The key tax for the provinces aimed by Luis Caputo and the Banks

The onslaught of the “Fintech” and the banks against excess tax burden He focused on gross income tax (IIBB). This tax constitutes the collection locomotive of the provinces. The Minister of Economy, Luis Caputo, heads for months a crusade against this fiscal burden and asked the governors a reduction again. The so -called G6, composed of the Association of Banks Adeba, the Stock Exchange, the Chamber of Construction, the Rural Society and the UIA was added to the claims. And even the free market CEO, Marcos Galperin, got into the discussion.

He Current tax scheme determines that more than a third of the funds used by the most important jurisdictions in the country (By population and economic capacity) It comes from transfers from the national government. He rest of the expenses are solved with what the administration itself collects. In this scenario there are provinces with greater dependence on nation (they receive more than 90%, such as Formosa, Santiago del Estero or La Rioja) and other jurisdictions in which the nation only sends 25% (CABA).

But the ones that depend most are their own collection perfomance, they must be sustained on the IIBB tax. A report prepared by technicians from the Buenos Aires Legislature was determined that Buenos Aires, Córdoba and Santa Fe obtain more than 79% of their own tax revenues.

The so -called “patrimonial” as real estate or patents; stamps and other encumbrances obtained by provincial tax agencies and addresses complete the collection cake.

The governments of Martín Yaryora, Axel Kicillof and Maximiliano Pullaro were able to survive the cuts in transfers who applied the first year of Javier Milei from a pressure on this provincial tax.

This week, a coordinated offensive of virtual wallet leaders and banking entities against the tax rise was deployed. “Enough of gross income,” Mercado Libre published in a statement. Marcos Galperín, CEO of the wallet put the claim in X and added Pierpaol Barbieri, founder of Uualá.

There was replica of the banks nucleated in the associations that represent the National Entities (ABA), that of Foreign Capital (ADEBA), the Provincial and Public (ABAPPRA) and the Specialized (Abe). “The high distortive tax burden that supports financial activity is one of the elements that explains the low and decreasing level of loans/GDP showing the economy in the last 25 years,” organisms wrote in a pronouncement.

According to a study made by the Ministry of Finance of Córdobathe aliquot paid by banking and financial services is the highest in all the country’s jurisdictions. The average is 7.17%.

The rest of the activities- engaged in eight major categories- tax as follows: industry, 1.28; Agriculture, livestock and fishing, 0.52; Mining, 0.79; oil and gas, 2.7; Construction 2,2; Trade 4.1; transport and logistics 1.81 and hotels-restaurants, 4.04.

Gross income has a bad reputation. “It is necessary to reduce the tax pressure and propose a decrease and elimination of the most regressive and decadent tax of the provinces: gross income. The 2017 experience, through the fiscal consensus, allowed a north that some provinces continue (such as Mendoza), but the vast major Kicillof, who in the end had no support and for now he did not prosper.

The “general” aliquot charged by Buenos Aires, Córdoba and Santa Fe is between 4.5 and 5% on the billing of economic activities and the provision of services. There is the “regressive” character: it is for everyone the same. Big and guys. But, in addition, he moves to the final consumer, experts agree.

Some activities have greater load. That is why Galperin’s complaint and the rest of the managers of the financial sector. According to the comparison that Clarín accessed, “Financial Services” and related have an aliquot of 9% in Buenos Aires; It is from 8.1% (average) in Córdoba and of 6.3 in Santa Fe. The province that administers Pullaro is in the lot of those that charge less to the bank and derivatives.

But the dependence of these provinces- the richest in the country- of the collection of Iibb is decisive: for Buenos Aires it represents 79.4% of its own collection; For Córdoba, 79.9% and for Santa Fe 85% of what charges the Santafinos.

That is why it is difficult for the governors to dispense with this resource. The monthly report disseminated by the provincial senator Marcelo Daletto (Federal-UCR change), a member of the Budget Commission of that body determines that in Buenos Aires “to October 2024, the income accumulated by the province continues to recover, adding two consecutive months of Improvement in resources – thanks to the effort of taxpayers as we will detail later – however, they still do not reach the level of inflation. The accumulated real fall of national transfers with respect to the previous month was reduced, which, in relation to the same period of 2023, fell by -11.9%. Income with origin in provincial collection again has a monthly improvement, contracting the fall in real terms of -5.7% in September to -4.8% in October, compared to the same period 2023 ”.

The legislator’s work argues that with respect to the first 10 months of 2023, the provincial collection fell by -4.8% in real terms in 2024.

According to a study made by the Ministry of Finance of Córdoba, the Aliquota that Banking and Financial Services pay is the highest in all the country’s jurisdictions. The average is 7.17%.

The rest of the activities- engaged in eight major categories- tax as follows: industry, 1.28; Agriculture, livestock and fishing, 0.52; Mining, 0.79; oil and gas, 2.7; Construction 2,2; Trade 4.1; Transport and Logistics 1.81 and Hotels-Restaurantes, 4.04.