The Government announced tax relief measures for SMEs and MSMEs

The Minister of Economy, sergio masaannounced measures of tax relief for SMEs and MSMEs during a ceremony at the Palacio de Hacienda, together with the Secretary of Industry, Jose Ignacio de Mendiguren. He also reported that a trust will be created for knowledge companies.

“Our challenge is to simplify the tax system and we know that we can do things so that they continue using people and investing”, affirmed Massa.

Announced tax deductions for small and medium-sized businesses effective as of August 1.

SMEs: the productive tank that has been “unleashing” it in a complicated macro

The measures for SMEs and MSMEs

  • Check tax: 30% of the tax may be deducted from the check as payment on account of 15% of employer contributions and will be in effect from August 1 to December 31, 2024, benefiting 240,000 SMEs”.
  • Income tax: It reaches 330,000 SMEs and 3.5 million people, who have 25% in advance of the first installment. “We have lowered the down payment to 10% and divided it into 10 installments,” he announced. from August 1, 2023, will increase employability levels.
  • VAT: exclusion from the system of VAT perceptions and withholdings, which impacts 95,500 SMEs and micro-SMEs, 38% of the total.
  • Export SME system: Non-reimbursable contributions for $19,900 million for projects that reach 21 provinces with the aim of increasing their exports. “SMEs export US$13.5 billion a year. The average value of a ton of exports from Argentina is US$500 and that of Argentine SMEs is US$2,150,” said Massa.
  • Knowledge economy: the system of credits and guarantees is extended, by $2,000 and $1,000 respectively. It involves projects to increase the export capacity of “Argentine talent”.

Referring to the 5.5% year-on-year drop in economic activity reported this Tuesday by INDEC, the Economy Minister said that “when we see the impact of the Vaca Muerta complex and the mining complex on GDP this year, the The fall represented by the drought slowly begins to be offset by the impact or the tractor that Vaca Muerta and the mining complex represent in investment”.