monotributo - Oficina de Presupuesto del Congreso

BILL ON PALLIATIVE AND RELEVANT TAX MEASURES – UPDATE AFTER MAJORITY REPORT OF THE SENATE

by Nicolas Perez | Jun 11, 2024 | Cost Estimates

This report analyzes the changes introduced to the original text of the Palliative and Relevant Tax Measures Law and its fiscal impact after the approval of the Chamber of Deputies and in the majority report of the Senate.

In terms of fiscal impact, the following changes were identified:

The increase in the benefit to compliant taxpayers of the Wealth Tax could potentially increase the fiscal cost of the amendments in tax years 2023 to 2025, as compared to the original text of the bill.
The changes to the text of the Income Tax reform would reduce the impact of these measures on the assessed tax in 2024 from 0.5004% of GDP in the original text to 0.4303% under the text approved by the Chamber of Deputies and to 0.4111% of GDP under the text of the majority report of the Senate.
As for the Simplified Regime for Small Taxpayers, the differentiated treatment granted to social effectors in the majority report of the Senate would moderate the expected increase in the collection of the integrated tax (monotributo) and the health insurance system (obras sociales).

TRAINING ON PUBLIC FINANCE FOR LEGISLATIVE ADVISORS

by Nicolas Perez | Apr 11, 2024 | Activities

On Tuesday, April 9, the Argentine Congressional Budget Office (OPC) initiated a training program on issues related to public finances for the advisors of deputies and senators of the Congress of the Nation. The Director-General of the OPC, Gabriel Esterelles, together with the Director of Parliamentary Training of the Senate, Camila Duro, opened the training program at the Senate.

The purpose of the program is to introduce key issues for the interpretation of initiatives related to public resources and budget design to those who assist legislators in their work.

The program, jointly organized by the OPC and the Directorate of Parliamentary Training of the Senate, was designed around three main topics: taxes, expenditures and public credit, each of them to be addressed in two classes of two hours each, twice a week.

The sequence of face-to-face meetings is being held in different spaces of each Chamber to promote direct contact and facilitate the exchange of ideas.
This training plan, which will conclude on April 25, will be delivered by the directors of the OPC, with the assistance of their analysts:
Martín López Amorós, director of Fiscal Analysis, with Pedro Velazco and Emilio Nastri; Ignacio Lohlé, director of Budget Analysis, together with Laura Cafarelli, Julieta Olivieri and Romina Muras; Joel Vaisman, director of Sustainability and Public Debt Analysis, with Eugenia Carrasco.

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – FEBRUARY 2024

by Nicolas Perez | Mar 7, 2024 | Budget Execution

Due to a decrease in expenditures (-23.8% YoY) and a slight increase in revenues (+0.4% YoY), in the first two months of the year, the National Government recorded a financial surplus 150.0% higher in real terms than in the same period of the previous year.

The primary surplus, which does not include interest payments, was 1,805.5% higher than that obtained a year earlier.
Total revenues grew 0.4% in the year-on-year comparison, driven by increases in the PAIS Tax (405.9% YoY), in Export Duties (70.9% YoY) and in VAT (15.4% YoY). These increases were partially offset by the decrease in resources from Social Security (-25.1% YoY) and Income Tax (-36.5% YoY).
Total National Government expenditures recorded a real fall of 23.8% YoY in the first two months of the year and the cut in primary expenditures, which does not include the increase in debt interest, rose to 33.6% YoY.
Pensions (-33.0% YoY real), energy subsidies (-59.5% YoY real), capital expenditures (-82.4% YoY real) and social programs (-29.9% YoY real) were the items that most contributed to the reduction in expenditures. However, debt interest grew 34.2% YoY.
In February, the financial result was in deficit (-ARS186.635 billion), although in the first two months of the year the surplus was maintained (ARS1,020.296 billion), with levels above the average of a 15-year cycle.
Total accrued expenditures represented 24.0% of the budget, which is an extension of the budget in force during 2023.

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – FEBRUARY 2024

THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

by Nicolas Perez | Feb 16, 2024 | Activities

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.