December 6, 2013
Scioli says income tax move not fueled by 'electoral' plans
BA province governor Daniel Scioli considered the new income tax scheme “very significant for workers” and rejected criticism by anti-kirchnerite sectors that questioned the official measure as an “electioneering” move.
In statements to media, Scioli affirmed yesterday’s announcement rising income tax floor to 15,000 pesos has no “electoral” prospects. “If it had been an electioneering measure, it would have been taken before the PASO (primaries),” head of the Buenos Aires province explained alluding to criticism by anti-government union leaders -such as CGT labor confederation head Hugo Moyano-, who believe the Cristina Fernández de Kirchner administration only seeks to revert August’s defeat ahead of October’s legislative battle.
Furthermore, the governor pointed out that the new tax regime will not affect state financing since company dividends and unlisted stocks will be taxed.
The government indeed plans to fund the tax floor increase -that will cost the state 4.5 billion pesos-, by applying a 15 percent tax to all sales and purchases of stock and bonds that are not listed in the stock market and eliminating tax exemptions for purchases and sales of stocks by foreign investors.