Personal Assets: its updating is in danger / Argentina News

The Senate unanimously approved a bill to raise the value of the estate from $ 2 million to $ 6 million from which the tax is paid.

In early November, the Senate unanimously approved a bill to increase the value of the patrimony from $ 2 million to $ 6 million from which the Personal Property Tax is taxed.

The text was turned over to Deputies, but it is not yet on the agenda to be discussed. Indeed, was not included in the last meeting of the Budget and Finance Committee, in which opinions were given to various initiatives.

If it did not become law before 2022 begins, this would be the third year with the same non-taxable minimum. If there is no update, more people would be reached by Personal Assets, when they did not necessarily have a capital improvement and, even, when in real terms their assets are probably of a value less than the years in which they were not taxed, or they did so with lower rates.

Go up from the Personal Property floor

At the beginning of November, the Senate approved and passed to the Chamber of Deputies the bill that proposes the raise the non-taxable minimum of the Personal Property tax, with the aim of reducing the number of people reached by the tax.

Personal Assets: updating is in jeopardy and could reach more taxpayers

The initiative, proposed by Carlos Caserio (FdT) from Cordoba, was voted unanimously (50 positive votes). A different wording was approved on the premises to which it was originally proposed, after conversations between the ruling party with the Ministry of Economy, for which the amounts were changed.

According to the text, article 24 of Law 27,480 is modified, in order to establish that people who have assets with equal values ​​or i will not pay this tax.Less than 6 million pesos. Currently the estimated amount is 2 million pesos, and the original project of Caserio He was talking about 8 million.

In addition, it indicates that if they are properties intended for the taxpayer’s house-room, or of the deceased in the case of undivided inheritance, they will not be covered by the tax when are equal to or less than 30 million pesos. Currently, this amount is at 18 million pesos and the initial text estimated 50 million.

Access the full text of the bill that entered the Deputies with the respective modifications:

When opening the debate in the Senate, Caserio argued that “It is insufficient what is computed today in such a concept” and with the current tax minimum “we would begin to tax taxpayers that it is not reasonable to do so, and that is what is already happening.” “Any family that owns a small car and land would be taxed,” he explained, something that he considered “an unfair thing.” In addition, he said that there are many taxpayers who “do not even know that they have to pay it.”

Regarding the project, the president of the Budget and Finance Commission pointed out that “article 27 of the (current) law is also modified so that the update is automatic in December of each year and the wholesale price index is used at a general level. “.

“It is a fair, sensible law that helps in a difficult moment in Argentina, where Argentines are coming out of the pandemic, where recovery is being achieved,” said the Cordovan, who estimated that “around 600 thousand people are the that they are going to stop paying the tribute, “says Parliamentarian.

Then, Laura Rodríguez Machado, from Córdoba, anticipated the vote in favor of the interblock, but he warned that “the law is scarce, it is not enough”, because anyone who has “a refrigerator, a washing machine, a television, maybe a microwave and a small car is going to pay for Personal Goods, even without having your own house and no property“.

The Senator of the Pro He recalled that in the last reform of this tax, in 2018, “in real terms the ceiling for Personal Assets reached about $ 53,000 at that time,” while this initiative “is equivalent to 30 thousand current dollars”. “It is an express recognition by the ruling bloc of the tremendous situation that we Argentines are going through,” he said.

For the Federal Parliamentary interblock, the Salta Juan Carlos Romero regretted that a text is voted “much more restrictive than the original intention of the senator for Córdoba“, alluding to Caserio, because” in a stage like the country is living, with enormous inflation, these figures are meager. ”

“It’s a relief, not enough”, he insisted and affirmed that he “understood” that “those who manage the Treasury are taking care of the box”, but while “it is spent excessively in other areas” as happens “with the donation of goods with the slogan ‘little plate’ in people’s pockets” questioned the senator.

Finally, the head of the Frente de Todos, José Mayans, once again recalled the economic policy of former president Mauricio Macri and emphasized that “magic cannot be done here,” because there is “a state that is weak due to the debt we have.” . “We fixed one part of the debt, but we are missing the other part, which is a commitment that cannot be fulfilled,” he stressed, referring to the credit with the IMF.

“The pandemic produced a worldwide fall” and “pressure on prices, mainly in food,” added the Formosa, who stressed that “in countries like ours, which was in default, there is a weakened economy.”

Mayans claimed thate “two million pesos is a base that does not correspond today”, and this project “is a contribution that comes in the sense of contributing to the economic problem thatwhat the workers have. ”

In the end, when reporting the modifications, Caserio explained that “when we go from 2 to 6 million we are contemplating 100% inflation of that period, including calculating that of 2021. “” In Argentina looking at things in dollar value is complex, “he replied to Rodríguez Machado.

However, he admitted that “with the issue of the house-room, yes, inflation does not matter, but an analysis with the economic team made that the fiscal cost was a bit excessive for what was considered with a budget already in force” . “Although it is not everything we wanted, I think we have ahead to be a little more fair,” he concluded.

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