The Legislative of the Province of Buenos Aires has approved the 2023 Budget and the Tax Law

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With 12 hours of delay compared to the scheduled time for the start of the extraordinary session, the Chamber of Deputies of the Province of Buenos Aires gave approval to Budget 2023then passed after 4 am this Friday in the Senate .

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Specifically, the budget prepared by the administration of the governor of Buenos Aires, Axel Kicillof, determines expenditures of more than 6.9 trillion pesos for next year, a primary deficit of 81 billion and a financial deficit of 249 billion.

Financing requests have also been stipulated with international organizations in foreign and local currency for 168,062 million dollars.

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Earlier this Thursday, serious incidents had been recorded outside the legislature, in La Plata. There was fire, shoving and stones between the leftist movements and the police. In particular, representatives of the Federation of Municipal Unions of Buenos Aires met the agents in front of the building’s parking lot.

After several hours of negotiation, session started a few minutes before midnight. With the support of the opposition, the Frente de Todos managed to approve after 1:30 in the morning the General Budget of the Public Administration of the Province of Buenos Aires for the fiscal year 2023, which provides for expenses of 6.9 trillion pesos. Avanza Libertad and the Left Front voted against.

The main point of disagreement was the Municipal Infrastructure Fund (FIM), which was not foreseen in the project presented by Governor Axel Kicillof. After several twists and turns, the number settled at $57.5 billion. To this will be added $2.5 billion as compensation for the delay of the FIM 2022.

Furthermore, conflict arose around the creation of 7,000 new officers for the Buenos Aires prison service, after Juntos claimed that Kicillof did not have the power to register all those positions immediately, but rather when vacancies arise. In that context, the FdT yielded it was agreed to vote 2,500 seats in that area.

The legislature of Buenos Aires approved the tax law

The Chamber of Deputies of the Province of Buenos Aires has also approved the Tax lawwhich provides for a lower tax burden for over 90% of taxpayers.

In respect of Gross Income, small and medium-sized businesses benefit from the differentiated tariff, through the 95% increase in the maximum billing amount. Furthermore, new taxpayers of the Simplified Regime are exempt for 12 months.

“With the aim of creating an economy with a greater degree of formality, accompanying small taxpayers from the State, the incentive provided for by the 12-month exemption for those new mono-tax payers of the Simplified gross income regime“, it’s specified.

On the other hand, progressive limits have been set for fiscal growth with respect to the previous year in the Tax on Real Estate, both Rural and Urban. In general, increases will be 60% or less – the higher the equity, the greater the increase. For him Car tax a ceiling of 40% has been established.

Source: Clarin

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