In the list of increases planned for January, this year stands out the increase in domestic taxes which was voted into the 2023 Budget Law and which will be applied to some electronic products.
“Products that are now taxed at 17% are now taxed at 19% and, if they are manufactured in Tierra del Fuego by companies benefiting from the Law 19.640 regime, they go from 6.55% to 9.5%, made except for car equipment radio stations, which pay 0%”, explains Sebastián M. Domínguez, CEO of SDC Asesores Tributarios.
The specialist clarifies that, like the internal tax applies to the domestic tax itself, the effect of the increase is even greater.
Thus, 19% is actually 23.46% effective and 9.5% becomes 10.50%.
“That implies a real fee, since the new effective domestic tax rates increase by 14.55% and 49.79% compared to the previous rates,” says Domínguez.
The list of electronic products and household appliances, which may be changed in the future, includes the equipment of air conditioning, cell phones, monitors, projectors, televisions, stereosmicrowave ovens, heating devices and hair dryers, among others.
“Although many companies have products in inventory that are not affected by the rate increase, Their prices are also likely to go up because then they will have to be replaced at updated prices”, says the taxman.
Today, due to the future increase in internal taxes on these products, it may be convenient to anticipate purchases before the new year.
In addition to the impact it could have on domestic consumption, Domínguez estimates that “this tax increase could have an impact on the investments made in this type of product in companies, affecting productivity”.
In the tax reform of 2017, through Law 27.430, a gradual tax reduction program encourage investment in these products.
“However, the current government changed course and proposed rate hikes that were approved by Congress,” Domínguez said.
NEITHER
Source: Clarin
