Friday, March 1, 2024

The Argentine government has withdrawn the tax reforms of the Omnibus Law

The opposition rejected most of the articles to be discussed in the congress.

The government of the ultra-liberal Javier Milei withdrew on Friday the tax reforms included in a law of more than 600 articles sent to the Argentine Congress after the broad rejection of that chapter of the project of opposition.

“We are listening to everyone, and in fact, we share a good part of the complaints,” announced the Minister of Economy, Luis Caputo, in a press conference.

The ruling party will remove the articles of the project on money laundering, tax moratorium, changes in wealth tax, high income and exports, and changes in the calculation of the increase in retirements, which are questioned by those legislators and governors of the affected provinces. detailed by the minister.

The project received the first positive opinion this week and is ready to be debated next week in the Chamber of Deputies, but the opposition warned that it will reject almost 200 reforms if the law is voted on article by article if the government does not accept the changes.

The law, called the Omnibus Law because of its scope, aims to reform the economic system of Argentina with the change of hundreds of laws and regulations and is supported by a decree of 366 articles with many deregulations, the effects of which are partially suspended. by Justice and which Congress should also consider.

The withdrawal of the fiscal chapter of the law “does not mean that we abandon our commitment to achieve fiscal balance, our goal of zero deficit,” emphasized Caputo. “Let’s just give ourselves a little more time” to negotiate the reforms, he added.

For the government, the remaining bill is “the most important part” and means regulatory and structural changes “that will allow the country to develop in the medium term,” said the minister.

Milei said this week in an interview that Argentina is closer to fulfilling its proposal to dollarize the economy.

“Dollarization is a goal of this government and it will be done if the conditions are right. Now the conditions are better than when we took office and I agree “with the president about this, said the Minister of Economy.

World Nation News Desk
World Nation News Desk
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