More and more players in the financial system are joining the request to the Government to once again include in the parliamentary discussion an article that provides tax breaks for small businesses that use digital payment methods.
While the debate on the Basis Act that the Executive seeks to approve resumes in Congress, the chamber that brings together the country’s credit, debit and prepaid cards, ATACYC has presented a joint statement to ask that the tax relief package be reconsidered for these small traders. This adds to the complaint made earlier this week by the Argentine Chamber of Fintech.
“This article was fundamental in supporting small and medium-sized businesses, allowing them a significant reduction in the tax burden associated with electronic sales up to approximately 16 million pesos per month (30,000 units of purchase value),” he recalled Atacyc.
The article in question was part of the tax chapter of the Omnibus law, which was removed by the Government last week to bring forward the approval of this law. According to industry sources, banks and businesses are also asking for this article to be reinstated.
The Chamber underlined that “it has historically worked side by side with the government to implement beneficial actions for the most vulnerable sections of society” and listed actions such as VAT reimbursement, subsidized installment payments or the payment of social plans. In this sense, he said he sees this decision: “as an obstacle to the digitalization of payments, a process that already faces significant challenges.”
“The repeal of this article represents a setback in efforts to promote an inclusive financial system and the digitalization of the Argentine economy,” the business group noted. “Instead of encouraging merchants to adopt modern technologies, the elimination of the tax benefit discourages the formalization of transactions, leading to less traceability and security in business operations”
“The universality and convenience of our payment methods are a lifesaver in urgent situations and provide unprecedented security compared to cash,” they said.
“ATACYC asks the authorities to reconsider the measure and invites them to continue working together on policies that promote financial inclusion and the formalization of the economy, ensuring an environment conducive to the development of small taxpayers and the sustainable growth of the country”, he completed the document.
Source: Clarin