Tuesday , January 26 2021

Banks turn alarm signals for the impact on their finances from the payment of Gross Income

Much speaks in Argentina these days a huge gap that opened between interest rates That the average of the financial system pays to the savings, a 47% annual to 30 days, and a bank credit cost of more than 60% for the promise, in the purchase of a car, and up to 77% annual in the Financing of credit with credit card .

However, Little is known in detail about the weight of taxes, not just nationals, such as Benefits, which includes the economy in the set, but the provincial and urban taxes, both in nominal interest rates and on the costs of financial institutions.

One track he gave Claudius Cesario, president of the Association of Banks of Argentina (ABA), in the annual tribute of the tribute to the specialized press, among which was Infobae, in order to emphasize, before the consultation of this means: "the payment of the Tax to Gross Income represents for the average of joined-up organizations to ABA half of the total payment in wages, and is equal to the annual amount of the liquidation of The Tax to You wins when Historically, it was less than half, 22% of the mass of rewards"

While in the case of urban taxes, the representative of foreign capital banks in Argentina emphasized the anomaly that represents "in some provinces that the burden on lighting, sweeping and cleaning of branches must pay for the flow of business and not as responding to the front to the square meters of the site ".

"The objective is to raise awareness between people and public opinion to work with the provincial authorities. Today the services Finance pays Gross Income almost as a play. Then we will try to do it with taxes and urban charges. That in some cases they go ahead for services that do not lend, "said Cesario.

After emphasizing the importance of seeking to restore mao-American stability, with a lack of fiscal deficit and a single currency, and to generate the conditions for developing a capital market, which allows for a reduction in foreign financing, the president of the Argentine Bank of Argentina stated that "The competitive debate can not ignore the fact that tax prices are most effective. It causes many sectors to lose opportunities, to stay outside the market and without formal work. 38% tax pressures discard or disables any investment opportunity. What is the return rate necessary to maintain it and how important is the stimulus to handle informality?

Therefore, Cesario concluded: "the fiscal adjustment or zero deficit is not only the responsibility of the national government, the provinces, which, in the main part, must reduce the provincial tax, they must fulfill the commitment set forth in the Agreement and the Fiscal Agreement by lowering the tax rates of indirect taxes as Gross Income ".

Otherwise, the banker said that "the cost of credit will be high and thereby damaging their con-provinces, who are those who will finally pay."

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