The Bill proposes a modification of the Income Tax for the fourth category as from the 2024 tax period. Specifically, it establishes a schedular tax for such income -with certain exceptions-, to which an annual non-taxable minimum of 180 minimum vital and mobile salaries (SMVM) and a new table of marginal tax rates, also defined according to the value of the SMVM, are applied.
As a result of a greater real fall in expenditures than in revenues, in the first eight months of the year the financial (11.2%), primary (26%), and economic (9.9%) deficits were reduced in real terms.
Bill S-2835-2022 proposes a promotion regime to encourage the production and industrial processing of table olives, marketable extra virgin olive oil and its derivatives in the Patagonian region. It proposes the following benefits for producers located in the region and whose production has an extension of up to 15 hectares under agro-ecological conditions: non-reimbursable contributions (ANR), whose maximum amount will be determined by the enforcement authority and loans at subsidized rates.
The estimation of the fiscal impact of the proposed measure would require information on the potential beneficiaries, as well as further specification of other relevant parameters.
The new text of the Bill specifies the composition of the governing body of the National Dance Institute, but not the entire staff.
Personnel and operating expenses are subject to this unspecified structure, so it is not possible to make an estimate of expenditures.
Annual revenues derived from the allocation of current taxes would total ARS1.618 billion at 2023 values, without considering other revenue sources, which are subject to future decisions.
On Tuesday, September 5, the Argentine Congressional Budget Office (OPC) gave a training course on the interpretation of the Budget Bill to parliamentary advisors.
The workshop was held in the Moreno Frondizi room of the Senate and was attended by advisors from the Budget and Finance Committees of both chambers. The activity was opened by the Director-General of the OPC, Gabriel Esterelles.
The contents were presented by Julieta Olivieri, an analyst of the Directorate of Budget Analysis of the OPC, with the assistance of her colleagues Laura Cafarelli and Romina Muras.
The training course was entitled “Keys to understand the Budget Bill, general content” with the purpose of providing some tools for understanding this initiative before the Executive Branch submits its proposal for the next fiscal year to Congress.
The course is part of a series of activities planned by the OPC to technically assist legislators in this analysis.
Starting on Thursday 7, a virtual workshop of three 90-minute modules will be held: one on general concepts, another on financing and the last one on revenues. This workshop will be open to all advisors of both chambers.
