THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

The Argentine Congressional Budget Office presented the latest published report on the Analysis of the National Government Budget Execution – January 2024 to national legislators and their advisors.

This is one of the periodic works conducted by the OPC with the purpose of monitoring revenues collected and expenditures accrued.

The presentation was given by the OPC Director, Gabriel Esterelles, together with the directors of Sustainability and Public Debt Analysis, Joel Vaisman; of Fiscal and Tax Analysis, Martín López Amorós; of Budget Analysis, Ignacio Lohle, and the analyst of this last directorate, María Laura Cafarelli.

The purpose of the online meeting was to provide members of the Chamber of Deputies and the Senate, as well as their assistants, with technical elements to improve the understanding of the monthly report disseminated through the OPC web page, offering, at the same time, the possibility of clarifying doubts about the methodology used and the results obtained.

The good reception of this new work modality was the basis for the decision to repeat it periodically to consolidate the technical dialogue between the OPC and the National Congress.

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 3 – TAX MEASURES – FIRST PART

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 3 – TAX MEASURES – FIRST PART

This report presents the analysis of a first group of the tax measures contained in the Bill “Bases and Starting Point for the Freedom of Argentines”, as well as an estimate of their fiscal cost wherever possible. The report includes:

  • The Regime on Regularization of Tax, Customs and Social Security Obligations provides greater benefits than those granted by current regulations. The fiscal impact of this Regime is not estimated due to the large number of assumptions that should be made with respect to individual taxpayers’ decisions.
  • Tax on the Transfer of Real Estate of Individuals and Undivided Estates. The Bill proposes the elimination of this tax, which in the absence of a regulatory change would have meant an estimated revenue of 0.0153% of GDP in 2024.
  • The increase of Export Duties in force, or their application on non-taxed positions could increase revenues by 0.42% of GDP.
  • The fiscal transparency regime for consumers, which obliges to differentiate VAT on invoices regardless of the tax category of the purchaser, has no fiscal impact.
  • The Incentive Regime for Large Investments does not reduce tax revenues because it involves new projects which, if implemented, would generate a tax expenditure due to the promised tax benefits.
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