So far in 2020, 18 taxes (including new, aliquot increases or one-time “contributions”) had and will have a significant impact on productive investment, increasing a context of extreme difficulty for the productive sector. Of the total, 8 will be charged from 2021. The data was compiled by the Fundación Libertad y Progreso.
Among the most prominent is the PAIS tax that, since its creation and until October, collected $ 118,996 million, representing 2.24% of what was collected in 2020. For its part, Personal Assets, from January to October 2020 , raised 557% more ($ 161,579 million) than in January October 2019 ($ 24,569 million), after the increase in aliquots.
“The political leadership does not understand that the economic crisis is terminal. And that it is due to the enormous weight of the State that overwhelms the private sector, increasing or creating new taxes, “said Agustín Etchebarne, General Director at the Fundación Libertad y Progreso and highlighted that” the City of Buenos Aires sought to supply the point of co-participation with more taxation”.
Regarding the wealth tax, which is still debated in Congress, Etchebarne warned that it “increases an exodus of capital and capitalists that will result in fewer jobs, lower wages and greater poverty.”
In addition to the PAIS tax, the rise in Personal Assets and the “solidarity contribution”, the liberal think-tank highlights the rise in labor costs; Company earnings (the drop from 30% to 25% was suspended); raise of Tax to the Check; withholdings on exports; adjustment for inflation (went from being quarterly to being semi-annual); perception of profits from the purchase of dollars and the controversial “wind tax” in Chubut.
Starting in 2021, the rise from Internal Taxes to electronic will begin to govern; Teacher Incentive Fund; raise the tax on online gambling; contribution on auto insurance premiums; contribution on insurance premiums for fire management and tax on credit card stamps (CABA); suspension of the IIBB exemption for Passes and Leliqs (CABA) and adjustment for inflation of the ABL (CABA).
Diego Piccardo, economist at the Fundación Libertad y Progreso, said that “in an economy that was already coming from a very strong crisis, what companies need is to alleviate the tax burden so that they can dedicate themselves to what is important: producing and generating genuine employment. With such a weight on their shoulders, the State pushes them into bankruptcy or informality ”.
“The vast majority of countries in the world applied a reduction in the tax burden so that companies can stay afloat at this difficult time. Argentina deserves and must face a systematized plan of structural reforms that will take it out of decadence and allow it to be directed on a virtuous path ”, the Liberals’ report completed.