,

as well as from the Ministry of Economy headed by

Martín Guzmán

, made him to desist from applying this tax, given that they considered inappropriate said tax on a

monetary regulation instrument such

as the Leliq.

The application of the Gross Income tax on the Leliq was the answer that Rodríguez Larreta found at hand to compensate, partially at least, it

removes it in the federal tax sharing applied by the national government.

The calculations of the Buenos Aires officials show a loss of income of

65,000 million pesos a year

.

To compensate for this lack of funds, they apply the tax on the leliq and also on the

consumption with credit cards

that is registered in each card established in the city of Buenos Aires.

On this point, the authorities admitted that due to the drop in credit card use that has been observed so far this year, income is lower than expected.

The City hopes that the

Supreme Court will

resolve the claim filed by the City for the return of the coparticipation funds stolen by a Government DNU and by the law voted by Congress at the end of last year.

In the middle of this fight, Minister Martín Guzmán expressed, in a letter sent to Rodríguez Larreta, that "we must not continue with bad examples. Taxing a monetary policy instrument with Gross Income

generates a problem for the rest of the country. , to all the provinces and to the city of Buenos Aires ".

Guzmán believes that the tax "implies making the cost of credit more expensive and all companies are harmed in the possibility of generating work and investing"

.

For Guzmán, appealing to this funding resource "is not a sensible way to act, it is not a responsible way from the point of view of federalism and the national government is going to use all its tools to

prevent this from happening

.

"

In similar terms, the head of the Central Bank,

Miguel Pesce

, had expressed himself

: “I find myself in the need to ask you to arbitrate the necessary measures in order to avoid taking tax actions that distort the policies carried out by the BCRA ”.

Pesce also argued that the Supreme Court of Justice has jurisprudence on the impossibility of districts to "advance on BCRA regulations."

The Buenos Aires government ignored the claims.

And in fact, the funds that the banks liquidate in Rents are already entering the treasury.

Look also

Income Tax: they will return in April what was already paid in January, February and March

The Government asked businessmen to review the prices of food supplies

Source: clarin

All business articles on 2021-03-08

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.