, the government seeks to remove any noise or uncertainty due to the delayed regulation of
Therefore, this rule will be published next week and will bring news to minimize noise and punishment for Argentine bonds. According to government sources, told
The nationThe decree, which will be published, allows to influence the interest rate received during the 2018 tax period, to the cost of calculating the bond, as it is reduced in that amount.
How would this option work? Take an example. "If a title was acquired at 100, and today it is sold at 80, there is a loss of 20. If a 10 coupon was charged even if you lost 20, with the current tributás rule for the 10 you received, And not you can just against the loss in the capital, "they told the government. "By calculating the coupon 10 at the expense of the title, it means that the" purchase price "goes down from 100 to 90 for the tax list.
This will mean that the person who chooses to take this option does not pay for the interest they have received. Yes, on the other hand, you pay if you had a surplus of the new 90 price on the day you sell the securities. "It is important that you do not have to sell the title to choose the option to apply the interest to the original price of the title, allowing you to separate the tax impact until the time of sale," the media source said.
As stated, this option will prevent as many purchasers of operator securities from avoiding the tax and helping a
tax planning less speculative. "It is a way of responding to the shock of the implementation of financial revenues at times when the operators have lost capital and received income, reducing the impact," they said.
Noise on the market exists when several operators were consulted yesterday
The nation they agreed that the lack of disclosure in the official journal of the fine print of this rule prevents investors from knowing what the tax burden will be and it would push, they claim the liquidation of their positions in local bonds.
The financial income tax is born from the last reform (Law 27,430) and reaches the results of the term interest or income derived from the capital investments made since January 1, 2018.
Individuals must start paying since the middle of 2019 the income tax for the income that comes this year from fixed terms, unlisted shares, bonds, shares in shares and shares listed abroad.
According to the operators, the design of the tax, the high inflation this year and the loss of Argentine bonds this year after the reorganization of flows to emerging markets happened that many investors must face their payment without real gains.
Yesterday, land risk closed to 821 points, the highest since 2014. Merval, the leading indicator of the Buenos Aires stock exchange, closed yesterday with a fall of 2.70% affected by the decision to increase FED rates, but also due to global uncertainty. Local bonds also showed strong setbacks. For example, Bonar led the 2024 decline by 2.2% drops. Other significant drops were those of Global 2037 (-1.7%); The couple under Argentine law (-1.7%), the half-year bond (-1.6%); and 2020 Bonar (-1.4%).
The global market did not help either. Dow Jones and the Nasdaq indices closed their worst week for 10 years on Wall Street, amid concerns over the growth of the threat of a state stop in Washington and a trade war. Dow, the main index of the New York Stock Exchange, dropped 1.8% to 22.437.48 points and Nasdaq fell 3% to 6332.99 points. Both indicators fell 6.8% and 8.4% respectively during the week.
- The government plans to regulate the financial income tax in the coming days. It seeks to minimize the poor performance of Argentine bonds
- The possibility of influencing the interest received in 2018 will be given to the fair value of the bond, which will immediately affect the tax register