Minister of Economy, Fernando Lorenzo, made clear yesterday in his speech at a luncheon of the Association of Marketing Executives that tax policy was not negotiated. Of the changes proposed by the Frente Amplio sectors, only took into account the increase of the minimum income tax (see separate article), which proposed the MPP, and a further drop of poor households VAT for the Communist Party.
On the campaign trail had secured a reduction of two points in the general level VAT. But Lawrence said yesterday that it will be "through a set of instruments (credit and debit cards) to ensure two things: one, that consumers receive the benefits and that these benefits are tangible. Secondly, that the transactions are tight and formal conduct. This is meant to be a tax advantage for taxpayers, not for those who evade. "
The minister added that "it is linear tax cuts are reflected in prices," but that "you can if you combine new tools to monitor and ensure that the rebate comes." In fact, when he got a point on VAT through the tax reform of 2007 did not result in lower consumer prices. Why, he said that this measure be accompanied by the promotion of greater banking, for which the Ministry and relaunched its contacts with financial sector stakeholders.
"We will try to be as broad as possible, so we will broaden the base of electronic facilities (which allow card payments). In the first half of next year will implement the measure, linked to financial inclusion, said Lorenzo. He explained that if the rebate is made today without this technological expansion would exclude "a vast majority of Uruguayans." "We are working Under an agreement with the LATU to help us in the technological support of this project, "he added.
Anyway once you specify the banking, who do not buy with credit or debit card will not receive a discount of 20% VAT and taxed as 22% today. In June 2010 there were 2,003,618 outstanding credit cards, according to Central Bank data. There were 4.5 million transactions per month for an average amount of U.S. $ 53.
also Lorenzo said that in August Accountability will include the return of "all the VAT" through "food card (the Mides) and family allowances comprising a major number of households with children and youth in marginalized conditions. "would enter into force," in the last quarter of this year, "although it depends on the date of approval of the Submission.
Today there are 87,841 households benefiting from Mides card ( 330,000 people) and the amount of cards you receive is based on the number of children or adolescents in each family: a child is $ 523 per month, two children $ 793, three under $ 1,009 and four more than $ 1,406. It should be noted that in applying the exemption of 100%, if all the money spent on products with 22% VAT would be 20% - the maximum you may receive a family ( have four or more children) by the VAT refund is $ 281 and a minimum of $ 105 (taking into account that have only one child). From these figures, the return of 100% of VAT Mides beneficiaries shall have a maximum cost equivalent to $ 1.2 million.
agro
More companies pay IRAE
The government plans to lower the ceilings from which agricultural enterprises are not eligible for the Tax Sale of Agricultural Goods (imeb) and must pay taxes income tax of Economic Activities ( IRAE). Today
stops are determined by the number of hectares and billing. Is mandatory IRAE pay from 1,250 hectares and net sales of $ 2 million of index-linked, which to date are about $ 4.4 million. They are also obliged Corporations and limited by shares.
Minister of Economy, Fernando Lorenzo, said yesterday after leaving the Finance Committee of Representatives which is expected to expand the number of agricultural companies that pay IRAE.
President of the Rural Association, Joseph Bonica, told El Pais that "the limits for eligibility between imeb and IRAE suffer some adjustment," which unknown magnitude. The president of the Rural Federation, Miguel Bidegain, said he was concerned that the addition of producers to a "no return" IRAE in a context of high prices "no one says that is everlasting."
The minimum income tax will rise to 1 in five years
BPC's economy minister, Fernando Lorenzo said yesterday before the Finance Committee of Deputies and later at the luncheon of the Association of Marketing Executives of the minimum tax Tax Income of Individuals increase according to the variation of real wages up to a Base Benefits and Contributions (BPC) more than it has today to seven.
This gradual increase starting from 1 January 2012, he said. Ministry sources Economy told El País that according to the real wage increase of 3% estimated by year, the rise of a PCB would be reached in five years.
Currently the minimum income tax for earned income is seven PCBs, ie $ 15,582 per month. Applying the variation of real wages estimated for this year, the increase would be $ 467, so the new minimum would be $ 16,049 from 1 January 2012. To this we must add their own variation of the BPC.
According to the calculations of Economy, the minimum income tax in five years would be $ 17,808.
The idea is to gradually towards a more PCBs, through the real wage variation from year to year, "said Lorenzo in ADM. The minister also noted that his portfolio is" working to incorporate more effective and broader aspects covering housing expenditures of households ", but gave no further details regard. In turn, when asked if there increases in personal income tax rate in the higher bands, Lorenzo was blunt: "No, no, no".
not redistribute. According to a report by the Office of Planning and Budget (OPP) published by El Pais, if they took measures such as raising the tax allowance or improve their income tax deductions, they "would not achieve lower population living in poverty or destitution, or to improve the various indicators of inequality. "
" This does not mean I should not follow a path of increasing the minimum amount and no tax increase in deductions, but must be taken account who are ultimately benefit from the tax changes, "says the document. Anyway, in the scenarios analyzed by the OPP" the number of taxpayers who ultimately pay income tax decreases.
"Window" to income tax for capital Both the exterior
foreigners coming to reside in the country as those who already have that category will have a "window" of five years to pay taxes by the Income Tax Nonresident allowing them to evade the tax imposed on capital income from abroad. The announcement was made yesterday by Minister of Economy, Fernando Lorenzo.
"On the occasion of the adjustments we made during the year 2010 came and comments related to this issue and believe that it is perfectly possible to find a solution that would consider this situation is that someone who comes to our country lie , becomes a resident and have financial assets abroad now see these taxed by the income tax, "said Lorenzo. He said it is "a complicated situation because they are assets that were generated in our country and would be putting a break on the criterion of source that was never intended to. "
Once approved the measure several voices were raised that went against the establishment of foreigners in the country.
As a solution, then, Lorenzo said we see the possibility of "giving a window to both the newcomers and become residents as for those a year ago, two years" so they start to "pay taxes for at least five years (.. .) by the Income Tax Nonresident for which foreign income is exempt. "
From tax law changes was approved along with the flexibility bank secrecy income from capital abroad were to be taxed at a rate of 12%.
0 comments:
Post a Comment