A lot has been said in Argentina these days a large gap that is open between the level of interest rates that the average financial system pays ahorristi, about 47% per annum to 30 days, and the cost of bank receivables over 60% for pledge, and car purchases up to 77% per year in financing the spending on credit card.
However, Little is known in detail about the severity of the tax, not just national, such as gain, which includes the economy as a whole, but tax and municipal taxes, both at nominal interest rates and on the cost of financial institutions.
One track he gave Claudio Cesario, chairman of the Argentine Banking Association (ABA), in a cocktail of annual recognition for a specialized press, including Infobae, it should be noted, before consultation, that: "gross income tax payment represents the average of affiliated ABA organizations half of the total wage, and is equal to the annual amount of Earnings tax when historically it was less than half, 22 percent of the fee".
While in the case of municipal taxes, a representative of Argentina's foreign banking capital pointed out an anomaly that "in some areas of charge for lighting, wiping and cleaning branches have to pay for the flow of business rather than as it fits on the front to the square feet of space."
"The aim is to raise awareness among people and public opinion to cooperate with the provincial authorities. Today's services financiers are paying gross income almost as gambling. Then we'll try it with taxes and municipal charges. This in some cases charges in advance for non-lending services, "Cesario said.
After pointing out the importance of seeking the recovery of macroeconomic stability, zero fiscal deficit and zero monetary emissions and creating conditions for the development of capital markets that allows to reduce dependence on foreign financing, the president of the Argentine Banking Association said that "the debate on competitiveness can not ignore that tax pressure is what most affect it, This causes many sectors to lose opportunities, remain out of the market, and without formal job creation. 38% tax stray distances or discourages any investment opportunity. What is the rate of return that is needed for his support and how important is an incentive to solve informality?
Thus, Cesario concluded: "fiscal adjustment or zero deficit is not only the responsibility of the national government, the provinces which nowadays have excessively to reduce the provincial tax burden, must fulfill the commitment taken in the Pact and the fiscal consensus by lowering the aliquot of indirect taxes as gross income".
Otherwise, the banker said that "the cost of credit would remain high and would thus harm their co-provinces who are the ones who ultimately pay."