The fiscal impact of the proposed tax amendments included in the Bill on Palliative and Relevant Tax Measures was estimated on the basis of the theoretical tax determined for the year 2024 and based on a macroeconomic scenario based on the most recent projections of the Ministry of Economy available to the OPC.
- Due to the impossibility of anticipating taxpayers’ decisions, the fiscal impact of the Exceptional Regularization Regime for Tax, Customs and Social Security Obligations and the Asset Regularization Regime could not be estimated.
- The reform of the Wealth Tax would reduce the burden of this tax in a range of 0.29% to 0.61% of GDP, depending on the fiscal year and the assumptions considered.
- The abolition of the Real Estate Transfer Tax would have a theoretical estimated impact of 0.0161% the GDP for the 2024 fiscal year and 0.125% the GDP assuming an eight-month impact during 2024.
- The income tax reform would increase revenues from this tax by 0.5004% of GDP based on the full fiscal year 2024. The increase would be 0.3004% assuming an application of seven months during 2024.
- The reform of the Simplified Regime would have a positive impact on the collection of the Monotributo (Simplified Regime for Small Taxpayers) (+0.0888%), Social Security System (+0.0351%) and the Social Security Healthcare System (+0.0967%), and a negative impact on the Income Tax (-0.1474%).
