Macri has put retentions back to the mining company: between 5 and 10%



The economic policy with which Macri tries to cope with the current crisis will be decided and announced on Monday, Clarn said. Among the decisions there is one that directly affects San Juan: the return of the deductions on mining exports.

According to the national newspaper, the Dujovne team applied gravities to the agro-industrial sectors, the field and also to the mining company. This last sector had stopped paying retentions in 2016, following an announcement by Mauricio Macri himself in San Juan. But faced with the current crisis, they decided to raise funds with these tools to get the Argentinian economy out of the budget deficit.

According to Clarn, these measures will be announced while Dujovne and Caputo are traveling to Washington, where they meet representatives of the IMF to make the current agreement more flexible and enable the Central Bank to intervene more vigorously on the foreign exchange market.

The proposal with which Dujovne tries to convince Lagarde first and the management of the IMF is to deepen the adjustment: switching from a ceiling deficit of 1.3% to 0% in 2019.

With 70% of Treasury expenditure linked to salaries, retirement and social assistance, the goal is to continue lowering subsidies and cutting back on public works. But one year after the elections that option is refuted.

That is why Dujovne intends to increase revenues. The plan includes the application of general deductions of between 5 and 10% on exports from the field, industry and mining. It will also be determined that the tax reduction provided for in the tax reform will be frozen.

It is also under analysis, but with fewer opportunities to flourish, apply a tax on tourism abroad, bring the rate of personal property to 1% and implement changes to the highest category for the highest category to leave that regime and VAT. to pay and earn.

The goal is to reach an agreement with the IMF on a new payout plan. According to the original agreement, of the US $ 50,000 million contributed by the IMF, US $ 15,000 million will come in three tranches this year and the rest in a staggered way until 2021. Now we are striving to accelerate the arrival of the money to assure the market that Argentina is solid. to cover the 2019 maturities.

With the dollar in the $ 40 field and despite the complaints from the field, imposing retention is the measure that wakes up more consensus, outside and within the government.

Once the market causes the exchange jump, you need to find the mechanism for the treasury to take advantage of that advantage. You can not allow the market to coordinate the redistribution of revenues, "said Marina Dal Poggetto, director of the Eco Go consultancy." The retentions have dual advantages: they close fiscally and moderate the transfer to price on the domestic market, he added. For the economist, setting tourist tax with a dollar is up to $ 40 "prico". It would be more useful if public banks stop selling tickets in installments.

Martn Alfie, director of Radar Consultores, agreed that with the dollar for $ 38 there is a certain factor that will enable us to determine this measure that will not be entirely positive either. Politically it has a price, but in this context the expenditure is more recessive than raising taxes.

For Alfie, "a tax on tourism and not the purchase of foreign currency is very easy to avoid, it is more symbolic than the tax effect it can have, the monotributo is quite complicated, I do not see it as a solution. most logical when we think about dividing the adjustment in a more equitable manner The brake on the reduction of employers' contributions will not be so negative.


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Macri has put retentions back to the mining company: between 5 and 10%



The economic policy with which Macri tries to cope with the current crisis will be decided and announced on Monday, Clarn said. Among the decisions there is one that directly affects San Juan: the return of the deductions on mining exports.

According to the national newspaper, the Dujovne team applied gravities to the agro-industrial sectors, the field and also to the mining company. This last sector had stopped paying retentions in 2016, following an announcement by Mauricio Macri himself in San Juan. But faced with the current crisis, they decided to raise funds with these tools to get the Argentinian economy out of the budget deficit.

According to Clarn, these measures will be announced while Dujovne and Caputo are traveling to Washington, where they meet representatives of the IMF to make the current agreement more flexible and enable the Central Bank to intervene more vigorously on the foreign exchange market.

The proposal with which Dujovne tries to convince Lagarde first and the management of the IMF is to deepen the adjustment: switching from a ceiling deficit of 1.3% to 0% in 2019.

With 70% of Treasury expenditure linked to salaries, retirement and social assistance, the goal is to continue lowering subsidies and cutting back on public works. But one year after the elections that option is refuted.

That is why Dujovne intends to increase revenues. The plan includes the application of general deductions of between 5 and 10% on exports from the field, industry and mining. It will also be determined that the tax reduction provided for in the tax reform will be frozen.

It is also under analysis, but with fewer opportunities to flourish, apply a tax on tourism abroad, bring the rate of personal property to 1% and implement changes to the highest category for the highest category to leave that regime and VAT. to pay and earn.

The goal is to reach an agreement with the IMF on a new payout plan. According to the original agreement, of the US $ 50,000 million contributed by the IMF, US $ 15,000 million will come in three tranches this year and the rest in a staggered way until 2021. Now we are striving to accelerate the arrival of the money to assure the market that Argentina is solid. to cover the 2019 maturities.

With the dollar in the $ 40 field and despite the complaints from the field, imposing retention is the measure that wakes up more consensus, outside and within the government.

Once the market causes the exchange jump, you need to find the mechanism for the treasury to take advantage of that advantage. You can not allow the market to coordinate the redistribution of revenues, "said Marina Dal Poggetto, director of the Eco Go consultancy." The retentions have dual advantages: they close fiscally and moderate the transfer to price on the domestic market, he added. For the economist, setting tourist tax with a dollar is up to $ 40 "prico". It would be more useful if public banks stop selling tickets in installments.

Martn Alfie, director of Radar Consultores, agreed that with the dollar for $ 38 there is a certain factor that will enable us to determine this measure that will not be entirely positive either. Politically it has a price, but in this context the expenditure is more recessive than raising taxes.

For Alfie, "a tax on tourism and not the purchase of foreign currency is very easy to avoid, it is more symbolic than the tax effect it can have, the monotributo is quite complicated, I do not see it as a solution. most logical when we think about dividing the adjustment in a more equitable manner The brake on the reduction of employers' contributions will not be so negative.


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