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How will the province provide aid to SMEs and businesses?

Small and medium-sized companies and businesses in Buenos Aires whose activity has fallen as a result of the pandemic and who have not accessed the Assistance for Work and Production (ATP) granted by ANSeS, will receive financial assistance from the Province to face to the payment of wages.

The measure was announced yesterday by Governor Axel Kicillof within the framework of a package of tax and economic initiatives that aim to support Buenos Aires SMEs in the sectors hardest hit by the lack of activity.

The battery includes tax benefits, such as the “minimum” reduction of the Gross Income deductions for companies, and lines of credit through Banco Provincia. In total, they will have a fiscal cost for the Province of about 1,500 million pesos, it was announced.

“These measures are for the support, assistance and accompaniment of the productive activity of the province and complement the immense effort that the national government is making,” said Kicillof during an act by teleconference that he led from the Interior, accompanied by ministers from his cabinet. , and national officials. The governor maintained that the assistance plan “points to an immense universe of companies” and stressed that these policies are “the result of analysis and joint work with all business associations with activity in the province of Buenos Aires.”

One of the measures with the greatest impact is the so-called “Buenos Aires ATP”, that is, assistance for the payment of wages that the Province will give to those who could not access that benefit given by ANSeS.

It consists of the compensatory allocation of up to 50 percent of the Minimum Living and Mobile Salary for a period of three months. The beneficiaries will be productive units whose characteristics of workforce and annual billing are the same as those of micro and small businesses, and who did not access similar benefits, and who are enrolled in activities affected by the pandemic in the AMBA.

That is, those that since the quarantine began could not function and had declines in income, including non-essential retail stores, services and gastronomy.

Among the tax measures that will be taken at the Collection Agency (ARBA), the reduction of tax deduction rates to a minimum stands out, which will benefit SMEs with declared income of up to 1 million pesos in 2019, and companies with falling sales and increase in the deductions / determined tax ratio.

Also, a financial benefit to collection agents since the payment period for ARBA payments is modified (from 15 to 30 days) and a payment plan for agents with debts due to omission is launched.

At the same time, there will be a compensation of the balance in favor (SAF) of the Gross Income tax with accumulated debts of other taxes, and will amount to $ 300,000 of the amount for automatic returns of the SAF.

ARBA also launched a payment program for tax debts incurred during the pandemic, with plans of up to 18 installments and extended the general payment plans for debts generated until May 31.

Finally, the collecting agency ordered a 15% discount on the Gross Income Tax (and up to 50% for SMEs) until the end of the year, which will benefit taxpayers who between March and May 2020 have declared income up to 5 % higher than in 2019. It will be for activities that affected their activity due to the coronavirus pandemic.

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