Today, Monday, representatives of the ruling and opposition political parties will go to the offices of the Ministry of Finance to resume the pre-legislative dialogue for the new tax reform.
Next March 8 marks one year since the Chamber of Deputies rejected the idea of legislating the Executive’s previous initiative, which was the central axis of its government program. This is why the Treasury is already preparing to introduce the new project, which will be focused on modifications to the income tax.
The proposal contemplates a reduction in the first category tax rate paid by companies from 27% to 25%, narrowing the difference with the OECD, while seeking to increase the income tax rates of “people with higher incomes.” . With these modifications, the Government intends to raise resources for 0.6% of GDP.
Among the parliamentarians of the Finance Commission there is no consensus on a possible increase in the income tax. Even pro-government voices assure that they will not be available for approval.
The independent deputy of the Party for Democracy bench, Carlos Bianchi, said that he will not give his vote in the face of what he considers “a new punishment for the middle class and entrepreneurs.”
While the independent deputy of the Frente Amplio bench, Jaime Sáez, pointed out that the focus of the discussion should be on tax avoidance and evasion, and believes that “there will be an important consensus” in this regard.
In the opposition they maintain their position once morest the project. The deputy and head of the Republican Party bench, Agustín Romero, said that with this reform “the government continues to insist on incorporating more insecurity into the market.”
During today’s meeting, according to the schedule, the topic to be addressed will be “exemptions, tax credit law for investment and development rate”, while next Thursday changes in personal taxes will be discussed.
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