The head of the Buenos Aires government, Horacio Rodriguez Larreta, announced this Tuesday that he decided to eliminate the tax on credit cards to relieve the pocket of the neighborsin the midst of rising inflation and the sharp drop in economic activity. The project will be sent today to the Buenos Aires Legislature.
The credit card tax, also known as “stamp tax”works in 7 other provinces. It had been created in the City of Buenos Aires, temporarily, after the cut in co-participating funds that the national government executed unilaterally..
“What I promise, I fulfill”said the president. It is that the tax will be eliminated, even though the national government does not abide by the ruling of the Supreme Court that ordered to restore the Co-participation funds cut unilaterally. “The neighbors cannot wait for the times of politics,” he concluded.
What I promise, I keep: we are going to eliminate taxes. pic.twitter.com/gk39fAH79K
— Horacio Rodríguez Larreta (@horaciorlarreta) March 7, 2023
Through a statement, the Buenos Aires government highlighted that the elimination of the tax is possible thanks to the fact that the City of Buenos Aires promoted a drastic reduction in spending, which has already fallen by 10%. This saving allows taxes to be lowered despite the Nation’s failure to comply with the ruling.
Rodríguez Larreta explained that he made the decision after the President’s speech at the opening of sessions of Congress: “It became clear to me that they will definitely never abide by the ruling.”
Today a bill will be sent to the Legislature of the City of Buenos Aires to eliminate the 1.2% stamp tax on credit cards that had been applied to deal with the removal of resources. Meanwhile, Larreta will continue with his judicial claim: “This does not imply giving up our fight for federalism, because if they take resources from us today, tomorrow they can do it with any province.”
“We are going to defend the institutionality and the republic”
The candidate for president of Together for Change also reiterated his rejection of the request for impeachment against the four members of the Supreme Court: “It is another one of the countless attacks of Kirchnerism against Justice. They seek to annul one of the powers of the State and we are going to be there to stop the attempt and defend the institutionality and the republic”.
In a press conference, Rodríguez Larreta also listed the problems that affect Argentines. “It no longer gives for more. He lives with anguish, with frustration at not getting a job or with fear of losing it. Those of us who are parents do not sleep when our children go out into the street and our blood freezes when we see violence growing in so many places in the country such as Rosario, the Buenos Aires suburbs or Patagonia. Boys learn less and less in schools. Insecurity, lack of work, salaries on the floor and increasingly higher prices. Solving this crisis is an urgent priority, ”he assured.
And he remarked that the national government “not only does not present any solution to the problems, but it does not even respect the democratic order.”
Lastly, he noted:This decision is a sample of my vision of what Argentina needs. We are going to lower taxes to reduce the dead weight of the State and so that companies, the countryside, SMEs, businesses and industries can grow, create jobs and export. I will always work for the benefit of the people. I am convinced that this is the way. Together we will make it. It is time to encourage ourselves to transform the country forever”.
Provinces that charge stamps to Credit Cards
Buenos Aires 1.2%
Chaco 1,5%
Córdoba 1,5%
Mendoza 1,5%
Saint Louis 1.2%
Land of Fire 0.6%
Tucuman 1.0%
