Argentina

Chamber of Deputies Gives Green Light to Tax Reform in Argentina

The Chamber of Deputies of Argentina gave the green light to the neoliberal tax reforms promoted by the Government of Mauricio Macri
Chamber of Deputies Gives Green Light to Tax Reform in Argentina

In an intense day until almost four in the morning, the Chamber of Deputies of Argentina gave the green light to another of the reforms promoted by the Government: the tax reform.

In the midst of the noise of the pot-banging that was heard late in the night in protest against the sanction of the pension reform, which is already a law, the initiative that seeks to reduce the tax pressure in a span of five years obtained the necessary votes and now it will reach the Senate for its approval.

In total there were 146 votes in favor, 77 against and 18 abstentions, while the debate in the Upper House begins today.

The Cambiemos Alliance passed its second test and managed to approve the tax reform, reflected El Parlamentario portal.

With this reform, one of the many that the ruling political force drives, they seek to reduce tax pressure in a period of five years.

When intervening as a strong voice of the opposition, the deputy for the Front for Victory and former Minister of Economy, Axel Kicillof, argued that the reform in discussion ‘forgives taxes to those who earn the most and tries to transfer the tax burden to consumers and the poor.’

‘This law is part of the package of neoliberal reforms that the government had hidden throughout the campaign, and that came to light as soon as the elections ended,’ he said.

Meanwhile, Deputy Marco Lavagna, of the Renewal Front, said that the tax project ‘does not work on the merits of the matter, which is to change the tax matrix in Argentina,’ and mentioned positive and negative points.

On behalf of the ruling party, Deputy Luciano Laspina, president of the Budget and Finance Committee, defended the initiative, saying that ‘we are facing the most ambitious and profound reform that has been made in recent decades.’

The project approved in the Lower House contemplates a discussion of profits for companies that reinvest their dividends, taxes financial income, and gradually decreases employer contributions, in order to be able to reduce the tax burden gradually over a period of time of five years, reflected, on the other hand, the media Ámbito Financiero.

Source/Prensa Latina

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