The Government has already begun a mechanism begun since January, with subsidies and investors to pay all of the Financial Income Tax for all sizes. Fixed-term Deposits and Investments in Bonds and Mutual Funds Taxes will be applied at a 5% profit rate, with dollar positions or 15 local currency. The minimum tax rate for these types of profits will be over $ 66,000. It is the second part of applying tax reform.
The Secretary of the Public Treasury, edited by Andrés Edelstein, has already filed a draft tax decree on its website tax tax. In it, economic researchers and professionals will have a space for observations and changes to propose. Before the end of the year, decrees should be punished before each year, and then issue resolutions that develop the new provisions of the General Administration of the Treasury (Afip).
The first part of this tax began to apply this year. Non-residents' income is damaged. Opposed by the opposition, Mauricio Macri's government wanted to make a progressive image. The Lebak was issued by the Central Bank for taxation. The influence was a seal for foreign investors who took advantage of the great features that offer the letters, for the dollar. Then the price of the dollar that occurred approximately from $ 20 to $ 42 broke up.
Income Tax Taxes will bring tremendous discomfort among investors and sponsors, which will not be offset by the cost effectiveness of the collection. Daniel Vicien, commercial director of the Commercial Funds of the Balance Fund (FCI), helps this treasury about $ 200 million in this market segment. According to analysts, "Total Investment Funds totaling 570,000 million". The only investment that will be exempted according to the regulations will be shares of Argentine companies, FCI of local private documents will not be taxable. In this regard, the fund determines the amount of local Argentine stocks, which most of them bring together different portfolio investments. The Decree project states that it must have at least 75% of its underlying assets in Argentina. Portfolios could fall due to the movement, but no more than 30 days a year. According to Vicien, all funds funded $ 20,000 million are local actions only. "This means that 550,000 million have been reached. The Balan director has calculated the FCI Group as a fixed income and public securities portfolio in the first 10 months of the year for 156,000 million dollars "If the five percent rate is applied, they will have to pay $ 7.8 million, more than $ 200 million." However, the director stressed that when the tax funds are paid at the time of rescue, the investor decides if his money is with FCI he has to pay taxes.
The other problem to be mentioned is how to establish how Afip will fix the Financial Income. It acts as an agent attached to the Bank, above all in the established legal conditions. But when more sophisticated investors are involved, they may have capital invested in different instruments, some would be lost for a certain period and others would be a positive return.
Thus, they suppose that Afip will determine the tax filings on sworn affidavits. "How can the FCI administrator determine if its customer exceeds the minimum tax liability," said Vicien. Especially if one person has other types of investment in a bank.
Consider another point. ADRs are certificates of shares in Argentine companies listed on the New York Stock Exchange. They will have to pay financial income. But it may be that an investor wants to avoid taxing. When the company pays its dividends, the certificate can be certified in the United States and purchased the corresponding local fee. But that was rejected. The ADR sales and local shares will also be subject to taxation.