December 20th, 2024
1. The government launches the new Perception Regime
The government made official, through General Resolution 5617/2024, a new Perception Regime for income tax and personal property tax, which replaces the system linked to the PAIS Tax. This regime maintains the 30% rate but introduces significant changes in its scope, eliminating perceptions for certain financial sectors. The transactions covered include the purchase of dollars without a specific destination, the exchange of foreign currency to pay for goods and services abroad by means of credit or debit cards (including purchases on websites), and the contracting of tourist services or international passenger transportation.
La Nación: El Gobierno definió cuál será el nuevo precio del dólar tarjeta
2. Argentina returned to a trade surplus in November
Argentina ended November with a goods trade balance surplus of US$1.234 billion, driven by the fall in imports, and a positive balance of US$17.198 billion accumulated in the 11 months of 2024 (all surplus). Exports grew last month by 31.6% with respect to the same period last year and totaled US$6.479 billion. Total imports amounted to US$5.245 billion, with a 4.3% year-on-year decrease and a 3.3% decrease with respect to October.
Infobae: El superávit comercial se mantuvo en noviembre y ya acumuló más de USD 17.000 millones en el año
3. The government makes the fiscal transparency regime official
Starting January 1, consumers will be able to know the real value of a product or service, and how much more expensive it becomes when national taxes are added. Within the framework of the fiscal transparency regime, which was regulated by the ARCA, companies and merchants will have to start distinguishing Value Added Tax (VAT) and other tax charges in the invoice and sales receipt. The implementation will be staggered and will be gradually extended to smaller taxpayers. In this first stage, large companies will have to implement it as from January 1. All vouchers will have to contain a line detailing the amount corresponding to VAT and, when issued by a large company, they will also indicate the internal taxes that affect the final price paid by the consumer.
4. Argentine gendarme officer detained in Venezuela
Last December 8, Nahuel Gallo, an Argentinean officer of the Gendarmerie, was arrested in Venezuela after crossing from Colombia to that country, according to his declarations, to visit his family. However, the Venezuelan government has arrested him and accuses him of being part of a “terrorist plan” headed by Javier Milei and the Minister of Security, Patricia Bullrich. Venezuelan Foreign Minister Yván Gil said through a Telegram message that the Argentine government “has made a serious mistake and has left countless pieces of physical evidence that implicate them in a terrorist plan.” In line with this statement, Diosdado Cabello, Venezuelan Minister of Interior and Justice, justified the decision saying that Nahuel Gallo “wanted to infiltrate” the country and that he is being prosecuted “with full respect for the Venezuelan rule of law and justice.”
5. The economy grew by 3.9% in Q3, according to INDEC
According to data published by INDEC, Argentina’s economic activity showed a 3.9% recovery compared to the previous quarter, driven mainly by increases in investment and consumption. Although this improvement could be interpreted as a positive change in trend, it is important to note that activity stagnated in September and subsequently experienced a decline in the industrial and construction sectors during October, official statistics show. The agency released these GDP figures in its report on the level of activity, which also revealed that a contraction of 2.1% was recorded when compared to the same period of the previous year, a less negative result than initially anticipated.
LA NACION: Con impulso del consumo y la inversión, la economía creció 3,9% en el tercer trimestre del año