On Thursday at 11 pm, in Deputies, the Minister of Economy Sergio Massa presented the Budget. Photo of the Reuters file
The Budget project that the Ministry of Economy sent to the Deputies at the last minute on Thursday, in addition to giving some clues about inflation, the dollar and the level of deficit expected for 2023, also takes the opportunity to incorporate articles into the laws already approved.
Two articles of the project incorporate new destinations of funds that are laundered by law On 22 August, no. 27,613 – called Incentive for investments, construction and Argentine production.
Article 71 of the Budget provides that the declared funds (which must correspond between 5 and 20% according to the original regulation) “can also be used for purchase of a used property “, but this property must be used as a dwelling the painter and his family or, “for a period of not less than 10 years, to rent with exclusive home-local (i.e. non-commercial) destination.
Until now, the recycled dollars could only be used to purchase new or under construction units. The period for recycling, in this case, would be 6 monthsas the original law says.
The purchase value of the property It must be equal to or less than twice the non-taxable minimum of the tax on real estate intended for the home-premises as at 31 December of the tax period immediately preceding the acquisition.
“We do not yet know what the non-taxable minimum will be for 2022 because we have to wait until the CPI of October 2022 is known to compare it with October 2021. If we estimate that the year-over-year variation is 70%, the value of the property cannot exceed $ 106,800,000 ($ 30 million x 1.70 x 2), “estimates the tax expert Sebastián Domínguez. According to the specialist,” they will frame a large number of properties in the possibility of being acquired. “
Sergio Massa, on the other hand, in article 72 complied with a request that the CGERA, which brings together industrial SMEs, had made this week: qIt is allowed to use undeclared dollars to enter the country’s goods from abroadan advantage that only the construction sector has had due to money laundering.
The Budget creates the “Argentine Investment and Production Incentive Regime” through which residents of Argentina will be able to launder dollars at home and abroad for one year, but only to pay for imports for consumption, including services, destined for production processes.
The funds must be deposited in a special deposit and cancellation account for Argentine investments and production “in the manner and within the terms established by AFIP and the Central Bank”.
The tax they have to pay in this case is similar to that established for Construction:
- From the date of entry into force of the Scheme and up to 90 calendar days: 5%.
- From day 90 to day 180: 10%.
- From day 180 to the year: 20%.
Dollars will be valued at the Banco Nación purchase exchange rate.
NEITHER
Source: Clarin
