08/04/2021 3:16 AM
Updated 08/04/2021 7:22 AM
The Government published this Wednesday in the Official Gazette the amendment to the Income Tax Law that was approved last month by Congress with the aim of establishing tax incentive measures, in order to
in financial instruments issued in pesos.
The amendment proposes exemption from income tax on
interest on deposits in pesos
with an adjustment clause (for example, UVAs fixed terms) and on the return on placements in instruments issued in national currency intended to promote productive investment.
The initiative, which was approved on July 2 by Deputies and on July 15 had the final sanction of the Senate, also modifies the tax on
The proposal arose from a bill sent by the Executive Power in October 2020 that provides for the incorporation of new exemptions, effective as of
fiscal period 2021
, which are intended to encourage investments in currency through fiscal policy. national.
The new exemptions are applicable to negotiable obligations issued in national currency that are placed by public offering.
In addition, instruments issued in national currency destined to promote productive investment, which are established by the national Executive Power, are included, provided that the norm that regulates them so provides.
The modification also adds to
the shares of common investment funds
(FCI) and the certificates of participation and securities representing the trust debt of financial trusts, which had been placed by public offering with authorization from the National Securities Commission.
The rule clarifies that the measure is applicable provided that the main underlying asset is made up of the following deposits and exempt assets: (I) titles, bonds and other securities issued by the Nation, the provinces, the municipalities and the Autonomous City of Buenos ;
(II) deposits in Argentine and foreign currency made in the country, at a fixed term or in savings accounts;
The regulations must define what minimum percentage these investments must represent of the total assets of the FCIs or financial trusts.
The exemption of mutual fund shares and investments in financial trusts are not limited to the main underlying assets being in local currency.
It was clarified in the law that "the percentage that will be defined in the regulations will not be considered fulfilled, if there is a modification in the composition of the deposits and assets that decreases them below that percentage,
" during a continuous period or discontinuous of at least 30 days in a calendar year
or the equivalent to the proportion of days considering the moment of entry into the equity of the shares or participation certificates or securities representing trust debt until December 31 ".
Earnings: in September the floor of $ 150,000 would rise
At the same time, the Government is analyzing the possibility of raising the floor from which workers begin to pay income tax in September.
The decree would be published this month and would raise the floor that is currently for gross salaries of up to $ 150,000 per month.
The president of the Chamber of Deputies, Sergio Massa, had anticipated that the non-taxable minimum would be raised.
The decision is given by the reopening of joint ventures, in order to prevent
1.2 million workers from being harmed
The amendment to the Income Tax law approved last April allows the new wage guidelines to be considered and the Government has the power to update the floor without going through Congress again.
Now it remains to know what the amount of the new floor will be.
An SME receives help to expand its production and exports to the region
Debt: why the strategy of restructuring without a plan and an agreement with the IMF did not work